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Akon launches ‘Akoin’, his very own cryptocurrency

BUSINESS MOVES: Akon

GRAMMY-NOMINATED artist Akon has launched a new cryptocurrency to aid his Lighting Africa initiative, which works to improve living conditions in Africa through the use of renewable energy.

He told an audience at the Cannes Lions International Festival of Creativity that the currency could be "the saviour of Africa in many ways".

"It also allows the people to utilize it in ways where they can advance themselves and not allow government to do those things that are keeping them down” Akon explained.

He plans to build an “Akon Crypto City” on 2,000 acres of land that was gifted to him by Senegalese president Macky Sall. Akon called its launch “a first of its kind 100% crypto-based city with Akoin at the centre of transactional life.”

Akon, who is of Senegalese descent, envisions that the city and its currency will allow "brands, businesses and high-profile individuals to do amazing things".

While speaking on the Branding Africa Panel, the Smack That singer announced that he had put his name forward as a potential US presidential candidate for 2020. “I’m going after Trump and Kanye”, he said.

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