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4d ago

Senegal Cancels $6 Billion Akon City Project

Senegal has reclaimed the site for a $1.2 billion tourism development built around Akon’s retained 20 acres, timed to coincide with the 2026 Youth Olympic Games.

RIO DE JANEIRO, BRAZIL - SEPTEMBER 22: Akon performs on the Mundo Stage during the Rock in Rio festival at Cidade do Rock on September 22, 2024 in Rio de Janeiro, Brazil. (Photo by Wagner Meier/Getty Images)
Akon looking off a balcony
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Overview

  • Senegal’s tourism authority confirmed on July 4, 2025, that the $6 billion Akon City project has been canceled after years of missed milestones and funding gaps.
  • SAPCO has reclaimed the Mbodiène site and unveiled a $1.2 billion tourism development featuring hotels, apartments, a marina and other visitor amenities.
  • Akon retains rights to roughly 20 acres of the original site and will collaborate with SAPCO on future phases.
  • The original project faltered due to difficulties securing funding and regulatory rejection of the Akoin cryptocurrency under the CFA franc regime.
  • The cancellation highlights the challenges of large-scale, celebrity-led smart-city initiatives in West Africa facing logistical delays and financial constraints.