Akon's futuristic $6bn city project in Senegal abandoned, BBC told

July 4, 2025

The ambitious "Akon City" project in Senegal, announced by singer Akon in 2018 with a $6 billion price tag and its own cryptocurrency, has been officially scrapped according to Senegal's tourism development body. After five years of minimal progress, with only an incomplete reception building on the 800-hectare site, the government has terminated the futuristic development that had been compared to Marvel's fictional Wakanda. Local residents who were promised jobs and development have seen no changes, while the associated Akoin cryptocurrency has struggled financially.

Who is affected

Local residents of Mbodiène who were promised jobs and development
Investors in the Akoin cryptocurrency who have struggled to be repaid
The Senegalese government and its tourism development body (Sapco)
Potential future tourists and visitors to the region
Youth Olympic Games attendees in 2026

What action is being taken

The Senegalese government is terminating the original Akon City project
Sapco is now working with Akon on a more "realistic" development project for the same site
The government is maintaining focus on the strategic value of the land near Mbodiène
Preparations are being made for increased tourism activity expected with the approaching 2026 Youth Olympic Games

Why it matters

The $6 billion project was presented as a vision for Africa's future but failed to materialize after five years
Local communities have received none of the promised economic benefits and development
The project's failure raises questions about celebrity-backed development initiatives
The site remains strategically important for Senegal's tourism development plans
The associated cryptocurrency (Akoin) faced regulatory challenges as Senegal uses the CFA franc regulated by the Central Bank of West African States

What's next

No explicit next steps stated in the article

Read full article from source: BBC