Café generates nearly R400m revenue growth on assembly in Abidjan

Café generates nearly R400m revenue growth on assembly in Abidjan

In the year under review, CAF posted an improved overall loss position of $15.7 million [R282.34] from the previous year.

“The club competitions (CAF Champions League and Confederation Cup) Super Cup, CAF Women’s Champions League, Futsal Program and African Schools are expected to be delivered in the 2023-2024 fiscal year with an expected budget of $110 million. [R1.98bn]dedicated to the organization and prize money for these major competitions.

“The increased financial resources to offer CAF competitions seek to increase the global popularity and prestige of major CAF tournaments.

Development expenditures increased by $19.3 million [R347.1m] to nearly $24 million [R431.6m] On account of increasing the subsidy given to member associations and zonal associations for the development of football on the continent.

“CAF is expected to continue investing in the development of football with a focus on women’s and youth competitions, developing the capabilities of referees, investing in video assistant referees at district level and strengthening governance and controls around financing of member associations and regions.”

CAF said it expects its revenues to grow further in 2022-2023 as the 2023 Africa Cup of Nations – postponed from mid-2023 due to Ivory Coast summer weather concerns to January-February next year – is expected to generate a significant amount of revenue. .

CAF expects another increase in revenues in this fiscal year – on the back of the upcoming Africa Cup of Nations in Ivory Coast 2023.

“The main tournament is scheduled to kick off in January 2024 and is expected to provide a huge boost to CAF’s coffers.”

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