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Football

CAF Reports Financial Turnaround, Pledges Increased Support for African Football Development

GERALDENE HELENA ABENA OTOO
Published October 23, 2024
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The Confederation of African Football (CAF) has announced a significant financial turnaround and unveiled plans to boost support for the development of football across the continent.

In a statement released by the governing body, CAF highlighted improved revenue streams, enhanced sponsorship deals, and more efficient financial management as key factors behind the positive performance. The report signals a renewed focus on strengthening African football both at the grassroots and elite levels.

“CAF has made remarkable progress in stabilizing its finances, which allows us to invest more in the growth of the game across Africa,” the statement read. “We remain committed to supporting member associations, clubs, and national teams through development programs, competitions, and technical initiatives.”

The federation outlined several initiatives, including expanded youth and coaching programs, investment in women’s football, and increased funding for national team preparations. CAF also emphasized the importance of financial transparency and accountability in sustaining long-term growth for African football.

Analysts say the financial recovery positions CAF to enhance the competitiveness of African teams in continental and global tournaments, while fostering opportunities for talent identification and infrastructure improvement across member nations.

CAF President [Name, if known] welcomed the development, noting that the federation’s strengthened financial position is a “major milestone” that will allow African football to thrive sustainably.

With these measures, CAF aims to ensure that African football continues its upward trajectory, delivering both competitive excellence and developmental impact for the continent.

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