The name Gautam Adani has been on the lips of many Kenyans recently due to controversy surrounding a proposed deal involving his multinational conglomerate, the Adani Group. The deal in question involves a KSh 260 billion proposal to lease the Jomo Kenyatta International Airport (JKIA) to the Adani Group, an agreement that Transport Cabinet Secretary Davis Chirchir admitted is still in its early stages. This announcement followed protests by Kenya’s aviation workers who went on strike on September 11, opposing what has been termed the ‘Adani deal.’
But who exactly is Gautam Adani? He is an Indian business tycoon and the founder of the Adani Group, one of India’s largest companies involved in port development, power generation, and various other sectors. Adani’s business journey began in 1981 when he joined his older brother in managing a plastics factory in Ahmedabad, India. Their business took off after the Indian government relaxed import restrictions, allowing them to expand and establish Adani Exports in 1985, which initially dealt in agricultural and power commodities.
Over the years, the Adani Group has grown into a massive conglomerate, diversifying into sectors such as energy, logistics, and airports. In 2006, the company entered the power-generation market and later acquired a 74% stake in Mumbai International Airport, India’s second-busiest airport. The Adani Group’s various divisions, including Adani Power, Adani Total Gas, Adani Ports, Adani Energy Solutions, and Adani Airports, collectively generate $32 billion (KSh 4.14 trillion) in annual revenue.
As of 2024, Gautam Adani is ranked by Forbes as the richest man in India, with a net worth of $85.7 billion (KSh 11.01 trillion). He is currently competing for the 20th position on the global rich list with French entrepreneur Françoise Bettencourt Meyers and family. Experts even predict that Adani could become the world’s second trillionaire by 2028.
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However, Adani’s rise has not been without controversy. In 2023, the Adani Group faced allegations of stock manipulation and fraud, claims the company strongly denied. Additionally, a report by Australian senators accused the company of operating offshore tax havens, causing environmental destruction, and violating human rights.
Despite the controversies, Adani continues to expand his business empire and influence, drawing both admiration and criticism from various quarters worldwide. The ongoing debate over the proposed JKIA lease shows that Adani’s activities will likely remain under scrutiny in Kenya and beyond.