The name Adani has been rife in Kenyans’ mouths in recent weeks for all the controversial reasons.
On Wednesday, September 11, the rubber finally met the road when Kenya’s aviation workers downed their tools in protest of the so-called ‘Adani deal’.
Through Transport Cabinet Secretary Davis Chirchir, the Kenyan government admitted there was no formal agreement with Indian multinational company Adani Group over the KSh 260 billion takeover. The proposal, according to Chirchir, is still in its infancy stages.
However, it is ‘not yet Uhuru’ for aviation workers, since the government insists it is in everyone’s best interest to lease the Jomo Kenyatta International Airport to the Indian conglomerate, owned by one Gautam Adani.
Gautam Adani poses for a photo next to Vietnam Prime Minister Phạm Minh Chính. Photo: Gautam Adani
But who exactly is Gautam Adani? The Indian business mogul is the owner of the Adani Group, which is at the heart of port development and operations in India.
His entrepreneurial journey dates back to 1981 when he collaborated with his older brother to operate a plastics unit in Ahmedabad, India.
Their business flourished after the Indian government relaxed import licences, enabling the businessman to eventually set up Adani Exports in 1985, which initially dealt with agricultural and power commodities.
Over the years, Adani Holdings has tapped into different markets, including the power-generation business in 2006.
Thanks to his industries’ influence and Adani Group’s financial muscle, the company was able to acquire a 74% stake in Mumbai International Airport, which is the second busiest in India after Delhi Airport.
Within the Adani Group are Adani Power, Adani Total Gas, Adani Ports, Adani Energy Solutions and Adani Airports holdings, among others. The group makes $32 billion (KSh 4.14 trillion) in revenue.
As of 2024, Forbes ranks Gautam Adani as the richest man in India, with a net worth of $85.7 billion (KSh 11.01 trillion). Overall, the mogul is competing for 20th place in the global rich list with French entrepreneur Françoise Bettencourt Meyers and family.
Experts predict Adani could become the second trillionaire in history by 2028.
The success Adani Group has experienced has not come with its fair share of controversy. There have been allegations of fraud against the company, who were accused of stock manipulation in 2023 – something the company vehemently denied.
Australian senators also published a damaging report on Adani, accusing the company of running offshore tax havens, environmental destruction, and human rights violations.
An image of the Jomo Kenyatta International Airport
Photo
Kenyans.co.ke
