The Confederation of African Football (CAF) is at the center of a financial scandal, with an external audit by EY uncovering over $16 million in unaccounted expenses for the fiscal year ending June 30, 2023. The discovery has amplified total losses to $25.43 million, exposing deep-rooted governance issues within the organization. Among the flagged concerns are $12 million in unallocated technical costs, prompting serious questions about CAF’s financial oversight.
Tensions have risen internally, with the audit and compliance committee accusing General Secretary Véron Mosengo-Omba of interference. Mosengo-Omba, already under investigation for governance breaches, denies the allegations but has faced criticism for allegedly presenting contested documents to auditors.
This financial scandal hits CAF at a critical juncture, as it gears up for its presidential election. Incumbent president Patrice Motsepe is expected to face competition, including from seasoned Egyptian football administrator Hany Abo Rida. The revelations not only tarnish CAF’s reputation but also cast doubt on the organization’s ability to manage its resources effectively.
CAF Faces $16 Million in Missing Expenses, Sparking Governance Crisis
Written by Emmanuel Atanga
I am an ardent sports fan who is so passionate about the world of sports.
I love to share my passion for sports with fellow minded people like you.
Please join me on this sports journey as i delve into all the action that gives us so much joy.
0 Comments