The Confederation of African Football (CAF) has announced a significant increase of 40% in the prize money for the upcoming Africa Cup of Nations (AFCON) to be held in Ivory Coast.
In a statement released today, CAF revealed that the winner of the 2023 AFCON will receive a grand prize of USD 7 million, up from USD 5 million in the previous edition.
The runner-up will now pocket USD 4 million, an increase from USD 2.5 million. The two losing semi-finalists will each get USD 2.5 million while the four quarterfinalists will receive USD 1.3 million.
This prize money increment comes as part of CAF’s strategy to make African football more lucrative and competitive.
CAF President Dr Patrice Motsepe expressed confidence that a portion of the Prize Money will contribute to developing football in the contitent.
“CAF has made significant progress over the past two years in increasing the Prize Money of the AFCON and all its other major competitions,” he said
“We have increased the Prize Money of the AFCON Winner to USD 7 000 000 which is a 40% increase from the previous AFCON Prize Money.
I am confident 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 2023 AFCON is set to kick off on January 13th with host nation Ivory Coast taking on Guinea Bissau in the opening match in Abidjan.
24 teams, including defending champions Senegal, will battle it out over a month to emerge as the new kings of African football.
The increased prize money now comes as a motivation for teams to go all out to lift the prestigious trophy.