Adani Group Raids Tanzania With Ksh 116B Investment Deal
Adani Group has expressed interest in investing in Tanzania’s power infrastructure, just days after causing a stir with its proposed investment plans in Kenya.
According to a Bloomberg report on Thursday, Tanzania’s Public Private Partnership Centre received an expression of interest from the Adani Group to construct high-voltage power lines in the country.
Davis Kafulila, Executive Director of Tanzania’s Public Private Partnership Centre, told the international outlet that the group had submitted a $900 million (Ksh 116.14 billion) proposal to help modernise the country’s electrical infrastructure.
This latest development demonstrates Adani’s increased interest in investing in the East African region, despite public protests.
Tanzania has already advanced its business relations with the Indian multinational group after awarding it a 30-year concession in May to operate the main container terminal at the Dar es Salaam port.
Adani Group’s investment model sparked outrage in Kenya after reports surfaced of how it engaged the government in a highly secretive deal to take over management of the country’s busiest airport.
The investment proposal to Kenyan authorities was, however, halted after Members of Parliament directed the Kenya Airports Authority management on September 24 this year to cease further engagements with the group due to the secrecy of their business transaction.
David Pkosing, the chairperson of the Parliamentary Committee on Transport and Pokot South MP, directed KAA to postpone the deal until his committee’s investigations, which are expected to be completed this month.
Parliament Halts Adani Deal:
— Citizen TV Kenya (@citizentvkenya) September 24, 2024
Parliament directs KAA to suspend Adani, JKIA deal
This is to pave way for special audit by the Auditor General
Auditor General given 14 days to unearth suitability of deal#CitizenExplainer @YvonneOkwara pic.twitter.com/KwDfBKIHZj
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“It is the advice of this committee that because we are going to order a special audit, that you don’t do anything with Adani until this committee presents a report to parliament. If you do it it’s up to you,” he stated.
The development occurred even after the Senate and the National Assembly held meetings with key stakeholders believed to be involved in the Adani-government agreement.
Senators: Abandon Adani deal
— Citizen TV Kenya (@citizentvkenya) September 13, 2024
Senators ask Energy CS to abandon Adani-JKIA deal
Senators say Adani Group has reputation issues
Senators say Adani JKIA deal gives Kenyans a raw deal#CitizenBriefs@lillian_muli pic.twitter.com/WhI1sPiT4z
Adani is also in talks with Kenya’s government about a $736 million electricity transmission concession to build high-voltage power lines (KSh 94.9 billion).
All of this comes at a time when the Adani Group is facing allegations over scrutiny for money laundering in Switzerland, which it has denied in a bid to keep itself clean.
Adani Group Raids Tanzania With Ksh 116B Investment Deal
