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Akon City

Akon City
French: Ville d'Akon Wolof: Dëkku Akon
Planned city
Akon City is located in Senegal
Akon City
Akon City is located in Africa
Akon City
Coordinates: 14°14′N 16°52′W / 14.23°N 16.87°W / 14.23; -16.87
Country Senegal
Region,Thiès Region
DepartmentM'bour Department
Establishment2026 (planned first phase)
Founded by
  • Akon (creatively)
  • Senegalese government (fiscally)
Time zoneUTC+0 (GMT)
Websiteakoncity.com

Akon City is a planned community in the M'bour Department of Senegal by Senegalese singer and entrepreneur Akon. The project was first announced by Akon in 2018.[1] Akon said in October 2022 that construction of the city's first phase would begin in 2023 and be completed in 2028. Akon said he was inspired by the movie Black Panther, and he refers to Akon City as a "real-life Wakanda" that uses the latest technologies of blockchain and cryptocurrency.[2]

History

Akon discussing Akoin at WebSummit in Lisbon
Akon discussing Akoin at WebSummit in Lisbon

Akon announced Akoin, a cryptocurrency, at the Cannes Lions International Festival of Creativity in 2018. On January 15, 2020, Akon announced plans for Akon City. In September 2020, Akon unveiled a rendering of a planned development of a futuristic city along the Atlantic coast.[3] It is 100 km (62 mi) south of Dakar in Senegal. The planned city would feature condominiums, offices, parks, a university, an ocean resort, and a 5,000-bed hospital. The city is intended to attract tourists and investors; Akon told international media in August 2020 that he planned to retire there. Later renderings included fewer skyscrapers but retained a futuristic design.[4] The city would be located near what is now the village of Mbodiène, a small rural village of about 1,500 people who primarily rely on the agricultural industry.[5]

Another Akon City was announced in Uganda on April 6, 2021, by Akon alongside Dr. Chris Baryomunsi, the state minister for Housing and Urban Development, after Akon had met for discussions with Ugandan president Yoweri Museveni.[6][7][8] Akon further discussed the entire 15-year development project and its alleged benefits to Ugandans in an interview on Uganda's NBS TV with Canary Mugume.[9]

Design

The project is planned to have large skyscrapers, shopping malls, technology hub, music studios, "Senewood" production facilities, and eco-friendly tourist resorts.

Akon City's development is proposed to be a ten-year project with mixed-use development. Akon says that the city will be a smart city that is eco-friendly and will be powered by renewable energy, including solar power. It is a LEED-certified project. The project's stated primary goal is to stimulate the local economy and to create jobs for local workers.[10][11] Akon City developers are Los Angeles–based KE International and Dubai-based Bakri & Associates Development Consultants. Hussein Bakri, the CEO of Bakri & Associates, is the lead architect.[12][13]

As originally announced, Akon City consisted of two phases of development.

Phase 1: Proposed to be completed by 2023 is the construction of roads, a hospital campus, a shopping mall, residential estates, hotels, a police station, a school, a waste facility, parks, and a photovoltaic solar power plant.

Phase 2: The project is proposed to complete between 2024 and 2029.

In an October 2022 interview with DJ Vlad, Akon said that Phase 1 would open by 2026.[14]

Economy

Akon envisions Akoin, a cryptocurrency which he founded, to be the central currency.[15][12][16][17][18] The Central Bank of West African States, which regulates and issues Senegal's official currency, the CFA franc, described the use of an alternative currency as illegal.[19] The Akoin cryptocurrency began trading in September 2021 at £0.23 (GBP), and as of December 2022, was worth £0.01.[4]

Akon raised funds for the project by selling Tokens of Appreciation (TOA) in a campaign that ended in October 2019; each $1 (USD) donated would be converted to up to four TOA, which would later convert to Akoin. Two years after the TOA campaign concluded, an administrator offered cash refunds for TOA; a year after that offer was made, no refunds have been issued.[4]

Controversy

As of February 2024, the project has barely begun construction, with only one building—the Welcome Center—being partially complete.[20] In September 2021, locals in Mbodiène cited the COVID-19 pandemic as a possible cause for the delay.[21] A local journalist visited the site in December 2022, and apart from a foundation stone laid in a ceremony in 2020, found no sign of construction. Akon told the BBC, "It wasn't being managed properly. I take full responsibility for that."[4]

A lawsuit has been brought against Akon in the United States by Devyne Stephens for a debt of almost $4 million (USD) borrowed as part of the implementation of his futuristic city project. Akon's team has disputed Stephens' claims as "innuendo and speculation."[22] In April 2022, part of the lawsuit was settled for $850,000, equivalent to $884,990 in 2023.[23][20]

Additionally, Akon City has encountered challenges pertaining to land rights. Specifically, there are instances where citizens, who were previous landowners, are entitled to compensation from the Senegalese government, yet some remain unpaid.[20]

