Grammy-nominated singer has got to be the greatest social investor from Africa. 

The American-based singer who is originally from Senegal is planning to build a futuristic city in Senegal and base its entire economy around a new cryptocurrency named after himself.

The multi-platinum-selling music producer unveiled the ambitious project at a creative festival in Cannes, where he spoke at a panel titled Branding Africa: Blockchain, Entrepreneurship and Empowering the Future.

Akon told an audience at the Cannes Lions International Festival of Creativity that his proposed cryptocurrency - dubbed AKoin - could be "the saviour of Africa in many ways" because of how secure it would be.

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It would all be based on a mobile app, which he said would allow citizens of Akon Crypto City "to utilise it in ways where they can advance themselves and not allow government to do those things that are keeping them down".

According to the official AKoin website, the 45-year-old - who has founded two successful record labels - has already been gifted 2,000 square acres of land for his planned city by Senegalese President Macky Sall.

The website describes it as a "real life Wakanda" - the hi-tech fictional African nation which served as the backdrop for Marvel's award-winning ''Black Panther'', which grossed more than $1.3 billion at the box office after its release in February.

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