Senegalese Government Cancels $6B Akon City Crypto Project After 7 Years, Shifts to $1B Tourism Plan
The Senegalese government has officially canceled Akon City, a $6 billion cryptocurrency-powered urban development project led by musician and entrepreneur Akon, after seven years of stalled progress. The cancellation, announced by the government’s coastal development agency SAPCO, marks a significant pivot in the project’s direction. SAPCO will repossess most of the 500-hectare site, though Akon retains ownership of eight hectares for a yet-undefined new initiative [1]. The project’s original vision—a fully crypto-integrated city with Akoin as its primary currency—failed to materialize due to persistent challenges in execution, funding, and adoption.
The revised plan now focuses on a $1 billion tourism development supported…