Potential cancellation

In August 2024, Sapco-Senegal, the Senegalese national tourism and coastal development entity, has issued Akon an ultimatum to initiate his project or return 90% of the land that was governmentally granted to him. The ultimatum was issued by General Manager Serigne Mboup in response to him failing to fulfill several payments to Sapco.[24] Although the city's infrastructure was planned to depend on Akoin, over the last few years since its launch in 2020, its price has dropped from $0.15 to just $0.003. The city's first phase was scheduled for completion by 2023, but COVID-19 and other setbacks have delayed its development indefinitely. Local residents who have sacrificed their own land for the project have yet to be compensated.[25]

References

  1. ^ Adepoju, Paul (June 25, 2018). "Musician Akon is creating a futuristic city and his own cryptocurrency in Senegal". CNN. Retrieved December 14, 2023.
  2. ^ Pires, Samantha (December 26, 2020). "Singer Akon is Spending $6 Billion to Build a 'Real-Life Wakanda' in Senegal". mymodernmet.com.
  3. ^ Paquette, Danielle (September 1, 2020). "Akon just unveiled his $6 billion 'futuristic' city in Senegal. The reviews are mixed". The Washington Post. ISSN 0190-8286. Retrieved February 25, 2021.
  4. ^ a b c d Griffin, Jonathan (December 24, 2022). "Akon's Wakanda, grazing goats and a crumbling crypto dream". BBC News. Retrieved December 24, 2022.
  5. ^ Peyton, Nellie (December 14, 2020). Griffiths, Lyndsay (ed.). "Future or fantasy? Senegal questions 'Akon City'". Thomson Reuters Foundation.
  6. ^ Manns, Keydra (April 5, 2021). "Akon to build second futuristic city in Uganda". TheGrio.com. Retrieved April 9, 2021.
  7. ^ Hamilton, Xavier (April 5, 2021). "Akon Set to Build Futuristic, Cryptocurrency-Based City in Uganda". Complex. Retrieved April 9, 2021.
  8. ^ Farzan, Antonia Noori (April 6, 2021). "Akon hasn't even built his first 'futuristic' city yet, but Uganda is giving him land for a second". The Washington Post. ISSN 0190-8286. Retrieved April 9, 2021.
  9. ^ Kazibwe, Kenneth (April 6, 2021). "Akon explains his futuristic city and how it will benefit Ugandans". Nile Post. Retrieved April 9, 2021.
  10. ^ Srikanth, Anagha (December 28, 2020). "Singer Akon is raising $6B to build a real-life Wakanda straight out of the movie 'Black Panther'". The Hill.
  11. ^ "Senegal's Tourism Gets Huge Boost from 'Akon City' Project". hotelandtourismonline.com. August 12, 2020. Archived from the original on April 13, 2021.
  12. ^ a b Smithson, Aaron (December 31, 2020). "Akon moves ahead with crypto city in Senegal despite skepticism". The Architect’s Newspaper.
  13. ^ Takouleu, Jean Marie (September 6, 2020). "SENEGAL: Akon City, the Green City Project is launched at a cost of $6 billion". Afrik21.
  14. ^ Yates, Shanique (October 19, 2022). "Akon Says The First Phase Of Akon City Will Open In 2026, Reveals City Will House Africa's Largest Hospital". AfroTech. Retrieved December 24, 2022.
  15. ^ Adepoju, Paul (June 25, 2018). "Musician Akon is creating a futuristic city and his own cryptocurrency in Senegal". CNN.com.
  16. ^ Akinwotu, Emmanuel (September 1, 2020). "Music mogul Akon going ahead with futuristic 'Akon City' in Senegal". theguardian.com.
  17. ^ Lynn, Samara (November 15, 2018). "Akon's Tech Utopia". Black Enterprise.
  18. ^ Salaudeen, Aisha (September 2, 2020). "R&B singer Akon is building a 'real-life Wakanda' worth $6 billion in Senegal". CNN.com.
  19. ^ Kobo, Kingsley (April 10, 2021). "Akon wants to run a Senegal city on cryptocurrency—could it work?". Quartz. Retrieved December 24, 2022.
  20. ^ a b c Khan, Aina J. (December 4, 2023). "Akon City: tumbleweed rolls through site of rapper's Wakanda-inspired dream". The Guardian. Mbodiène.
  21. ^ "Singer Akon's Senegalese 'Wakanda' city unstarted, locals left in dark". Africanews. September 3, 2021.
  22. ^ Bell, Breanna (March 10, 2022). "Akon Accused of Running 'Ponzi Schemes'". popculture.com.
  23. ^ 1634–1699: McCusker, J. J. (1997). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States: Addenda et Corrigenda (PDF). American Antiquarian Society. 1700–1799: McCusker, J. J. (1992). How Much Is That in Real Money? A Historical Price Index for Use as a Deflator of Money Values in the Economy of the United States (PDF). American Antiquarian Society. 1800–present: Federal Reserve Bank of Minneapolis. "Consumer Price Index (estimate) 1800–". Retrieved February 29, 2024.
  24. ^ Hoije, Katarina; Ojambo, Fred (August 2, 2024). "Singer Akon's Multibillion-Dollar Futuristic City in Africa Gets Final Notice". bloomberg.com. Retrieved September 27, 2024.
  25. ^ Dan-Awoh, Deborah (August 3, 2024). "Singer Akon's $6 Billion futuristic African City project gets final warning deadline". nairametrics.com. Retrieved September 27, 2024.
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