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, Ruto said the deals had been cancelled based on "new information provided by our investigative agencies and partner nations".

It follows the indictment of billionaire Gautam Adani in New York on Wednesday. President William Ruto announced that the controversial multimillion-dollar deals in the energy, transport and health sectors would be scrapped during his state of the nation address to parliament on Thursday.

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

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.

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.

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.

Adani Group companies' shares fell for a second straight day on Friday after U.S. prosecutors charged the Indian conglomerate's billionaire chairman in an alleged bribery and fraud scheme.

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.