Akon City: Akon Woos American Investors to Invest in Uganda

Senegalese American R&B singer Aliaume Damala Badara Also Known as Akon has embarked on efforts to court and encourage a number of investors to invest in his proposed Akon city to be built in Uganda.

During his April 2021 visit to Uganda, Akon revealed his plans of setting up a futuristic city in Uganda that would cost $6b.

The government of Uganda allotted him land of one square mile. The city which is expected to be completed by 2036 will operate on Akon’s cryptocurrency known as AKoin.

In a bid to raise funds, attract investors, Akon has since began enticing different entrepreneurs to make their way to Uganda to take up several investments ahead of the futuristic city.

Over the weekend, the singer cum businessman held talks with a number of African American investors in Houston Texas and sold to them the idea of investing in the proposed futuristic city in Uganda.

Among these, is Ashworth Barnes the CEO of 713 Motoring a leading automotive company in US who is set to invest in Uganda’s automotive industry.

He also held talks with Don Bowie a co-founder of Rare Steakhouse and Lounge located in Houston Texas.

Bowie expressed interest in extending the Rare Steakhouse investment to Uganda.

Ashworth has also appealed to other African Americans to consider Uganda for investment since its set out as a strong investment hub in the region.

“Africa has many barriers with commerce because the currency is different in each country making cross border trade a bit costly. We need to be able to reduce the cost of doing business and Akoin is the viable solution with the world moving is crypto,” Asworth said.