By Nana Kwame Bediako
The Confederation of African Football (CAF) has announced a remarkable financial achievement, reporting a US$72 million profit from the 2023 Africa Cup of Nations (AFCON) finals held in Côte d’Ivoire.
This impressive figure was revealed by CAF president Dr. Patrice Motsepe during the organisation’s 46th Ordinary General Assembly, which took place on October 22nd in Addis Ababa, Ethiopia. The profit marks a significant milestone for CAF, highlighting the growing popularity and commercial success of African football on the global stage.
During his address at the Ethiopian Skylight Hotel, Motsepe shared CAF’s ambitious financial projections for the 2024-2025 fiscal year. The football governing body anticipates generating nearly US$150 million in revenues, with planned expenditures set at US$138.2 million. This financial strategy underscores CAF’s commitment to maintaining its upward trajectory while ensuring sustainable growth and development across the continent.
A key aspect of CAF’s financial plan involves directing approximately 30% of its budget towards development programs and contributions to its 54 member associations. This investment is aimed at nurturing the growth of African football at both grassroots and professional levels, ensuring that the sport continues to thrive and produce world-class talent. By prioritizing development, CAF seeks to create a robust foundation for the future success of African football.
Looking ahead, Motsepe outlined CAF’s long-term goal to increase its revenue to an ambitious US$1 billion within the next eight years. This vision reflects CAF’s determination to elevate African football to new heights, leveraging its financial success to enhance infrastructure, training, and competitive opportunities for players and teams across the continent. The pursuit of this goal will require strategic partnerships and innovative approaches to expand CAF’s reach and influence.
As CAF prepares for the future, Motsepe, who is expected to seek re-election next year, remains focused on driving the organisation’s mission forward. The recent financial success and ambitious plans signal a promising era for African football, with CAF poised to play a pivotal role in shaping the sport’s global landscape.