CAF Releases its 2022–2023 Financial Report and Forecasts net Profit for the Next Year
Tuesday, October 22, was the annual meeting of the leading decision-makers in African football in Addis Ababa.
Notably, FIFA chief Gianni Infantino attended the 46th CAF annual assembly. The 2024–2025 budget and the audited financial report for CAF for 2022–2023 were made public. The 2021 CAF leader, Patrice Motsepe, praised the organization’s decrease in losses. The losses were officially lowered from $28.9 million to $9.2 million.
We had to stem the bleeding right away because it was causing a lot of financial issues and challenges, and CAF’s financial situation was in a very bad place,” Motsepe disclosed.
In addition, world-class auditing procedures had to be implemented, governance and ethics had to be established, and progress had to be made—more than $50 million had been spent on competition alone in the past year. If you factor in that we had to pay Lagardere Sports $50 million for an old issue that we inherited that occurred a long, long time ago, the total comes to more like $100 million.
Motsepe emphasised the advancements being made in African football and expressed his optimism that an African country will soon win the World Cup, sport’s most cherished trophy.
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