CAF Announces Massive Revenue as Patrice Motsepe Finally Returns African Football to Profitability

CAF president Patrice Motsepe has ended years of loss-making in African football after revealing profits for the first time following massive revenue in 2023-2024.

African football is celebrating a major win after the Confederation of African Football (CAF) announced profits for the first time in many years.

The Patrice Motsepe-led organisation has witnessed a major turnaround in its finances to reverse years of operating in the red and for the first time after a long period, it has announced profits following a great strategy overseen by the South African billionaire.

At the 47th CAF Ordinary General Assembly in Kinshasa, Democratic Republic of Congo on Monday, Motsepe revealed that CAF made a net profit of $9.48 million (Ksh1.2 billion) for the 2023-2024 financial year.

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What is Attributed to the Increased Revenue?

“This achievement reflects a strong increase in commercial revenues, driven by the growing global appeal of African football, the addition of new sponsors, and the implementation of strict financial controls by the CAF leadership,” read a statement from CAF.

“Four years ago, when CAF was facing a significant financial deficit and multiple challenges including several legal disputes, President Motsepe initiated a strategic turnaround plan aimed at making CAF and African football globally competitive and financially self-sustaining.

“Over and above declaring a profit for the first time in several years at the 47th Ordinary General Assembly in Kinshasa, CAF has significantly increased the investment in competitions, prize monies, financial support for zonal unions and Member Associations and spending in Development Programmes,” CAF further said.

CAF Breaks Down Has Money Was Spent

The turnaround reflects CAF’s strengthened commercial strategy and commitment to ensuring that financial growth directly benefits players, clubs, and Member Associations.

From the 2023-24 financial year, CAF saw its revenue grow to $166.42 million (Ksh21.5 billion), spending $ 81 million (Ksh10.4 billion) on increasing prize money, tournament organisation consuming $19 million (Ksh2.4 billion), football development taking $35 million (Ksh4.5 billion) while $21 million (Ksh2.7 billion) went to governance and administration.

The increased revenue was likely driven by the 2023 Africa Cup of Nations, staged in Ivory Coast between January and February 2024, with a record $80 million (Ksh10.3 billion) generated from the tournament.

CAF is confident of increasing its revenue even further going forward after strengthening its global positioning through high-profile partnerships and sponsorship agreements.