Akon’s $6 Billion ‘Akon City’ Dream Officially Abandoned
27 January 2026 – The ambitious vision of a futuristic, cryptocurrency-powered metropolis in Senegal, championed by singer Akon, has been formally scrapped. The $6 billion (£4.7 billion) project, often compared to the fictional nation of Wakanda from *Black Panther*, was officially abandoned in July 2025 after years of delays and mounting scepticism from Senegalese authorities.
The Rise and Fall of a Futuristic Vision
First announced with great fanfare in 2018, Akon City was envisioned as a solar-powered smart city running on Akon’s own cryptocurrency, Akoin. The singer, born Aliaune Damala Badara Akon Thiam, promised a development featuring gleaming skyscrapers, a state-of-the-art hospital, a university, and luxury resorts on Senegal’s Atlantic coast. The project was positioned as a beacon of African innovation and economic empowerment.
However, progress stalled almost immediately. Despite a symbolic groundbreaking ceremony in September 2020, where Akon laid a foundation stone, little substantive construction ever began. By 2024, the Senegalese government, through its tourism development agency Sapco-Senegal, had issued an ultimatum for work to begin or risk losing the land. With missed payments and no significant development, the project’s fate was sealed.
Key Facts: The Akon City Timeline
| Date | Milestone |
|---|---|
| June 2018 | Project first announced at Cannes Lions festival. |
| January 2020 | Memorandum of understanding signed with Senegalese authorities. |
| September 2020 | Symbolic foundation stone laid at the site near Mbodiène. |
| August 2024 | Senegalese government issues ultimatum to begin work. |
| July 2025 | Project officially abandoned. Land largely reclaimed by the state. |
Recent Musical Activity: The 2024 Superfan Tour
Parallel to his business ventures, Akon maintained his music career. In April 2024, the 50-year-old artist embarked on ‘The Superfan Tour’, his first major concert series in the UK and Europe for a decade. The tour included four UK dates in Birmingham, London, Glasgow, and Manchester, before continuing across mainland Europe.
The tour, which featured classic hits like ‘Smack That’, ‘Lonely’, and ‘Don’t Matter’, was promoted as a celebration of his 20-year career, which has seen him sell over 35 million albums worldwide and achieve five Grammy nominations.
Legacy and What Remains
With the collapse of Akon City, the singer stated he would pursue “more realistic projects and opportunities.” The Senegalese government has since pivoted to plans for a more modest, privately-funded $1.2 billion tourism development on part of the land. Akon retains a small portion of the original plot.
The only physical structures related to Akon City on the site are a partially built welcome centre, a youth centre, and a basketball court. The Akoin cryptocurrency, central to the city’s proposed economy, has seen its value plummet from $0.15 at launch to fractions of a cent.
Frequently Asked Questions
What was Akon City supposed to be?
Akon City was a planned $6 billion futuristic city in Senegal, designed to be a solar-powered smart city that operated using Akon’s own cryptocurrency, Akoin. It was inspired by the fictional nation of Wakanda from Marvel’s *Black Panther*.
Why was Akon City abandoned?
The project was abandoned due to a lack of progress, missed financial commitments, and failure to begin meaningful construction years after its announcement. The Senegalese government ultimately reclaimed most of the allocated land.
Did Akon recently tour?
Yes. In April 2024, Akon completed ‘The Superfan Tour’, performing in the UK and Europe for the first time in ten years. The UK leg included shows in Birmingham, London, Glasgow, and Manchester.
What is Akon’s net worth?
While exact figures are private, Akon’s wealth has been estimated in the tens of millions, stemming from his successful music career, record labels, and various business ventures, including his Akon Lighting Africa initiative.