The annual CAF General Assembly took place on October 22 in Addis Ababa, attended by key football leaders, including FIFA President Gianni Infantino. During the event, CAF presented its 2022-2023 audited financial report and the 2024-2025 budget.
CAF President Patrice Motsepe, who took office in 2021, celebrated the organization’s significant financial recovery, reducing losses from $28.9 million to $9.2 million. Motsepe emphasized the need for immediate reforms, including world-class governance, ethics, transparency, and auditing practices. CAF spent over $50 million on competitions last year, with an additional $50 million used to settle an old legal dispute with Lagardere Sports, stemming from a US$1 billion contract cancellation years ago.
Looking ahead, CAF is projected to make a net profit of $11.7 million, its first in years. This improved financial health will empower CAF to fulfill its mission of developing football across Africa.
Motsepe expressed optimism that one day an African nation would win the World Cup, despite current challenges in gaining global respect. Meanwhile, Infantino highlighted African football’s progress and reaffirmed FIFA and CAF’s joint efforts to combat racism in the sport.