CAF Releases 2022-2023 Financial Report
The 46th CAF General Assembly convened on Tuesday, October 22, in Addis Ababa, with FIFA President Gianni Infantino in attendance. During the meeting, CAF released its audited financial report for 2022-2023 and the budget for 2024-2025.
CAF President Patrice Motsepe, who has led the organization since 2021, announced a significant reduction in losses, down to $9.2 million from $28.9 million. “We had to immediately stop the hemorrhaging and address the dire financial condition of CAF,” Motsepe explained. He emphasized the introduction of world-class governance, transparency, and auditing practices, alongside investments exceeding $50 million in competitions over the past year.
Motsepe also addressed the resolution of a long-standing legal dispute with Lagardere Sports, following CAF’s cancellation of a $1 billion contract with the agency.
Looking ahead, CAF is projecting a net profit of $11.7 million for the upcoming financial year, marking a turning point for the organization. This improved financial position will enhance CAF’s capacity to develop football across Africa.
Infantino praised the advancements made by African nations in global football and reiterated CAF’s and FIFA’s commitment to combating racism in the sport.
