The Confederation of African Football (CAF) has announced an increase in prize money for the African Cup of Nations (AFCON) by 40%.
Notably, the winner of the 2024 edition, which will be played in Ivory Coast in January and February, will receive $7,000,000 ($7M), equivalent to Ksh 1.1 Billion.
Whereas the runner-up will receive US $4M, and the other two semi-finalists will get US $2.5M. The other four quarter-finalists will receive US $1.3M.
Reportedly, the President of CAF – Patrice Motsepe, explained the reason for the increase in prize money.
He added that CAF has made significant progress over the past two years and increased the prize money for the AFCON and all its other major competitions.
“We have increased the prize money of the AFCON winner to US $7M, which is a 40% increase from the previous AFCON prize money,” said Patrice Motsepe
He stated that he is confident that a portion of the money will contribute to developing football.
He also mentioned that the decision will benefit all the football stakeholders, as well as assist the member associations with their administrations.
Recently, the Algerian legend Rabah Madjer has explained why the match of the 2024 edition will be a tough competition.
Madjer stated that predicting standout teams is a challenging task that has given the diverse pool of formidable contenders.
Additionally, he said, “Some teams will obviously be aiming to go far in the continental competition, while others have entered the competition with the sole aim of clinching the coveted title.”
As per the popularity and considering the support of the fans, naming a specific team as a favourite one is very challenging.
Especially the giant ones which are also the hosting nations such as:
- Cote d’Ivoire
- Algeria
- Morocco
- Senegal
- Nigeria
The above-mentioned teams are all that are participating in the finals,” said the winner of the 1987 African Footballer of the Year award, Rabah Madjer.