Julius Okorie
Confederation of African Football (CAF) released an impressive 2022-2023 audited Financial Report, with 68% reduction in deficit Tuesday.
The Continental soccer ruling body released the report as its 46th Ordinary Assembly held in Addis Ababa, Ethiopia.
Join our WhatsApp ChannelThe Patrice Motsepe lead body revealed that it achieved a significant financial turnaround in the 2022-2023 fiscal year, with a remarkable reduction in losses from USD 28.9 million to USD 9.2 million.
Recall that in the previous year ,CAF deficit was sitting at USD 45 million. This continued positive development is primarily attributed to the strategic reforms implemented by the CAFs management in 2021.
Here Are Other Take-home From The 46th AGM:
From the budgeted revenues in 2024-2025, CAF is projecting a net profit of $11.7 million – for the first time in a a long time.
This financial health will enable CAF to deliver on its mandate of developing football in Africa.
Under the leadership of CAF President Dr Patrice Motsepe, CAF has achieved the highest revenues in CAF Competitions as media rights and sponsorship revenues continued to grow significantly.
The increased revenues have enabled CAF to spend more in Financial Support for the Member Associations and Football Development progrmme. More than ever before, more is being allocated to driving Development Programmes, Schools Football, Match Officials and TV production.
100% Increase Of Annual Financial Support For Member Associations
At the 46th CAF Ordinary Assembly, CAF President Dr Patrice Motsepe confirmed the 100% increase of annual Financial Support (subventions) for Member Associations to USD 400 000 (from 200,000 in 2021)– a significant moment for Nations who have been struggling to fund football activities.
Expenditure
The decision to allocate a significant portion of expenditure, specifically 84%, towards African Football Development, is a strategic move that underscores CAFs commitment to nurturing and growing the football ecosystem.
Prize money and Host Association Support USD 56 million: This represents the largest portion of the expenditure, showcasing a continued focus on rewarding excellence via distributions to National teams, Clubs and supporting the organizations responsible for hosting competitions.
READ ALSO:AFCON Qualifier: Nigeria, Libya To know Fate Wednesday As CAF Meets
Organizing Competitions USD 28.1 million: This allocation covered the costs associated with planning and executing football competitions, ensuring a high-quality experience for players, officials, and fans.
Football Development Programmes $32.3m: This investment directly supported CAFs 10-point promise aimed at developing football from the grassroots to professional level.
This strategic reinvestment highlights CAF’s dedication to using its financial resources to uplift African football and create a sustainable football ecosystem.
Areas of Investment
CAF is significantly increasing its investment in football development for the 2024-2025 fiscal year. We expect an overall investment of $29.8m in the below areas:
CAF Subvention to Member Association increased by 100% (from $200,000 per MA in 2020-2021 to $400,000 per MA in 2024-2025)
CAF Subvention to Zones increased by 50% (from $500,000 per Zone in 2020-2021 to $750,000 per Zone in 2024-2025)
Introduction of $50,000 Allowance to Clubs eliminated in the preliminary stages of the CAF Champions League and CAF Confederations Cup
Julius Okorie is Chief Sports and Entertainment Correspondent for Prime Business Africa. He began his journalism career with the Champion Newspaper and Sporting Champion and later moved on to Daily Independent and the Nation Newspapers. Okorie joined Prime Business Africa in 2024 bringing on board 20 years of experience in writing investigative news on Sports and Entertainment. His well researched and highly informative articles on Sports Business and general entertainment are followed by a wide range of audience.
