CAF Assembly: Motsepe’s resolve to tackle financial Woes and rebuild african football

CAF President Patrice Motsepe reaffirmed his commitment to restructuring Africa’s football organization at the 46th CAF General Assembly in Addis Ababa on October 22. Faced with a history of financial troubles, Motsepe highlighted the urgent need for change, describing the situation he inherited as financially “dire.”

Motsepe outlined the challenges CAF faces, from reducing longstanding losses, which have now decreased from $28.9 million to $9.2 million, to resolving a $50 million legal settlement with Lagardère Sports, a financial burden stemming from a cancelled $1 billion contract with the sports marketing firm.

“We had to stop the hemorrhaging, implement governance reforms, and enforce world-class auditing,” he said. CAF invested heavily in competitions over the past year, yet Motsepe remains determined to lead it towards sustainable growth.

Looking forward, CAF projects a net profit of $11.7 million next year, a promising shift Motsepe hopes will fortify African football’s foundation.

This new financial stability, he stressed, is essential for achieving CAF’s mission of developing football across the continent.

Despite the hurdles, Motsepe’s vision is unwavering: an African football body that is financially stable, well-governed, and recognized globally. “One day, I believe we will see an African nation lift the World Cup,” he declared, underscoring his ambition to elevate African football on the world stage.

Source : africanews.com