Akon, the U.S.-born Senegalese musician, initially announced the $6 billion Akon City project in 2018, showcasing grand visions of a modern city powered by his cryptocurrency, Akoin. The project aimed to construct an eco-friendly city on a 800-hectare site in Mbodiène, about 100km from Dakar, featuring futuristic architecture and renewable energy solutions. However, despite the early enthusiasm, the site has remained barren, with only an incomplete reception structure marking its presence.
Serigne Mamadou Mboup, head of Senegal's tourism authority, confirmed the abandonment of Akon City, stating that the government and Akon have now agreed to pursue a more realistic venture. This shift comes after years of unfulfilled promises, as local residents voiced their grievances about job losses and lack of development. The ambitious phase one of Akon City, which was supposed to include community facilities and infrastructure by the end of 2023, never saw the light of day.
The Akoin cryptocurrency, meant to be a central currency within the city, has also faced challenges, leading Akon to acknowledge mismanagement of the digital currency. Furthermore, legal concerns surrounding Akoin's operations amid Senegal's traditional CFA franc economy raised additional barriers.
Officials attribute the project's seemingly perpetual stagnation to insufficient funding and failed construction efforts. With the approach of the 2026 Youth Olympic Games and expected growth in tourism, the land near Mbodiène retains strategic value. Moving forward, the Senegalese government plans to work alongside Akon to develop a more straightforward and practical initiative at the same location, bringing hopes of revitalization amidst disappointment.
