• Monday, 23 December 2024
President Ruto cancels Adani Group takeover deals with JKIA, KETRACO

President Ruto cancels Adani Group takeover deals with JKIA, KETRACO

President William Ruto has ordered the immediate cancellation of all Adani Group deals.

This includes the signed deal between KETRACO and Adani Group as well as the planned takeover of Jomo Kenyatta International Airport.

During his State of the Nation Address on Thursday, the president said the decision was attributed to credible evidence from the relevant agencies. 

He noted that the ongoing deals with the Adani Group could not continue with such insurmountable evidence. 

The United States government charged Gautam Adani, chair of Indian conglomerate Adani Group for allegedly paying Ksh.30 billion in bribes to the Indian government to obtain solar energy supply contracts. 

"In the face of undisputed evidence or credible information on corruption, I will not hesitate to take action. Based on the new information provided by investigating agencies and partnering nations that the procuring agencies within Ministry of Transport and Energy immediately cancel the ongoing process for the JKIA PPP deal and KETRACO deal," he said.

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