Confederation of African Football (CAF) is on track to eliminate its debt entirely by next year, according to Secretary-General Veron Mosengo-Omba.
The organization’s financial health has dramatically improved since Patrice Motsepe assumed the presidency in 2021, replacing a “toxic” leadership.
When Motsepe and Mosengo-Omba took over, CAF was burdened with approximately $40 million in debt. Through improved governance and financial management, this figure has been significantly reduced and is expected to drop below $12 million by the end of the current fiscal year.
“I think we will present a [deficit] figure to the Caf congress of less than $12m (£9.3m),” Mosengo-Omba told BBC Sport Africa.
“For the next fiscal year, [the debt] will be zero.”
Mosengo-Omba credits Motsepe for the turnaround, stating that the South African billionaire brought “good governance and integrity” to the organization, restoring trust among partners.
The number of sponsors for the Africa Cup of Nations (AFCON) has increased, and the tournament’s global viewership has doubled.
Despite financial success, CAF is facing challenges related to corruption allegations against some executive committee members. While Malian federation president Mamatou Toure and Tunisian counterpart Wadie Jary are both in prison on corruption charges, they remain CAF executive committee members.
Mosengo-Omba defended the organization’s stance, stating that CAF can only take action once the legal processes in their respective countries conclude.
CAF has also ruled out changing the frequency of the AFCON tournament, emphasizing its importance as a key revenue generator for the organization.
