Senegalese-American music star, Akon, has announced his securing of a $6 billion contract to build his cryptocurrency themed city ‘Akon City’ in his home country Senegal.
According to reports from PRWeb, the singer entered a contract with KE International–a United States-based engineering and consulting firm–earlier this month. The firm pulled in the initial $4 billion from investors, and is going to use it to finish the first and second phases of construction for the city.
The phase one is expected to be completed by the end of 2023. This first step will include the construction of roads, a Hamptons Hospital campus, Hamptons Mall, a police station, a waste facility, a school, and a power plant. The second phase will be done in 2029, it will focus on integrating businesses to run on Akon’s AKOIN cryptocurrency. Parks, a stadium, universities, and an industrial complex are also in the works for Akon City. The entire construction for Akon City is expected to be completed in 2030.
Akon City’s partners for this venture include Kenyan entrepreneur and Investor, Julius Mwale. Just like Akon, Mwale is working with KE International to create his $2 billion Mwale Medical and Technology City project in Kenya. The President of Senegal, Macky Sall, will earmark Akon City as a special tax zone with tax breaks aimed towards encouraging companies to invest.
Operating on 100 percent renewable energy, Akon’s upcoming venture will be a Leader in Energy and Environmental Design (LEED) certified city. This will mark only the second LEED city in Africa, following Mwale’s Mwale Medical and Technology City.
