CAF boosts prize money by 40% as deficit shrinks

The Confederation of African Football (CAF) has announced a 40% increase in prize money distributions, following significant financial improvements.

This development was revealed during the 46th CAF Ordinary Assembly in Addis Ababa, Ethiopia, where CAF presented its 2022-2023 audited financial report.

CAF’s financial health has improved dramatically, reducing its deficit from $28.9 million to $9.2 million within the fiscal year.

This turnaround has been attributed to strategic reforms and growing revenues, particularly from media rights and sponsorship deals under CAF President Dr. Patrice Motsepe.

With the increase in revenues, CAF has made bold investments in African football, with prize money allocations reaching $56 million.

This 40% rise reflects CAF’s commitment to rewarding excellence and enhancing competition standards for national teams and clubs across Africa.

In addition to increased prize money, CAF has also doubled its financial support for Member Associations, raising annual allocations from $200,000 to $400,000. Similarly, subventions to Zonal Unions have risen by 50%.