CAF reports financial turnaround with major investment in football development

The Confederation of African Football (CAF) has announced a financial turnaround at the 46th Ordinary Assembly held in Addis Ababa, Ethiopia.

The assembly, chaired by CAF President Dr. Patrice Motsepe, unveiled the audited Financial Report for the 2022-2023 fiscal year and the budget for 2024-2025.

Notably, CAF has reduced its losses from USD 28.9 million to USD 9.2 million, a remarkable improvement that highlights the effectiveness of strategic reforms implemented since 2021.

With a projected net profit of USD 11.7 million for 2024-2025, CAF is poised to strengthen its commitment to developing football across Africa.

This financial health will allow for increased investment in Member Associations and football development programs.

Dr Motsepe confirmed a 100% increase in annual financial support for Member Associations, raising the subvention from $200,000 to $400,000.

This boost is especially crucial for nations struggling to fund their football activities.

A substantial portion of CAF’s expenditure, specifically 84%, will be directed towards football development. Key allocations include $56 million for prize money and host association support, and $32.3 million dedicated to football development programs aimed at nurturing talent from grassroots to professional levels.

Additionally, there will be a 50% increase in subvention for Zonal Unions, from $500,000 to $750,000.

CAF’s renewed financial outlook and strategic investments is a significant step forward in uplifting African football.