NEWS
Senegal Cancels Akon’s $6 Billion ‘Akon City’ Project Over Inaction, Missed Payments
Published
4 months agoon
By
WALE BUSARI
Senegal has officially scrapped plans for singer Akon’s ambitious $6 billion “Akon City” project after years of delays, unmet financial commitments, and no visible construction activity, according to a report by Bloomberg.
First unveiled in 2020, Akon City was promoted as a futuristic, tech-savvy city inspired by Marvel’s Wakanda. The smart city was to be built in Mbodiène, a quiet coastal village, and powered by renewable energy and Akon’s own cryptocurrency, Akoin.
However, five years later, Senegalese authorities have reclaimed the bulk of the 136-acre site initially allocated to the Senegalese-American artist. Officials cited a lack of progress and failure to meet agreed milestones.
“That project no longer exists,” said Serigne Mamadou Mboup, head of SAPCO-Senegal, the government agency responsible for developing coastal and tourism zones, in a statement to the national press agency.
Instead, SAPCO will move forward with a smaller-scale, state-backed tourism project in the same area. The new development is estimated to cost 665 billion CFA francs (around $1.2 billion) and will be largely funded by private investors.
Akon will retain just 8 hectares of the original land allocation, which officials say will be integrated into the broader government-led development.
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Hi, I’m Babawale Busari — a passionate storyteller, content creator, and observer of the world around me. I share compelling stories, current events, digital trends, and insightful commentary that spark thought and conversation. Whether it’s news, culture, tech, or everyday experiences, I believe every detail matters. Thanks for stopping by — let's explore the world, one post at a time.
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