Akon officially has his own city in Senegal. In a tweet he posted to his timeline, Akon, who is of Senegalese descent, posted a photo of himself with what appears to be government officials from the African country.
The Grammy-nominated rapper said during a Cannes Lions International Festival of Creativity panel that crypto and blockchain have the potential to change Africa in many ways.
This story was first published on CNN.com, "Akon created his own city in Senegal called "Akon City"." . Akon has spoken about his wish to make the city futuristic and innovative. "Looking forward to hosting you there in the future", he wrote. 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.
The Akon City will also operate on renewable energy with Akon Solar project with own worldwide airport, which is not far from Senegal's capital, Dakar.
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.
The currency itself is described as 'a stable currency [to] stimulate and support youth entrepreneurship, economic stability, and growth across Africa and the world'. But in his response to the worth of the project, he said, "I always felt like if you have to label yourself a billionaire, I don't even think billionaires label themselves one".
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.