Tanzania has reaffirmed its commitment to honor its agreements with the Adani Group despite the U.S. bribery indictment of Indian Billionaire Gautam Adani.
In May 2024, Tanzania and Adani ports struck a 30-year concession agreement to operate a container terminal in Dar es Salaam Port dubbed as Container Terminal 2.
Also, Adani Ports successfully acquired a 95% stake in Tanzania International Container Terminal Services, a state-owned enterprise, for S95 million.
The U.S. indictment of Gautam Adani and his nephew for their alleged involvement in a $265 million bribery scheme sent shockwaves around the world. The allegations have led to several canceling or revisioning agreements with the Indian conglomerate.
Kenya, Tanzania’s neighbor, canceled the deal with Adani Energy Solutions, Adani’s power transmission unit, to construct and maintain major power transmission lines. Also, Kenya struck down the proposed deal that would have seen Adani control the country’s main airport for 30 years.
However, Tanzania has chosen to keep its current agreements with the Indian conglomerate, citing that there are no issues regarding the contracts and that all deals comply with the Tanzanian law.
A senior official at Tanzania Ports Authority told Reuters that no claims of wrongdoing exist with the contracts with Adani.
