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
Chari raises record $12M Series A to expand fintech services Secures central bank license to launch super-app for merchants Moroccan...
Burkina Faso orders NGOs to use state-run bank for all funds Move follows arrests, aims to tighten oversight of foreign NGOs Burkina Faso issued...
The International Finance Corporation (IFC) plans to invest up to $25 million in the African Transition Acceleration Fund (ATAF). The fund aims...
Tunisia seeks $3.7B loan from central bank in 2026 Economists warn of inflation, liquidity risks from domestic borrowing IMF talks stalled;...

Most Read
01

Côte d’Ivoire traced 40% of cocoa for 2024/25 season Most cocoa remains untracked due to info...

With 40% of Its Cocoa Traceable, Côte d’Ivoire Faces a Race to Meet New E.U. Standards
02

• World Bank raises 2025 growth forecasts for Benin, Mali, Burkina, Côte d’Ivoire• Senegal and Niger...

World Bank Revises Up 2025 Forecasts for Four WAEMU Countries, Amid Falling Inflation
03

• AfDB chief Sidi Ould Tah met BOAD president Serge Ekué in Abidjan on Aug. 30.• Talks focused on jo...

AfDB, BOAD join forces to expand financing for West Africa projects
04

Indorama to invest $210M in Senegal phosphate sector upgrade ICS to expand fertilizer, acid ...

Indorama, Petrochemicals Major, to Invest $210 Million in Senegal Fertilizer Plant
05

Africa holds 30% of key minerals for green tech. Leaders urge local processing to boost value...

African Countries Chart a New Green Industrial Path, Powered by Critical Minerals
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.