Overview

• Serigne Mamadou Mboup, head of state tourism agency SAPCO, confirmed that Akon City has been officially canceled.
• Under the new agreement, Akon will spearhead a smaller, privately funded tourism hub in Mbodiène with full SAPCO support.
• Construction efforts left only an incomplete reception building on the Mbodiène site, with no roads, housing or power grid completed.
• Akon’s Akoin cryptocurrency had suffered mismanagement and investor losses that undermined project financing.
• Senegal’s mounting debt crisis and strict CFA franc regulations constrained large-scale crypto-driven investment.