CAF Will Be Debt Free By Next Year - Secretary-General

CAF Will Be Debt Free By Next Year - Secretary-General 

Sampson Adedeji 

The Secretary-general of the African soccer governing body Veron Omba-Mosengo has said the body will be free of debt by 2025, BSNSports.com.ng reports.

The football supremo made the statement during a chat with BBC Africa, he further narrated how the emergence of Patrice Motsepe as the CAF President stabilised 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.