Akon City Is Officially a Thing & It Has Its Own Currency

Lawrence Kim
January 15, 2020

"Looking forward to hosting you there in the future", he wrote.

Akon said on Monday via a tweet that he has finalized the agreement for the new city, a development which means there's no going back.

The Senegalese artist first announced his intentions to build a smart city in June 2018 after launching a cryptocurrency called Akoin, which he believes will help "cryptonize daily human and business exchanges" in Senegal, his home country.

"Just finalized the agreement for AKON CITY in Senegal", Akon tweeted. Back in 2013, the Grammy-nominated rapper founded the company Akon Lighting Africa.

While the name of the city has changed, Akon has given few other updates about what exactly his plans for the site entail. Akoin's new revolutionary crypto coin is aimed at unifying Africa and providing potential opportunities for young aspiring entrepreneurs and will be available across the 54 countries of the entire African continent.

The Akon City is to be built on a 2000-acre land space which has been given to the music star by the President of Senegal.

It says: '[The city is] within 5 minutes of the new global airport, close to the coast and a short drive from Dakar, the capital city of Senegal (Akon's ancestral homeland).

In an interview with Nick Cannon in November 2019, Akon said that construction on the city began previous year and phase two is expected to begin in 2025.

The project is expected to be completed in a period of 10 years with the first stage set to be achieved by the year 2025.

In that same interview, he criticised billionaires who have the kind of cash to take on these projects but don't. "And if you can have a billion dollars sitting in the bank while you have all these people suffering and struggling, man, to me, it's just insane".

A noble idea, for sure, but we've yet to see how this will pan out for him.

SAPCO Secretary General Aliune Ndiaye told AFP that the deal was a memorandum of understanding, so the size of the future investment is still unclear.

Other reports by Click Lancashire

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