Senegal scraps Akon's $6 billion city project for $1.2 billion state-backed tourism hub

Business Insider

09-07-2025

Senegal has officially cancelled R&B singer Akon's ambitious plans to build a multibillion-dollar city along the country's Atlantic coast, replacing it with a more modest, privately funded development in light of economic pressures.
Senegal has canceled Akon's proposed Akon City project due to insufficient progress and financial complications.
Akon City was intended to be a $6 billion futuristic smart city transforming Mbodiène into a tech hub.
The land initially allocated for Akon City will now host a $1.2 billion scaled-back tourism development managed by Sapco.
Senegal has officially cancelled R&B singer Akon's ambitious plans to build a multibillion-dollar city along the country's Atlantic coast, replacing it with a more modest, privately funded development in light of economic pressures.
In 2020, Senegal granted Akon 136 acres of land to build his ambitious 'Akon City', a futuristic smart city envisioned to transform the quiet farming village of Mbodiène into a tech-driven urban hub.
Last August, Akon received a final formal notice from the Senegalese government to commence construction on his proposed $6 billion futuristic city or risk losing the land. The notice followed missed payments to Sapco, the state-owned agency tasked with developing coastal and tourism zones.
Now, the government has reclaimed most of the land originally allocated for the project inspired by Marvel's fictional Wakanda after little progress was made, according to Bloomberg.
'That project no longer exists,' said Serigne Mamadou Mboup, head of Sapco-Senegal, the state agency responsible for developing coastal and tourism zones, in comments to Senegal's national press agency.
The land will now be used for a scaled-back project led by Sapco, Senegal's coastal development agency, which plans to invest 665 billion CFA francs ($1.2 billion) to transform the area into a major tourism hub.
Funding amid fiscal strain
The government expects to raise 600 billion CFA francs from private investors, with the remaining 65 billion CFA francs to come from state funds.
However, Senegal's recent debt crisis, following the discovery of $7 billion in previously undisclosed liabilities, could pose challenges for fundraising.
Akon will retain 8 hectares of land, which will be integrated into a broader 500-hectare development backed by Sapco.
Despite the downsized scope, authorities say the new project will still deliver some of the benefits originally promised. Sapco estimates that the first phase could generate around 15,000 jobs, offering much-needed economic momentum for Mbodiène and nearby communities.