Idris Elba Expands His Vision for Africa With New Financial Tool Launch in Ghana

“The Akuna Wallet is really geared toward the creative sector,” Elba tells OkayAfrica. “Being from the creative sector and working across Africa, I see the real bottlenecks that can be alleviated with technical, financial solutions. The creative economy is often overlooked, but it can be a major economic driver.”

Akuna Wallet is the latest in a series of ambitious Africa-based projects Elba has unveiled in 2024, including plans for an eco-city in Sierra Leone and a film studio in Zanzibar.

Elba emphasizes that his focus on Africa is not new, but his recent investments across the continent are all interconnected. His mission is to build a sustainable creative ecosystem throughout Africa.“It’s all multi-layered,” he said. “I’ve been working on this jigsaw for years. “It isn't just building studios or creating education programs. It’s about creating an environment that allows creativity to happen. So I’m interested in how we can change that.”

The wallet enables users to receive international payments through a virtual U.S.-based bank account. Users can either hold funds in the wallet or convert them to local currency for immediate use, a game-changer for creatives in countries where international banking access is limited. Many African creators struggle to use global platforms due to foreign bank account requirements, high fees and slow transfer processes.

“Blockchain provides the underlying technology,” says Denelle Dixon, CEO of SDF. “But for the user, it’s a simple wallet that allows them to get paid easily and affordably. So we're really focused on that outcome of creating economic freedom and opportunity for everyone. ”

Designed as a versatile tool, the wallet provides a single entry point not only for payments but also for a range of activities. Creators will eventually use it for crowdfunding projects, such as film financing, while also sending money to family or paying local collaborators.

Ghana was selected as the first location to launch the Akuna Wallet for both personal and regulatory reasons. With his mother being Ghanaian, Elba has deep ties to the country, making it a natural first choice. Additionally, the team has been collaborating closely with the Bank of Ghana to ensure the regulatory framework is in place for a successful launch, which is scheduled to take place in the coming weeks.

“We want to understand it as much as possible before we roll out to other countries,” Elba says.