The Standard Group Plc is a multi-media organization with investments in media platforms spanning newspaper print
operations, television, radio broadcasting, digital and online services. The Standard Group is recognized as a
leading multi-media house in Kenya with a key influence in matters of national and international interest.
President William Ruto has cancelled the controversial Adani Group’s deal to take over Kenya’s energy and aviation sectors, directing the Ministries of Transport and Energy to seek alternative partners.
Ruto made the announcement during his State of the Nation Address on Thursday, November 21, citing credible evidence from relevant agencies.
“In the face of undisputed evidence or credible information on corruption, I will not hesitate to take action,” said Ruto.
The move follows a series of allegations against the Adani Group, including charges brought against its chair, Gautam Adani, by the U.S. government.
Adani, alongside his nephew Sagar Adani, was accused of paying Sh30 billion in bribes to Indian officials to secure solar energy contracts, according to the U.S. Department of Justice.
“These bribes were used to deceive investors and banks, raise billions of dollars and obstruct justice,” said Lisa Miller, Deputy Assistant Attorney General.
The solar contracts, expected to generate over $2 billion in profits, are now at the centre of an investigation that includes evidence such as cellphone records, documents and photographs.
Ruto's directive follows the U.S. investigation into a multi-billion-dollar fraud scheme linked to the Adani Group.
join