Homa Bay town Member of Parliament (MP) George Kaluma has said that the deal between Kenya and the Indian multinational conglomerate Adani group will not be affected amid fraud charges.
Taking to his X account on Thursday, November 21, 2024, Kaluma said that even though the Indian billionaire Gautam Adani is being indictment for fraud in the United States, the group deals with Jomo Kenyatta International Airport (JKIA) and Kenya Electricity Transmission Company (KETRACO) will not be affected.
“Adani in New York will not affect Adani in Nairobi,” he assured Kenyans.
Adani in NewYork will not affect Adani in Nairobi. pic.twitter.com/auABtexK1Q
— Hon. George Peter Kaluma, CBS. MP. (@gpdkaluma) November 21, 2024
Adani-KETRACO deal
The vocal MP’s sentiments come hours after Energy Cabinet Secretary Opiyo Wandayi said that the deal between KETRACO and Adani Energy Solutions will go on despite the group’s proprietor being charged in the US.
While appearing in parliament today, Wandayi stated that Adani’s fraud charges are not related to KETRACO’s project.
“They (emerging reports on Adani) are not related to this project. We can’t even vouch for their veracity. We could be engaging in speculation. There has been no case of corruption or bribery as far as this PIP of Adani Energy Solutions is concerned,” Wandayi said.
According to Wandayi, the government did not know about the charges in the US before signing the Adani-KETRACO deal.
“We had no knowledge of any other adverse matters that could have come to light and therefore, we are proceeding on the basis of the outcome of the very rigorous due diligence exercise that was undertaken by the contracting authority in line with the law,” he added.
The deal, estimated at Ksh95.68 billion, will see Adani develop, finance, construct, and operate critical transmission lines and substations across the country.
Adani indicated
Adani and senior executives of his firm, Adani Group, have been accused of bribing Indian officials to secure contracts projected to generate profits of $2 billion (Ksh259 billion) for over 20 years.
According to the indictment filed in New York, the group also misled US and international investors while raising $3 billion in loans and bonds, concealing the bribery scheme, and obstructing a 2022 investigation.
US Attorney Breon Peace emphasized the significance of the charges, stating that they highlight efforts to combat international corruption and protect investors.
However, Adani Group has dismissed fraud charges levelled against its directors by the US Department of Justice.
In a statement dated November 21, 2024, the Indian conglomerate described the charges as baseless.
“The allegations made by the US Department of Justice and the US Securities and Exchange Commission against directors of Adani Green are baseless and denied. As stated by the US Department of Justice itself, “the charges in the indictment are allegations and the defendants are presumed innocent unless and until proven guilty.” All possible legal recourse will be sought,’ Adani stated.
“The Adani Group has always upheld and is steadfastly committed to maintaining the highest standards of governance, transparency and regulatory compliance across all jurisdictions of its operations. We assure our stakeholders, partners and employees that we are a law-abiding organisation, fully compliant with all laws.