Search

Ruto Cancels Adani Group Deals Following US Fraud Indictment

William Ruto, President of Kenya. © OPA Images Limited / Alamy Stock Photo
  • President halts $1.85 billion airport expansion and $736.51 million power line project
  • Decision follows public backlash and legal scrutiny of controversial investment plans

Nairobi, Kenya – President William Ruto has canceled two major investment deals with India’s Adani Group, citing corruption allegations against its chair, Gautam Adani, who was indicted in the United States Federal Court on bribery and fraud charges. The announcement, made during Ruto’s State of the Nation address in parliament, marks the second time this year the president has scrapped high-profile agreements under public and political pressure.

You need an active subscription to continue reading this article.

Recent Business

Elderly woman on a busy street. Photo by Ink Pond @ Unsplash
Nigeria’s pension assets hit record $17 billion amid reform success
Read More »
Giza, Egypt. Photo by Phillip Wang @ Unsplash
Egypt sees record $26.6bn remittance surge as reforms pay off
Read More »
Mozambique fisherwomen. Photo by Antonella Ragazzoni @ Unsplash
African Development Bank renews $2m drought insurance for Mozambique
Read More »

Recent Politics

William Ruto, President of The Republic of Kenya. Photo: @ William Ruto/Facebook
Kenya faces political uncertainty after Raila Odinga’s death
Read More »
Nigeria young voters protest for reforms. Photo by Ayoola Salako @ Unsplash
Nigeria’s opposition weakens as governors, lawmakers flock to ruling party
Read More »
Meknes, Morocco Photo @ Unsplash
Morocco’s Gen Z protests reignite nationwide for reform
Read More »

Latest Posts

Latest news insights