The U.S. engineering firm KE International has awarded Akon, a Senegalese-American singer and businessman, a $6 billion contract to build a crypto-money city in Senegal.
According to an announcement on June 4, KE International obtained USD 4 billion from investors for the first two phases of the construction of the city of Akon. Akon first announced plans to build the city in January. The signing now confirmed the agreement and added more details about the project.
Singer Akon says the world’s first ‚Crypto City‘ is set to be established in Senegal by 2025
A city powered by crypto coins
The first phase of the development of the city of Iq Option is expected to be completed by the end of 2023. At the end of this phase, the complex will include a shopping mall, residences, hotels, a police station, a school, a waste facility, a solar power plant, and a hospital campus.
The second phase is expected to be completed in 2029 and is expected to deliver a fully functioning city with Akoin cryptosystems. As reported by Cointelegraph in mid-March, Akoin is a crypt coin designed for entrepreneurs in developing countries like Africa.
Rapper Akon shares the white paper of his upcoming crypto currency
KE International is also managing the construction of the $2 billion Mwale Medical and Technology City in western Kenya. The project started in 2014 and is expected to be completed by the end of the year.
The complex is already 85% complete and includes a 5,000-bed hospital, which opened to the public last year. Interestingly, this hospital also partnered with Akon to use its Akoin cryptomoney for transactions.