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2d ago

Senegal Scraps Akon City Vision for Scaled-Down Coastal Development

Senegal’s tourism authority said it will collaborate with Akon on a practical coastal development to bolster facilities for the 2026 Youth Olympic Games.

A rendering of Akon city, designed to be a top tourism destination in Senegal.
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Overview

  • On July 4, 2025, SAPCO head Serigne Mamadou Mboup confirmed that the original $6 billion Akon City project has been officially canceled.
  • The smart-city plan, unveiled in 2018 and formally launched in 2020, aimed to create an eco-friendly metropolis powered by solar energy and the Akoin cryptocurrency.
  • By mid-2024, construction had stalled with only a half-finished reception hall on the 800-hectare site and no roads, housing, or operational power grid.
  • Authorities cited funding shortfalls, regulatory resistance from the BCEAO against cryptocurrency as legal tender, and a crash in Akoin’s value among key obstacles.
  • SAPCO and Akon have agreed to pursue a more modest, tourism-oriented development on the coastal land in preparation for the 2026 Youth Olympic Games.