President William RutoPresident William Ruto has ordered the immediate cancellation of the planned Adani Group takeover deal of the Jomo Kenyatta International Airport. Ruto at the same time directed the cancellation of the signed deal with the Kenya Electricity Transmission Company, Ketraco. The Adani company is currently in the eye of a storm with the most recent information indicating that billionaire owner Gautam Adani has been charged with fraud in the US. The Adani Group denied the allegations, calling them "baseless" and stated in a statement that "all possible legal recourse will be sought". On October 11 this year, the Energy Ministry signed a Sh96 billion deal with Adani Energy Solutions Limited to manage the Kenya Electricity Transmission Company Limited (Ketraco) transmission lines for 30 years.

Source: The Star November 21, 2024 16:41 UTC