January 04, (THEWILL) – The Confederation of African Football (CAF) has announced a sizable increase in the prize money for the upcoming Africa Cup of Nations (AFCON) tournament to be held in Ivory Coast. The prize for the winning team will total $7 million – a 40% raise over previous editions of the competition.
Dr Patrice Motsepe, President of CAF, stated: “CAF has made significant progress over the past two years in increasing the Prize Money of the AFCON and all its other major competitions.” The runner-up team will now receive $4 million, while the two semi-finalists will be granted $2.5 million each. Additionally, the four quarter-finalists will be given $1.3 million per team.
Motsepe expressed confidence that “a portion of the Prize Money will contribute to developing football and also benefit all the football stakeholders as well as assist our Member Associations with their administrations.”
The increase reflects CAF’s commitment to supporting the growth of the sport across the African continent by incentivising success in its flagship national team competition.
With the 2023 tournament fast approaching, fans will be eager to see the enhanced prize money in action as teams battle to lift the coveted AFCON trophy. The financial boost will be welcomed by participating Football Associations and could encourage investment in youth development and infrastructure.
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Jude Obafemi is a versatile senior Correspondent at THEWILL Newspapers, excelling in sourcing, researching, and delivering sports news stories for both print and digital publications.
