Kenya’s president says he has cancelled multimillion-dollar airport expansion and energy deals with Indian tycoon Gautam Adani after U.S. bribery and fraud indictments against one of Asia’s richest me

Kenya's President William Ruto has cancelled two major deals involving Indian billionaire Gautam Adani, after the tycoon was indicted for fraud by US prosecutors. In his state-of-the-nation address on Thursday,

NAIROBI (Reuters) -Kenyan President William Ruto said on Thursday he had ordered the cancellation of a procurement process expected to hand control of the country's main airport to India's Adani Group following the indictment of the company's founder in the United States.

It follows accusations that Adani was scheming to pay over $250 million in bribes to Indian government officials, which he denies.

Kenyan President William Ruto canceled two deals with Adani Group worth about $2.6 billion over alleged corruption, hours after the company’s billionaire founder was charged by the US authorities in a separate bribery scheme.

Indian billionaire Gautam Adani has been indicted for fraud by U.S. prosecutors and arrest warrants issued for him and his nephew for their alleged roles in a $265 million scheme to bribe Indian officials to secure power-supply deals.

Kenya has terminated two high-profile agreements with India’s Adani Group, intensifying scrutiny on the conglomerate, which is already reeling from allegations of bribery by US authorities.

Kenya cancelled important projects with India's Adani Group following the U.S. indictment of its founder. The deals involved major airport and energy infrastructure valued at billions, but faced scrutiny over transparency and governance.

President William Ruto in a state of the nation address said the decision was made “based on new information provided by our investigative agencies and partner nations.” He didnt specify the United States.

Kenyan President William Ruto sought Thursday to turn the page on a difficult year, cancelling controversial deals with India's Adani Group and vowing to tackle corruption, police kidnappings and gender-based violence.