Kenya drops over $2.5 billion of Adani deals after US indictment

Kenya drops over $2.5 billion of Adani deals after US indictment

A prophet is never welcomed in their hometown, for Adani neither his home country nor a third-world country-Kenya was enticed by his charms. The story of Adani all began as a rumor, the man who was going to take over key government parastatals in the name of PPP, renovation. Among the major targets were JKIA, KENTRACO, etc for 30 years. An event that captured the attention of most Kenyans. Woe on to the Kenyan population, their cries turned on deaf ears and the ruling class dismissed them as Kelele za chura. The Adani deal had to succeed, he was in bend with the Kenyan government, who would save the Kenyan population from Adani’s slavery? Only time will tell.

A few months after some of the deals had been secured, the news the Kenyan population was hoping for had finally arrived. Adani was a wanted man, by the United States authority with arregation of corruption case. A man who had been forced into the throats of Kenyan people was now a fugitive in hiding, no more thuggery, no more corruption, no more slavery, no more neo-colonialism- it meant a big deal to common folks, what a jubilation!

Kenya drops over $2.5 billion of Adani deals after US indictment

But what did this mean to the people who championed the “Adani deal take over of the Kenyan assets”? What a shame!

On 21/11/2024 during a State of the Nation speech, the president of Kenya announced the cancellation of all signed projects of the Adani group worth more than $2.5 billion based on accountability and transparency issues. Mr Adani, India’s second-richest man, was charged with fraud by US prosecutors for allegedly orchestrating a $250m (£198m) bribery scheme and concealing it to raise money in the US.

PRESIDENT RUTO
PRESIDENT RUTO

Representatives from Adani Group have denied the allegations from US prosecutors and called them “baseless”.

“In the face of undisputed evidence or credible information on corruption, I will not hesitate to take decisive action,” said Ruto in a speech met with loud cheers inside parliament.

The Adani Group was set to invest $1.85bn in Kenya’s main airport in exchange for a contract to run it for 30 years, as well as a $736m deal with the energy ministry to construct power lines.

Under the airport proposal, the upgrades would involve a new runway and an improved passenger terminal at the Jomo Kenyatta International Airport. Despite these deals being canceled, Adani is not entirely out of Kenya, and his involvement in the new health model SHIF and SHA remains to cause troubles in the Kenyan health sector.

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