3 sources·Business

Kenya Cancels Major Deals with Adani Group Following US Indictments

Kenya's President Ruto cancels multimillion-dollar deals with Adani Group after US fraud charges against billionaire Gautam Adani.

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Updated: Nov 21st, 2024, 2:58 PM ET

Summary

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Kenyan President William Ruto has canceled airport expansion and energy deals with the Adani Group, citing new evidence following US indictments of founder Gautam Adani for fraud and bribery schemes. The $1.85 billion airport deal, including significant upgrades to Nairobi's airport, faced public backlash, including protests and worker strikes. Ruto emphasized his government's commitment to tackling corruption and plans to seek new partners for future projects. In response, Adani Group has denied the allegations and may pursue legal action following the cancellations.

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Kenya Cancels Major Deals with Adani Group Following US Indictments - Pano News