Akon has secured a $6 billion contract with U.S.-based engineering and consulting firm KE International to build “Akon City” in Senegal, which will be run exclusively on Akon’s cryptocurrency, AKOIN.
The first phase is expected to be completed by the end of 2023. It will include the construction of roads, a Hamptons Hospital campus, Hamptons Mall, a police station, a waste facility, a school, and a power plant. Phase 2 will end in 2029 and will focus on integrating businesses to run on Akon’s AKOIN cryptocurrency. There will also be parks, a stadium, universities, and an industrial complex in Akon City.
Akon City’s partners include US-based Kenyan entrepreneur and Investor, Julius Mwale. Like Akon, Mwale is working with KE International to create his $2 billion Mwale Medical and Technology City project in Kenya, which will serve over 35,000 community members with its supermarket, hospital, mall, golf course, and is 100% powered by renewable energy. Also, President of Senegal, Macky Sall, will earmark Akon City as a special tax zone with tax breaks geared towards encouraging companies to invest. The city will be located on 2000 acres on the ocean and will be less than an hour’s drive south of the new International airport in Dakar.