Kenya’s president cancels major deals with Adani Group

Published

3 weeks ago

November 22, 2024

editor

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”.

The day before, Mr Adani, India’s second-richest man, was charged with fraud by US prosecutors for allegedly orchestrating a $250m (£198m) bribery scheme and concealing it to raise money in the US.

Representatives from Adani Group have denied the allegations from US prosecutors and called them “baseless”.

“In the face of undisputed evidence or credible information on corruption, I will not hesitate to take decisive action,” said Ruto in a speech met with loud cheers inside parliament.

The Adani Group was set to invest $1.85bn in Kenya’s main airport in exchange for a contract to run it for 30 years, as well as a $736m deal with the energy ministry to construct power lines.

Under the airport proposal, the upgrades would involve a new runway and an improved passenger terminal at the Jomo Kenyatta International Airport.

The deals with the Adani group were hugely unpopular in the country, and there were concerns of corruption.

The airport deal sparked a strike among airport workers in September, as many feared it would lead to job losses.

Energy Minister Opiyo Wandayi told a parliamentary committee on Thursday there was no bribery or corruption involved in the procurement of the power lines.

President Ruto has pledged to take action against corruption, following repeated allegations against his administration.

Ruto said his government would now start to look for alternative partners for the airport and energy deals.

(BBC News)

Faiszer Musthapha’s name gazetted as MP

Published

10 hours ago

December 11, 2024

editor

Former Minister Faiszer Musthapha’s name has been gazetted by the Election Commission as a National List MP of the National Democratic Front.

The NDF contested under the symbol of a Gas Cylinder at the recently concluded General Election.

2414-11_E Download

CID ordered to develop program to reimburse ‘Onmax DT’ depositors

Published

10 hours ago

December 11, 2024

editor

The Criminal Investigation Department (CID) has reported to the Colombo Magistrate’s Court that a total of 2,017 complaints have been filed by depositors who claim to have been cheated out of their money after investing in ‘Onmax DT,’ a private firm alleged to have been operating a pyramid scheme.

According to the CID, the total estimated financial losses incurred by the complainants amounts to around Rs. 2.96 billion.

During a hearing before Colombo Chief Magistrate Thilina Gamage today (11), CID officials disclosed that a total of 865 new complaints have been received since the last hearing, and that additional complaints continue to be received.

Nine suspects, including the directors of Onmax DT, appeared before the court for the hearing. The CID further informed the court that three other suspects remain overseas, and open warrants have been issued for their arrest.

Investigations against the suspects are being conducted under the Prevention of Money Laundering Act and the CID revealed that inquiries into two suspects have been completed and the excerpts of the investigations have been referred to the Attorney General.

Additionally, the CID officials informed the court that properties belonging to the suspected directors have been identified in foreign countries, including Australia, and investigations are being carried out in collaboration with the INTERPOL.

Colombo Chief Magistrate Thilina Gamage instructed the CID to immediately develop a program to reimburse the depositors who suffered financial losses.

The court ordered the CID to present an update on the progress of the investigation at the next hearing, scheduled for February 5, 2025.

(adaderana.lk)

(This story, originally published by adaderana.lk has not been edited by SLM staff)

News

New Naval Attaché at Chinese embassy in SL calls on Navy commander (Pics)

Published

10 hours ago

December 11, 2024

editor

The new Naval Attaché at the Embassy of the People’s Republic of China in Sri Lanka, Senior Captain Zheng Zhaoping called on Commander of the Navy – Vice Admiral Priyantha Perera at the Navy Headquarters on Dec.10.

During the ensuing meeting, they exchanged views on several matters of bilateral importance, and the cordial discussion drew to a close with an exchange of mementoes, as a gesture of goodwill and cooperation.

Director General Health Services, Rear Admiral Janaka Marambe, Director General Operations, Rear Admiral Buddhika Liyanagamage, Director Naval Operations, Commodore Aruna Weerasinghe and Defence Attaché at the Embassy of the People’s Republic of China in Sri Lanka, Senior Colonel Zhou Bo were present on this occasion.