President Ruto Cancels KSh 95 Billion Adani Energy Deal Amid Corruption Allegations
Adani deal cancelled by the President today November 21, 2024 President William Ruto has announced the cancellation of a controversial KSh 95 billion deal between the Kenya Electricity Transmission Company (KETRACO) and India’s Adani Group following corruption charges filed against the conglomerate abroad. The decision comes as mounting global scrutiny surrounds Adani, including accusations of bribery, fraud, and price manipulation in both India and the United State. Addressing the parliament today on the State of the Nation, president Ruto noticed the corruption within campaign to booster the Indian company to win the contracts in Kenya. The deal, signed in October 2024, aimed to improve Kenya’s aging electricity infrastructure through a public-private partnership. Adani was set to construct 388 kilometers of high-voltage transmission lines and substations under a "build-operate-transfer" model, managing the infrastructure for 30 years before handing it over to Kenya. E...