Kenyan President William Ruto has annulled two agreements with the Adani Group, valued at approximately $2.6 billion, citing allegations of corruption.
This move came shortly after the US authorities charged the company’s billionaire founder in a distinct bribery case.
President Ruto directed his cabinet to halt the procurement processes immediately. These processes involved Gautam Adani’s firms, which were set to manage the country’s largest airport and construct high-voltage power transmission lines.
“In instances of undeniable evidence or trustworthy information regarding corruption, my stance has been clear, and I reaffirm it today: I will act decisively,” Ruto declared to the legislators during a national address in Nairobi on Thursday. He noted that the decision was informed by fresh insights from investigative bodies and international partners.
Earlier in the year, Adani Airport Holdings Ltd. had pursued a 30-year concession, valued at $1.85 billion, to manage Nairobi’s primary airport. Concurrently, another subsidiary of the conglomerate had been awarded a contract worth $736 million to build and oversee power transmission infrastructure in Kenya.
