Overview

• Serigne Mamadou Mboup of Sapco declared that “the Akon City project no longer exists,” marking an official end to the singer’s futuristic metropolis vision.
• Akon has publicly conceded that the initiative “wasn’t being managed properly” and has taken full responsibility for its failure.
• Construction had stalled since 2020 with only a partially built reception hall and no essential roads, housing, or power grid on the 800-hectare site.
• The model’s reliance on Akon’s Akoin cryptocurrency collapsed when the token’s value fell to fractions of a cent and the Central Bank of West African States barred it as legal tender.
• Sapco has yet to release specifics of the redesigned project but says it will prioritize feasibility and avoid past funding and management failures.