- Adani Ports is looking into port projects in South Africa to enhance its presence in Africa.
- The company faced challenges following a bribery investigation but is now focused on international expansion.
- The company has international assets in Sri Lanka, Tanzania, Australia, and Israel, and is planning to expand into South Africa.
Adani Ports and Special Economic Zone Ltd., the company founded by billionaire Gautam Adani, is exploring port opportunities in South Africa as it relaunches its international expansion efforts to strengthen its position in the global maritime industry.
Adani ports is looking into projects in South Africa to enhance its presence in Africa
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Adani Ports and Special Economic Zone Ltd., the company founded by billionaire Gautam Adani, is exploring port opportunities in South Africa as it relaunches its international expansion efforts to strengthen its position in the global maritime industry.
“We are evaluating port projects in South Africa to boost our presence in Africa,” Karan Adani, managing director at Adani Ports told Bloomberg. According to him, he was looking at East and West Africa for opportunities.
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Adani Ports is spearheading the group's renewed global expansion efforts following a series of challenges last year, which stemmed from the US Department of Justice’s indictment of Gautam Adani and several key executives in a $265 million bribery investigation. The billionaire, who is Asia’s second-richest man, has denied the allegations.
Adani eyes Africa growth despite setbacks
In the aftermath of the probe, Kenya cancelled $2.6 billion worth of contracts related to airports and power transmission, while Bangladesh sought to renegotiate a power deal.
Despite these setbacks, international expansion remains crucial to the company’s goal of doubling its share of overseas business to 15% by 2030. Currently, Adani Ports holds international assets in Sri Lanka, Tanzania, Australia, and Israel.
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The planned expansion into South Africa aligns with the country’s ongoing efforts to revitalize its deteriorating rail and port infrastructure, which has been hindering export activities.
Adani also revealed that his company abandoned plans to explore projects in Kenya, though he did not provide further details.
