CAF to be debt-free by 2025, says Secretary-General
The Secretary-General of the African football governing body, Veron Omba-Mosengo, announced that the organization will be debt-free by 2025. In an interview with BBC Africa, he explained how the leadership of Patrice Motsepe as CAF President has brought stability to the organization. “CAF’s debt level was around USD 40 million, more than half of this […]
The Secretary-General of the African football governing body, Veron Omba-Mosengo, announced that the organization will be debt-free by 2025. In an interview with BBC Africa, he explained how the leadership of Patrice Motsepe as CAF President has brought stability to the organization.
“CAF’s debt level was around USD 40 million, more than half of this money has been cleared since Motsepe came in, and it is set to drop further when CAF’s financial accounts are presented later this year.
“I believe we will present a deficit figure at the CAF conference of less than USD 12 million. For the next financial year, the ‘debt’ will be zero, which means the organization can be debt-free in less than 12 months.
“The arrival of Motsepe and his CEO was for me a gift to African football. In 2021, CAF was a ‘toxic’ company, no one trusted this body, and when Motsepe came, he put the principle of good governance and integrity at all levels of the organization, and this brought confidence to our partners.
“During the AFCON in Cameroon, we made profits ranging between USD 4 — 5 million dollars, and in Ivory Coast, the profits amounted to more than USD 75 million, which shows that we are going in a good direction. As for Morocco, I think the increase in profits will be 50 percent”, he concluded.