{"id":20691,"date":"2024-10-22T16:55:31","date_gmt":"2024-10-22T16:55:31","guid":{"rendered":"https:\/\/ultimatesportsghana.com\/?p=20691"},"modified":"2024-10-22T16:55:31","modified_gmt":"2024-10-22T16:55:31","slug":"caf-continues-its-significant-financial-turn-around-as-losses-are-reduced-by-68-and-projects-net-profit-in-the-next-financial-year","status":"publish","type":"post","link":"https:\/\/ultimatesportsghana.com\/index.php\/2024\/10\/22\/caf-continues-its-significant-financial-turn-around-as-losses-are-reduced-by-68-and-projects-net-profit-in-the-next-financial-year\/","title":{"rendered":"CAF Continues its Significant Financial turn-around as losses are reduced by 68% and Projects Net Profit in the next Financial Year"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CAF reduces deficit from USD 28.9 million to USD 9,2 million<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Records highest distribution of Financial Support to Member Associations and Zonal Unions<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As deficit is reduced and revenues soar, CAF prize monies increase by 40%<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">An additional $25.7m investment in Football Development&nbsp;&nbsp;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The Conf\u00e9d\u00e9ration Africaine de Football (\u201cCAF\u201d) released the 2022-2023 audited Financial Report and 2024-2025 budget at the 46th CAF Ordinary Assembly held in Addis Ababa, Ethiopa on Tuesday, 22 October 2022.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/ultimatesportsghana.com\/wp-content\/uploads\/2024\/10\/caf-president-zonal-meetingjpg-1024x576.webp\" alt=\"\" class=\"wp-image-20692\" srcset=\"https:\/\/ultimatesportsghana.com\/wp-content\/uploads\/2024\/10\/caf-president-zonal-meetingjpg-1024x576.webp 1024w, https:\/\/ultimatesportsghana.com\/wp-content\/uploads\/2024\/10\/caf-president-zonal-meetingjpg-300x169.webp 300w, https:\/\/ultimatesportsghana.com\/wp-content\/uploads\/2024\/10\/caf-president-zonal-meetingjpg-768x432.webp 768w, https:\/\/ultimatesportsghana.com\/wp-content\/uploads\/2024\/10\/caf-president-zonal-meetingjpg.webp 1320w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong><em>The 46th CAF Ordinary Assembly was chaired by CAF President Dr Patrice Motsepe.<\/em><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CAF achieved a significant financial turnaround in the 2022-2023 fiscal year, with a remarkable reduction in losses from USD 28.9 million to USD 9.2 million.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">A year before, CAF deficit was sitting at USD 45 million. This continued positive development is primarily attributed to the strategic reforms implemented by the CAFs management in 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">From thebudgeted revenues in 2024-2025, CAF is projecting a net profit of $11.7 million \u2013 for the first time in a a long time.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This financial health will enable CAF to deliver on its mandate of developing football in Africa.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Under the leadership of CAF President Dr Patrice Motsepe, CAF has achieved the highest revenues in CAF Competitions as media rights and sponsorship revenues continued to grow significantly.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The increased revenues have enabled CAF to spend more in Financial Support for the Member Associations and Football Development progrmme. More than ever before, more is being allocated to driving Development Programmes, Schools Football, Match Officials and TV production.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">At the 46th CAF Ordinary Assembly, CAF President Dr Patrice Motsepe confirmed the 100% increase of annual Financial Support (subventions) for Member Associations to USD 400 000 (from 200,000 in 2021)\u2013 a significant moment for Nations who have been struggling to fund football activities.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Expenditure<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The decision to allocate a significant portion of expenditure, specifically 84%, towards African Football Development, is a strategic move that underscores CAFs commitment to nurturing and growing the football ecosystem.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Prize money and Host Association Support USD 56 million: This represents the largest portion of the expenditure, showcasing a continued focus on rewarding excellence via distributions to National teams, Clubs and supporting the organizations responsible for hosting competitions.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Organizing Competitions USD 28.1 million: This allocation covered the costs associated with planning and executing football competitions, ensuring a high-quality experience for players, officials, and fans.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Football Development Programmes $32.3m: This investment directly supported CAFs 10-point promise aimed at developing football from the grassroots to professional level.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This strategic reinvestment highlights CAF&#8217;s dedication to using its financial resources to uplift African football and create a sustainable football ecosystem.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Areas of Investment<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CAF is significantly increasing its investment in football development for the 2024-2025 fiscal year. We expect an overall investment of $29.8m in the below areas:<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CAF Subvention to Member Association increased by 100% (from $200,000 per MA in 2020-2021 to $400,000 per MA in 2024-2025)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CAF Subvention to Zones increased by 50% (from $500,000 per Zone in 2020-2021 to $750,000 per Zone in 2024-2025)<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Introduction of $50,000 Allowance to Clubs eliminated in the preliminary stages of the CAF Champions League and CAF Confederations Cup.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">For further inquiries, please contact:&nbsp; communications@cafonline.com<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">CAF | Communication Department<\/p>\n","protected":false},"excerpt":{"rendered":"<p>CAF reduces deficit from USD 28.9 million to USD 9,2 million Records highest distribution of&#8230;<\/p>\n","protected":false},"author":7,"featured_media":20693,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,6],"tags":[],"class_list":["post-20691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-football","category-home","category-live-sports"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CAF Continues its Significant Financial turn-around as losses are reduced by 68% and Projects Net Profit in the next Financial Year - Ultimate Sports Ghana | All your Sports News from Ghana<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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