What happened to Akon City? Details explored as the $6 Billion dream project reportedly stalls in Senegal

After years of speculation, plans to develop the cryptocurrency-powered Akon City have reportedly been called off. The $6 billion project was announced back in 2018, but was never able to take off as it faced difficulties procuring the funds required to make the envisioned dream a reality.

The futuristic city was the brainchild of rapper Akon, who has partial Senegalese ancestry, and drew inspiration from comic books, specifically Wakanda from Marvel Comics, for the project. Reports mention that the purpose of the project was to turn the hinterlands of the agricultural region of Mbodiène into a smart city and accommodate the amenities and features of the world-class establishments.

What went wrong with Akon City?

According to Dexerto, showing its dedication to the cause, the Senegalese government even gave Akon 136 acres of land in 2020. A hospital was due to be completed at the site as part of a phased development approach. However, the project has reportedly been shut down due to minimal progress made at the site. The development of the smart city also suffered from legal issues and cryptocurrency complications associated the Akoin implementation.

The legal issues reportedly stemmed from the cryptocurrency Akoin meeting with strong opposition from Senegalese regulators, who refused to accept it as legal tender within the country. The mega plan of Akon City operated completely on solar energy and had projected a rise in the economy within the area, thereby raising the hopes of the local residents and businessmen who had thrown their weight behind the initiative.

The efforts have now fallen flat on their face, and the authorities are now looking to shift towards arguably more realistic development initiatives. The news of the project's cancellation was confirmed by Serigne Mamadou Mboup (head of the Senegalese tourism authority), who also shared his optimism for the potential new project by stating:

"The Akon City project no longer exists. Fortunately, an agreement has been reached between Sapco and the entrepreneur Alioune Badara Thiam [aka Akon]. What he's preparing with us is a realistic project, which Sapco will fully support."

The authorities are looking for a swift recovery to boost public morale and have already taken steps to reclaim the majority of the land that was given to the rapper for the development of Akon City. The land also holds particular importance for the Senegalese community, especially as the country prepares to host the 2026 Youth Olympic Games.

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