‘Adani Is Still Good!’ – CS Wandayi Tells MPs After Uproar Over Ksh 32B US Indictment
Energy Cabinet Secretary Opiyo Wandayi has defended the administration in the face of criticism over contractual agreements that it had hoped to get.
This comes barely hours after the US Federal Court indicted Adani Group directors on corruption charges.
Wandayi said before the Senate Committee on Finance on Thursday, November 21, that the government performed due research on the Adani Group before engaging the corporation.
According to the CS, the government, through the Treasury and the Kenya Electricity Transmission Company, performed a two-phase exercise to assess the firm’s legal fitness.
“On the matter of Adani’s indictment, under section 41 of the Private Public Partnership(PPP) Act, we have an elaborate mechanism for undertaking due diligence,” Wandayi stated.
CS Opiyo Wandayi: The emerging report of indictment of Adani over corruption will not affect the delivery of the Ketraco-Adani electricity deal pic.twitter.com/x22NdfQB4Z
— Citizen TV Kenya (@citizentvkenya) November 21, 2024
“The PPP Directorate domiciled under the Treasury in coordination with KETRACO conducted a due diligence exercise on Adani Energy Solution in two phases.”
Wandayi informed the committee, led by Narok Senator Ledama Ole Kina, that the two-phased process included an examination of all financial and legal documentation for the company.
The CS went on to say that after reviewing all of the documentation, the Treasury was satisfied that the Adani Group had met all of its tax requirements in its country of origin, India.
The PPP Act bars Adani Group after recent indictions. Maybe @OpiyoWandayi should tell Kenyans which law he is reading from. via @NdunguWainaina pic.twitter.com/EDWgpXQGzY
— Cyprian, Is Nyakundi (@C_NyaKundiH) November 21, 2024
He also told the committee that President William Ruto’s administration has no worries about the company’s competence to execute Kenya’s infrastructure projects.
“Phase one involved a documentary review of all soft copies of the documents submitted by the Adani Group to demonstrate their technical, legal, financial, and logistical capacity to undertake similar projects,” he added
“The proponent also provided legal documents demonstrating their compliance to all legal requirements, compliance to laws and regulations including tax compliance in their country of origin.”
These events occurred while the Adani Group, in a harsh-toned statement, denied the US Department of Justice’s (DoJ) claims that its directors were corrupt.
Adani indicted by the US Attorney!
— Eric Muriuki (@Benign_Overlord) November 21, 2024
But CS Davis Chirchir was telling the country how Adani is clean and has never engaged in any illegalities?? pic.twitter.com/qImeWcDSQ1
“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,” Adani Group said in a statement.
The Department of Justice (DOJ) in New York indicted Gautam Adani, the group CEO, and seven other executives from the multibillion-dollar corporation, for bribing Indian government officials.
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According to the accusation, the Adani Group has for years bribed authorities to deceive US investors and get green energy supply contracts for its Adani Green subsidiary.
According to CNN, Deputy Assistant Attorney General Lisa Miller indicated that the bribes were intended to enable officials to defraud investors and banks in order to raise billions of dollars and obstruct justice.
“This indictment alleges schemes to pay over $250 (approximately Ksh32 billion) million in bribes to Indian government officials,” she stated.
“These offences were allegedly committed by senior executives and directors to obtain and finance massive state energy supply contracts through corruption and fraud at the expense of US investors.”
‘Adani Is Still Good!’ – CS Wandayi Tells MPs After Uproar Over Ksh 32B US Indictment
