Akon City is a go! According to Akon, he has managed to secured a $6 billion contract to build his cryptocurrency themed city in Senegal.
Akon entered a contract with the United States-based engineering and consulting firm, KE International, earlier this month. KE International generated the initial $4 billion from investors and will use it to finish the first and second phases of construction.
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.
The second will reportedly run from 2024 to 2029 when the city is expected to run exclusively on AKOIN cryptocurrency. The government of President Macky Sall of Senegal has earmarked the city as a special tax zone with tax breaks to be given to the City to encourage investment.
Through KE International, Akon City will be a Leader in Energy and Environmental Design (LEED) certified city, operation on 100 percent renewable energy. This will be only the second LEED city in Africa following Mwale’s Mwale Medical and Technology City. The entire construction for Akon City is expected to be completed in 2030.