The Confederation of African Football (CAF) has announced a major financial turnaround, reducing its deficit from $28.9 million to $9.2 million for the 2022-2023 fiscal year. The progress was revealed during CAF’s 46th Ordinary Assembly chaired by President Dr. Patrice Motsepe in Addis Ababa, Ethiopia, marks a substantial improvement from the previous year’s $45 million deficit.

This positive shift is attributed to strategic reforms initiated in 2021, aimed at bolstering the organization’s financial stability. CAF projects a net profit of $11.7 million for the 2024-2025 fiscal year, marking the first anticipated surplus in years. Increased revenue from media rights and sponsorships has played a key role, enabling the organization to double annual subventions to member associations from $200,000 in 2021 to $400,000 by 2024-2025.

CAF has committed 84% of its expenditures to football development, focusing on prize money, competition organization, and football programs, which is expected to further drive growth across African football.