REALITY CHECK | Senegal Cancels Akon’s $6 Billion Wakanda-Themed Crypto-Powered City Project

The Senegalese government has officially terminated its agreement with American-Senegalese singer and entrepreneur, Akon, over his ambitious plan to build a $6 billion Wakanda-inspired smart city.

The Minister of Tourism and Air Transport, Mr. Daouda Ndiaye, confirmed the cancellation in a statement released on July 10 2025, stating that the contract was annulled in 2023 due to Akon’s failure to fulfill contractual obligations.

“The state signed a memorandum of understanding with the promoter. However, due to the non-respect of the clauses, particularly the deadline to start construction, we decided to cancel the agreement,” said Ndiaye.

Initially announced in 2018, the futuristic project was to be developed on 500 hectares near Mbodiène, a coastal village some 120 kilometers from the capital, Dakar. It was marketed as a pan-African “smart city” powered entirely by renewable energy and using Akon’s cryptocurrency, Akoin, as its central medium of exchange.

The proposal captured global attention with promises of state-of-the-art hospitals, universities, luxury housing, shopping malls, and even a space for a Senegalese film industry – all inspired by the technologically advanced African kingdom depicted in Marvel’s Black Panther film.

However, the project never materialized beyond the ceremonial laying of the foundation stone. Local communities and critics increasingly questioned the lack of progress, transparency, and Akon’s frequent absences from the site.

In recent years, journalists and community leaders highlighted the absence of physical development and unmet expectations for job creation and economic growth in the region.

Akon had previously claimed that delays were due to the COVID-19 pandemic and fundraising challenges. “It’s a big vision, and we need time,” he said in earlier interviews, urging patience.

With the contract now canceled, the future of the site remains uncertain. The Senegalese government says it is open to new investors and projects that can better meet development goals and timelines.

In addition to the Senegalese city, another of Akon’s proposed cities in Uganda has also stalled. There, while the country’s President allocated one square mile of land to the singer in 2021, preliminary work has not even happened ‘because occupants resisted the move and sent away surveyors,’ Uganda Land Commission Secretary Andrew Nyumba.

Back in 2020, Akon had also partnered with the Mwale Medical and Technology Smart City in Western Kenya that would see the Akoin cryptocurrency become the main currency at the facility.

Back in Senegal, Mbodiene village chief, Diome, said his hopes that the singer would transform his community were dwindling.

“We’re still waiting,” he said.

Sign up for BitKE Alerts for the latest updates on crypto in Africa

Join our WhatsApp channel here.

_________________________________________