Kenya cancels airport and energy deals with Adani group after U.S. indicts the tycoon

In a major development, Kenya has decided to cancel airport and energy deals with the Adani group following the indictment of the tycoon in the United States. The decision comes after the U.S. Department of Justice charged Gautam Adani, the chairman of the Adani group, with fraud and corruption related to his business dealings. The airport deal, which was worth billions of dollars, involved the construction of a new international airport in Nairobi. The Adani group had won the contract to build and operate the airport, but the Kenyan government has now decided to terminate the agreement in light of the charges against Adani. Similarly, the energy deal, which involved the construction of a new power plant in the country, has also been cancelled. The Adani group was set to invest heavily in the project, but the government has now decided to revoke the contract due to the legal troubles facing the tycoon. The decision to cancel the deals with the Adani group has sent shockwaves through the business community in Kenya. Many were counting on the investments from the Indian conglomerate to boost the country's economy and infrastructure development. However, the government has made it clear that it cannot do business with a company whose chairman is facing serious criminal charges in the United States. The decision to cancel the deals is seen as a strong message from the Kenyan authorities that corruption and fraud will not be tolerated in the country's business dealings. The Adani group has denied the charges against Gautam Adani and has vowed to fight them in court. The company has also expressed disappointment over the cancellation of the deals in Kenya, stating that it had complied with all legal and regulatory requirements in its business dealings. The cancellation of the airport and energy deals with the Adani group is expected to have a significant impact on the Indian conglomerate's business operations in Africa. The company had been looking to expand its presence in the region, but the legal troubles facing its chairman have now put a major roadblock in its path. The Kenyan government has stated that it is open to renegotiating the deals with the Adani group if the legal issues facing Gautam Adani are resolved. However, it has made it clear that the country will not tolerate any form of corruption or fraud in its business dealings, and that companies with tainted reputations will not be welcome in Kenya. The cancellation of the deals with the Adani group is a major blow to the Indian conglomerate, which has been looking to expand its footprint in Africa. The company's reputation has taken a hit following the charges against its chairman, and it remains to be seen how it will recover from this setback. Overall, the decision by Kenya to cancel the airport and energy deals with the Adani group sends a strong message that the country is serious about tackling corruption and fraud in its business dealings. It is a reminder to companies that they must operate with integrity and transparency if they want to do business in Kenya.