After enduring years of financial instability, the Confederation of African Football (CAF) has finally achieved profitability, a significant milestone that may allow the Super Eagles and Super Falcons to benefit financially in forthcoming tournaments.
During its 47th Ordinary General Assembly convened in Kinshasa, DR Congo, CAF reported a net profit of USD 9.48 million for the 2023 – 2024 financial year, marking its first positive balance sheet in several years.
The organisation’s total revenue surged to USD 166.42 million, propelled by an increase in sponsorship agreements, enhanced financial oversight, and a growing global interest in African football.
CAF President, Dr. Patrice Motsepe, characterized this development as a “turning point for the financial independence and sustainability of African football.”
CAF clarified that the profit will be reinvested into competitions, infrastructure, and member associations, a strategy anticipated to enhance prize earnings for national teams and clubs throughout the continent.
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Among the adjustments: The prize for the CAF Champions League winners increased by 60% to USD 4 million; the reward for WAFCON champions doubled to USD 1 million; and the AFCON 2023 winners received USD 7 million, reflecting a 40% rise from the previous edition.
For Nigeria, this indicates that the Super Eagles and Super Falcons are poised to benefit significantly in upcoming tournaments as CAF solidifies its financial stability.
With 16 commercial partners now engaged, CAF asserts that the period of deficit spending has concluded. The organisation anticipates increased funding for grassroots development, women’s football, and club competitions, heralding what many insiders are referring to as “a new dawn for African football.”
