The Confédération Africaine de Football has released the 2022-2023 audited financial report and 2024-2025 budget at the 46th CAF Ordinary Assembly held in Addis Ababa, Ethiopa, on Tuesday, 22 October 2022.
CAF said it reduced the deficit from USD 28.9 million to USD 9.2 million and recorded the highest distribution of financial support to member associations and zonal unions.
It also reduced deficits and increased revenues. CAF prizemonies increase by 40% with an additional $25.7m investment in football development.
The 46th CAF Ordinary Assembly was chaired by CAF President Dr. Patrice Motsepe.
According to CAF, 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.
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).
The Confederation’s subvention to zones increased by 50% (from $500,000 per zone in 2020-2021 to $750,000 per zone in 2024-2025).
It has also introduced a $50,000 allowance to clubs eliminated in the preliminary stages of the CAF Champions League and CAF Confederations Cup.
On its official website, CAF explained that ‘’The decision to allocate a significant portion of expenditure, specifically 84%, towards African Football Development is a strategic move that underscores CAF’s 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 and clubs and supporting the organisations responsible for hosting competitions.
Organising 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 CAF’s 10-point promise aimed at developing football from the grassroots to the professional level.
This strategic reinvestment highlights CAF’s dedication to using its financial resources to uplift African football and create a sustainable football ecosystem.’’
By: Rainbowradioonline.com/Ghana