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.

This article is free to read.

Sign up for free or sign in to continue
reading. Unlike our competitors, we don't force you to pay
to read the news but we do need your email address to
make your experience better.

Create your free account or sign in


By signing in, you agree to receive Allen Dreyfus newsletters and updates. You can unsubscribe at any time.

Recent Business

Photo by Focus Graphite
Uganda graphite advances. Will NASA testing unlock sales?
Read More »
Foodstuff being moved to the market in Accra, Ghana. Photo by Zeal Creative Studios @ Pexels
Nigeria’s poor spend beyond earnings. Can reforms deliver?
Read More »
Street vendor selling goods in traffic in Ghana. Photo by Carbell Sarfo @Pexels
Ghana’s treasury bill bids plunge 40%. Is demand fading?
Read More »

Recent Politics

Foodstuff being moved to the market in Accra, Ghana. Photo by Zeal Creative Studios @ Pexels
Nigeria’s poor spend beyond earnings. Can reforms deliver?
Read More »
Fuel tanker truck navigating city roads. Photo @ Pexels
Can West Africa afford its rising fuel subsidies?
Read More »
Photo by Fran Ben @ Pixabay | Senegal
Can Senegal’s budget revolt derail its IMF rescue?
Read More »

Latest Posts

Latest news insights