Akon’s cryptocurrency company, Akoin has secured an agreement to become the main currency in Mwale Medical and Technology City MMTC in Western Kenya. Mwale Medical and Technology City is a $2 Billion metropolis with a medical and technology complex in Kakamega County, western Kenya. The buzzing metropolis which is the work of Kenyan Billionaire Julius Mwale is home to 30,000 people and thousands of businesses.
Akon announced the deal on April 16 where he stated,
“This strategic partnership with MMTC will give Akoin a dominant position to control the market of 400 million people in East and Central Africa, many of whom rely on mobile digital transactions for their financial services.”
Akon’s Akoin will become the official currency of western Kenya metropolis. The deal will see the cryptocurrency secure its first public and large scale use case since its launch in 2018. The deal was also announced on Mwale Medical and Technological City’s Facebook page which partly read,
“Today we won a major digital currency partner Akoin for Hamptons Hospital transactions at a block down 2020 conference (Blockchain COVID-19 virtual event) that will support free payment transactions without fees at Mwale medical and technology city (MMTC).
“Akoin, unlike other mobile/digital payments in Kenya will not charge fees when used by customers or employees at MMTC.
“The initial pilot beginning in June 2020 will target 3000 to 5,000 customers and workers each performing on average 15 to 20 transactions a month for accumulative transactions of 1 million for the first year.
“It will then expand rapidly afterwards especially capitalizing on the government’s ban of cash transactions in Kenya due to COVID-19.”
This news comes just two months after Akon secured a deal with the Senegalese government that will see him build a futuristic city named Akon City.