The Confédération Africaine de Football (“CAF”) have continued their major financial turn-around under the leadership of Dr. Patrice Motsepe.
CAF released the 2022/2023 audited Financial Report and 2024/2025 budget at the 46th CAF Ordinary Assembly held in Addis Ababa, Ethiopa on Tuesday.
Motsepe, who was elected the seventh president of CAF in March 2021, will stand for re-election for a second term next year, and he has some powerful argument as losses of CAF were reduced by 68% and a net profit is projected for the next financial year.
“CAF achieved a significant financial turnaround in the 2022-2023 fiscal year, with a remarkable reduction in losses from USD 28.9 million (R511 million) to USD 9.2 million (R163 million),” read a media statement.
Join the iDiski Times WhatsApp Channel for all latest SA football news directly to your phone.
“A year before, CAF deficit was sitting at USD 45 million (R796 million). This continued positive development is primarily attributed to the strategic reforms implemented by the CAFs management in 2021.
“From the budgeted revenues in 2024/2025, CAF is projecting a net profit of $11.7 million (R207 million) – for the first time in a a long time.”
In addition, Motsepe also confirmed that all CAF member federations such as the South African Football Association (SAFA) will now receive USD 400 000 (R7 million) from USD 200,000 (R3.5 million).
“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.
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.”
