CAF Exits Commercia ICU With 17% Increase In Revenues

During the CAF 45th Ordinary General Assembly in Abidjan, Cote d’Ivoire, CAF announced a remarkable achievement in commercial revenues, reaching USD $125.2 million. This represents a significant 17% year-on-year increase, showcasing the organization’s positive trajectory towards financial recovery.

The surge in revenue growth, a notable increase of $21.6 million compared to the previous financial year, can be attributed to enhanced sponsorships and television rights secured by CAF. These developments underscore CAF’s commitment to bolstering financial stability and sustainability.

In line with President Dr Patrice Motsepe’s vision of self-sustaining African football, CAF allocated a considerable portion of the revenue increase to competition expenses. The investment in prize money and tournaments experienced a substantial 26% surge, totaling $78.9 million. This investment reflects CAF’s dedication to developing CAF Competitions and elevating African football to new heights.

To achieve financial resolution, CAF addressed longstanding disputes with select partners through out-of-court settlements. Additionally, CAF adhered to accounting standards provisions recommended by auditors, which were duly reflected in the Financials. The year under review showcased an improved total comprehensive loss position, amounting to $15.7 million, signifying progress from the previous year.

Looking ahead, CAF aims to deliver a diverse array of premier competitions in the 2023/2024 financial year. These include the Inter Club competitions (TotalEnergies CAF Champions League and TotalEnergies CAF Confederation Cup), CAF Super Cup, CAF Women’s Champions League, FUTSAL, and Africa Schools Program. A budget of $110 million has been allocated to organize and provide prize money for these prestigious competitions. The objective is to amplify the global popularity and stature of CAF’s flagship tournaments.

Furthermore, CAF has increased development expenditure from $19.3 million to nearly $24 million. This augmentation reflects a heightened focus on supporting Member Associations and Zonal Unions for Football Development across the continent.

CAF remains dedicated to investing in football development, with specific attention to Women and Youth competitions, referee capacity building, implementation of Video Assistant Referees (VAR) at the zonal level, and strengthening governance and controls regarding funding to Member Associations and Zones.

Looking forward to the 2022/2023 financial year, CAF maintains an optimistic outlook, albeit adopting a cautious approach. Anticipating the upcoming TotalEnergies Africa Cup of Nations in Cote d’Ivoire in January 2024, CAF projects further revenue growth, which is expected to provide a substantial boost to the organization’s financial standing.