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Ruto Cancels Controversial JKIA & KETRACO Deal With Adani

samrack November 21, 2024

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Adani Green’s US fundraise & Azure’s NYSE listing: Two reasons why the US is taking action in an alleged bribery scam in India The connection with the Adani group primarily pertains to an Adani Green corporate bond issuance in 2021, which involved US investors.

Ruto Cancels Controversial JKIA & KETRACO Deal With Adani

NAIROBI, Kenya Nov 21-President William Ruto has directed the cancellation of the Privately Initiated Partnership for the expansion of the Jomo Kenyatta International Airport and the KETRACO deal by Adani Airport Limited citing the controversies surrounding the deal.

During the State of the Nation Address,the President stated that in the face of undisputed evidence or credible information on corruption, he will not hesitate to take deciding action accordingly.

“I have stated in the past, and I reiterate today, that in the face of undisputed evidence or credible information on corruption, I will not hesitate to take decisive action.

Accordingly, I now direct – in furtherance of the principles enshrined in Article 10 of the Constitution on transparency and accountability, and based on new information provided by our investigative agencies and partner nations – that the procuring agencies within the Ministry of Transport and the Ministry of Energy and Petroleum immediately cancel the ongoing procurement process for the JKIA Expansion Public Private Partnership transaction, as well as the recently concluded KETRACO transmission line Public Private Partnership contract, and immediately commence the process of onboarding alternative partners.