Akon’s $6 Billion Land For “Akon City” Taken Back By Government

Akon’s futuristic city is no more, as the government has announced alternative plans for the land, according to multiple outlets.

The “Locked Up” star’s wild vision for a $6 billion crypto-powered city has officially crumbled, and now the government is snatching the land back like overdue rent.

Initially announced in 2020, Akon City was intended to be a luxury destination on the Atlantic coast, modeled after Wakanda, and powered by his digital currency, AKOIN. Backed by big talk and a monster contract, the plan was to drop hospitals, malls, schools, and even a stadium in Mbodiène, a quiet town about an hour from Dakar. Phase one was originally scheduled to wrap up in 2023, with phase two extending to 2029, encompassing the introduction of businesses to operate on AKOIN and the development of universities and industrial zones.

But the blueprint never made it off the ground. Almost four years later, barely a shovel hit the dirt.

Sapco-Senegal, the state’s tourism and land agency, gave Akon a final warning last year: start building in two weeks or lose the land. He missed the deadline and, just like that, most of the property bounced back to the state. Sapco boss Serigne Mamadou Mboup didn’t sugarcoat it: “The project no longer exists,” he told Bloomberg.

Now, instead of a crypto capital, the government’s cooking up a more grounded game plan—a $1.2 billion revamp with hotels, apartments, a marina, and a scenic promenade by the lagoon. They want Mbodiène to be Senegal’s next tourist magnet, and the budget is real: 665 billion CFA francs.

Even though most of the dream slipped away, Akon ain’t fully out the picture. He’s still holding onto eight hectares and working with Sapco on a more “realistic” development, part of a much bigger 500-hectare plan. Mboup says they’re still riding with him, but the days of flying cars and AKOIN-only ATMs might be over.

No word yet on whether this flop affects Akon’s other smart-city hustle in Uganda. That project had the same high-tech, crypto-heavy pitch, but updates have been quiet.

Akon City made global headlines for its ambition, but it’s now a cautionary tale. Sometimes the dream sounds better in the booth than on a building site.