Brief by Shorts91 Newsdesk / 03:25pm on 21 Nov 2024,Thursday Business
Kenyan President William Ruto canceled $730M worth of Adani Group deals, citing a US indictment against Gautam Adani for bribery. The canceled agreements include a 30-year, $736M energy project for power transmission lines and a proposal to control Kenya's main airport. In his address, Ruto emphasized the decision stemmed from "new information" from investigative agencies and partner nations. US authorities accused Adani of paying $265M in bribes to Indian officials, allegations the Adani Group denies, vowing legal recourse. Energy Minister Opiyo Wandayi earlier denied corruption in the transmission lines contract's awarding.
