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DRC: Senegalese Hip Hop Star Akon Signs Mining Deal

DRC: Senegalese Hip Hop Star Akon Signs Mining Deal

Hip hop artist Akon has launched yet another business endeavour on the African continent.

This time the impressive undertaking is in the mining industry in the Democratic Republic of Congo as he has signed a deal to finance a copper and cobalt mine in the central African country in a joint venture with a state miner.

The Senegalese star is delving into the sector by way of the firm White Waterfall LLC which is registered in the United States and sees Akon — whose birth name is Aliuane Thiam, recorded as both the President and the CEO of the company as per contracts published on the mines ministry website.

Perhaps not a surprise as Akon has already publicly spoken about his interest in and admiration for DRC.

One of the contracts reportedly signed the Grammy-nominated singer on December 14 of last year, reveals a commitment of White Waterfall to pay a $2 million signing bonus and to finance a feasibility study of the Kimono reserve in Haut Katanga province.

Time Will reveal More About the Project

Akon, his team and his company representatives are yet to fully open up to the public and international media about the project — apparently the most recent in a string of business and philanthropic moves on the African continent over the last decade.

Click on the link below for full report

Source: AfricaNews

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