Kenya’s president announced cancelling multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after US bribery and fraud indictments against one of Asia's richest men.
President William Ruto said in a state of the nation address the decision was made “based on new information provided by our investigative agencies and partner nations,” without naming the United States.
The Adani group had been in the process of signing an agreement that would modernise Kenya’s main airport in the capital, Nairobi, with an additional runway and terminal constructed, in exchange for the group running the airport for 30 years.
The widely criticised deal had sparked anti-Adani protests in Kenya and a strike by airport workers, who said it would lead to degraded working conditions and job losses in some cases.
The Adani group had also been awarded a deal to construct power transmission lines in Kenya, East Africa's business hub.
Also on Thursday, energy minister Opiyo Wandayi told a parliamentary committee there was no bribery or corruption involved on Kenya's part in signing that deal.
US prosecutors indicted Mr Adani this week on charges he duped investors in a massive solar energy project in India by concealing that it was facilitated by an alleged bribery scheme. He was charged with securities fraud and conspiracy to commit securities and wire fraud.
