The Senegalese government has officially cancelled the $6 billion (R106 billion) Akon City project. Years of sluggish growth and little progress at the planned site led to this decision.
The CEO of SAPCO (Company for the Development and Promotion of Senegal’s Coastal and Tourist Zones), Serigne Mamadou Mboup, admitted to the BBC on 4 July 2025 that the project “no longer exists”.
Due to the inability to meet construction deadlines and financial obligations, authorities repossessed most of the 136 acres that had been initially assigned to Alioune Thiam, also known as Akon.
PROJECT’S UNFULFILLED PROMISE
With its 2018 debut, Akon City aimed to transform Mbodiène into a hub for technology.
The proposal called for solar-powered medical facilities, schools, and shopping malls.
The main currency in the city was supposed to be Akoin, Akon’s cryptocurrency. Despite initial excitement and the 2020 foundation stone laying, the 800-hectare property has largely remained undeveloped.
There is no extra infrastructure and only a partially finished welcome building.
The reason for the cancellation is a documented failure to meet important payment deadlines and a lack of significant construction progress.
Local residents voiced their dissatisfaction after receiving promises of work and advancement opportunities. Akon accepted full responsibility for the mistreatment of Akoin.
Due to limitations of the CFA franc, the Senegalese central bank is against the use of Akoin.
REALISTIC DEVELOPMENT PLANNED
Instead of Akon City, the Senegalese government is pursuing a scaled-down, privately funded tourism development. The new project will include hotels, apartments, and a marina, with a construction cost of approximately $1.2 billion (R21.01 billion).
In addition, Akon will maintain about eight hectares of the larger 500-hectare resort area.
With an emphasis on achievable goals, SAPCO will support Akon’s “pragmatic initiative”.
Furthermore, the revised plan hopes to attract private investment and create 15 000 job opportunities.
While preliminary planning has started, including a receiving pavilion and public facilities, full-scale hotel, marina, and promenade construction has not yet started.
AKON’S CONTINUED INVOLVEMENT
Despite the cancellation of his ambitious project, Akon will continue to work on the updated development. Previously, he acknowledged that the management of the Akoin coin was inadequate.
Adapting to Senegal’s current economic circumstances, the shift to a more conservative approach aims to leverage the country’s tourism potential.
This change reflects a move towards realistic and attainable outcomes.
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