Akon, who just collaborated with Tekashi 6ix9ine on Locked Up Part 2 has announced that he has secured a $6 billion contract to build his cryptocurrency themed city in Senegal. PRWeb reports that the singer signed a contract with KE International – a United States-based engineering and consulting firm earlier this month. According to the report, the firm raised an initial $4 billion from investors and is going to use it to finish the first and second phases of construction for the city.
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Meanwhile, phase one of the project is expected to be completed by the end of 2023. In the first step, the following will be included; construction of roads, a Hamptons Hospital campus, Hamptons Mall, a police station, a waste facility, a school, and a power plant. Then the second phase will end in 2029 and will shift its focus on integrating businesses to run on Akon’s AKOIN cryptocurrency. Also, parks, a stadium, universities, and an industrial complex are also in the works for Akon City. Thus, the entire construction for Akon City is expected to be completed in 2030.
For this venture, Akon City’s partners include Kenyan entrepreneur and Investor, Julius Mwale. Mwale, like Akon, is working with KE International to create his $2 billion Mwale Medical and Technology City project in Kenya. On the other hand, the President of Senegal, Macky Sall, will earmark Akon City as a special tax zone with tax breaks geared towards encouraging companies to invest.
Designed to operate on 100 percent renewable energy, Akon’s upcoming venture will be Leader in Energy and Environmental Design (LEED) certified city. As such, it will become only the second LEED city in Africa after Julius Mwale’s Mwale Medical and Technology City.
