CAF unveils its 2022-2023 financial report: a return to profits for 2024

The Confederation of African Football (CAF) recently released its financial report for the 2022-2023 financial year, revealing an improvement in its finances and optimistic forecasts for the year ahead. The report highlights significant progress made through more rigorous financial strategies and targeted investments in the development of African football.

Income stabilization

The year 2022-2023 was marked by an increase in revenues from broadcasting rights, commercial partnerships and flagship competitions such as the Africa Cup of Nations (AFCON). These events have enabled CAF to better stabilise its finances after years of economic difficulties. At the same time, efforts have been made to reduce operational costs, notably by optimising internal management and revising certain commercial contracts.

Improving financial transparency has played a crucial role in this transition. Efforts to strengthen governance within the organisation, while ensuring better use of funds, have helped to redress CAF’s financial trajectory. Despite challenging global economic conditions, CAF expects to return to profit in 2024 through more sustainable management and the consolidation of media partnerships.

Profit projections for 2024

According to the report’s forecast, CAF expects to make a net profit next year. This projection is based on several initiatives aimed at diversifying revenue sources, including exploring new markets for broadcast rights and signing more lucrative sponsorship deals. CAF has also stepped up its investments in sports infrastructure across Africa, strengthening the capacity of local federations and contributing to the growth of football on the continent.

The institution also seeks to strengthen its financial solidity by increasing the quality of its loan portfolio and adopting prudent financial policies. These measures aim to protect the organization from global economic fluctuations, while ensuring long-term growth.

Persistent challenges

Despite these optimistic forecasts, CAF still faces several challenges. The organisation must not only adapt to global economic uncertainties, but also meet the growing expectations of fans and sponsors. It is also crucial to maintain a high level of transparency and governance to avoid controversies, in a context where African football aspires to greater international recognition.