On Thursday, November 21, 2024, Kenya’s President William Ruto announced the cancellation of major airport and energy projects with Indian billionaire Gautam Adani. This decision follows U.S. indictments accusing Adani of bribery and fraud, casting a shadow over one of Asia’s wealthiest businessmen.
In his State of the Nation address, President Ruto stated that the cancellations were made “based on new information provided by our investigative agencies and partner nations,” though he did not specifically mention the United States.
The Adani group had been in negotiations to modernize Nairobi’s main airport, including building a new runway and terminal. In return, the company would have operated the facility for 30 years. The deal faced significant backlash within Kenya, sparking protests and a strike by airport workers who feared the agreement would lead to job losses and poorer working conditions.
In addition to the airport project, the Adani group had also secured a contract to build power transmission lines in Kenya, East Africa’s leading business center.
On the same day, Energy Minister Opiyo Wandayi, speaking to a Parliamentary committee, insisted that no bribery or corruption was involved on Kenya's part in signing the energy deal.
This development comes just days after U.S. prosecutors charged Gautam Adani with securities fraud, alleging that he deceived investors in a large-scale solar energy project in India. The charges include claims that the project was made possible through an alleged bribery scheme, leading to accusations of securities and wire fraud against the Indian tycoon.
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