CAF reduces deficit from $28.9m to $9.2m

The Confederation of African Football (CAF) has announced a significant financial turnaround, reducing its deficit from $28.9 million to $9.2 million in the 2022-2023 fiscal year.This was disclosed during the 46th CAF Ordinary Assembly, chaired by CAF President Dr. Patrice Motsepe, held in Addis Ababa, Ethiopia.The financial progress marks a major improvement compared to the previous year when CAF reported a deficit of $45 million.This positive trend is largely attributed to strategic reforms initiated by the CAF management in 2021, aimed at strengthening the organization's financial health.CAF has also projected a net profit of $11.7 million for the 2024-2025 fiscal year, signalling the first time in years that the governing body anticipates a financial surplus.This surplus is expected to further enhance CAF's ability to invest in the development of African football at all levels.Key drivers of the improved financial performance include increased revenue from media rights and sponsorship deals related to CAF competitions.This revenue growth has enabled the organization to increase financial support to its Member Associations, doubling annual subventions from $200,000 in 2021 to $400,000 in 2024-2025.CAF has also committed 84% of its expenditure toward African football development, emphasising prize money,...

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CAF reduces deficit from $28.9m to $9.2m

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