Public Management

Construction of Akon City to start in Q1 2021

Construction of Akon City to start in Q1 2021
Wednesday, 09 September 2020 14:31

Giant rapper Akon (pictured) broke the ground on the construction of the green city ‘Akon City’ in Senegal. Construction works are expected to begin in the first quarter of next year.

The Wakanda-like city is valued at $6 million, or about 80% of Senegal’s state budget for 2020. Akon said 20% of the required investment is already available. The project is being implemented by US company KE International in collaboration with Bakri & Associates Development Consultants, which designed the city.

Akon City will cover 2,000 ha. Phase I of the project is expected to be completed in 2023 allowing the construction of roads, a campus, a hospital, a mall, residences, hotels, a police station, a school, a landfill for waste, and a solar plant to power the city with.

The city will be certified LEED (Leadership in Energy and Environmental Design), a North American system of standardization for high environmental quality buildings created by the US Green Building Council. A second phase between 2024 and 2029 will allow the completion of the city, which will operate exclusively with the “Akoin” crypto money. The project has already obtained the status of a special tax zone, which will allow it to benefit from the reduction of imports.

Gwladys Johnson Akinocho

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
WAEMU foreign exchange reserves rose to about $33 billion by end-October 2025. Import cover increased to six months from 3.8 months in...
CardinalStone Capital Advisers plans to raise $120 million for its second SME-focused fund in West Africa. The International Finance...
CBK rates' cuts to 9.0%, is ending the 'rentier' era. Banks must now pivot from risk-free state bonds to private lending as inflation...
BNP Paribas entered exclusive preliminary talks with Holmarcom to sell its 67% stake in BMCI. Holmarcom already owns 2.41% of BMCI and acquired...
Most Read
01

Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...

Omer-Decugis & Cie Expands Mango Operations in West Africa
02

AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...

From Mobile Data to Farm Loans: How AI Is Expanding Rural Credit in Africa
03

This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...

Weekly Health Update | Africa Steps Up Essential Medicines Strategy, Despite Outbreaks, Funding Gaps
04

Investment bank BCID-AES established  in Bamako Bank aims to fund infrastructure, agricultur...

Sahel Alliance Establishes Investment Bank, Key Financing Decisions Pending
05

Standard Bank extended a USD 138 million facility to STEP, acting as sole arranger and advisor to ...

$138 Million Standard Bank Facility to Power Safaricom's Ethiopia Business Expansion
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.