Akon’s $6 billion futuristic city project in Senegal—touted as a beacon of technological innovation and economic progress—has been officially canceled, throwing the grand vision into disarray.
At a Glance
- Akon City project, worth $6 billion, has been permanently scrapped.
- The city was to operate on renewable energy and a cryptocurrency economy.
- Despite intentions, construction remains incomplete and devoid of development.
- Local disappointment stems from unfulfilled job and development promises.
- An agreement is in place for a more feasible project with local support.
Dream Deferred: The Unrealized Vision of Akon City
The idea was ambitious, the promise grand—Akon City, a $6 billion marvel in Senegal, was set to redefine urban living through technology and eco-friendliness. Introduced in 2018, the city was planned to be completed by 2023. Despite these promises, the site remains barren, with the project officially scrapped. The city was designed to utilize renewable energy and a cryptocurrency-based economy with its currency, Akoin. However, Akoin’s plummeting value and management missteps left the project stranded.
Akon's futuristic $6bn city project in Senegal abandoned, BBC told https://t.co/WKuzCuAkhk
— BBC News (World) (@BBCWorld) July 4, 2025
A project heralded as a convergence of futuristic design and African culture was never truly built beyond a reception building, leaving locals and investors facing an empty panorama of what could have been. Despite Akon’s assurances during 2022 of ongoing progress, tangible results were absent, deepening skepticism and fostering local disillusionment regarding the anticipated job and economic benefits.
Watch a report: Akon’s futuristic $6bn city project in Senegal abandoned, BBC told
A Shift Towards Realism
Akon’s affiliation with the high-tech utopia crumbled amidst financial shortfalls, stalled construction, and regulatory barriers posed by Senegal’s currency regulations. The Central Bank of West African States’ management of the CFA franc complicated cryptocurrency integration, while legal hurdles and unmet funding expectations further exacerbated the project’s cessation. Despite these setbacks, Senegal has pivoted to a more practical developmental trajectory for the site.
“The Akon City project no longer exists.” – Serigne Mamadou BBC News.
Fortunately, discussions between Akon and Senegal’s tourism development body, Sapco, have resulted in a new agreement for a more realistic, sustainable project. Akon’s admission of mismanagement underscores this transformation’s cautionary tale about the importance of tangible planning and resource allocation in executing such ambitious visions.
Future Prospects for African Development
Africa’s journey towards sophisticated, self-sustaining urban centers is undeniably challenged. Local residents’ unmet expectations and the halted advancements trigger broader reflections on Africa’s growth narrative. Nonetheless, the strategic importance of the land remains, particularly in light of upcoming events like the 2026 Youth Olympic Games and anticipated surges in tourism. As attention shifts to the planned realistic project, the lessons drawn from Akon’s vision could inspire vital strategic insights on managing large-scale development endeavors on the continent.
Indeed, the temporary fall of Akon City serves as both a cautionary tale and a guiding beacon for future African developments, indicating the vital role of grounded financial strategies and substantive managerial practices in nurturing visionary models into sustainable realities.
