The Confederation of African Football (CAF) has announced a significant 75% increase in prize money for the 2024 African Nations Championship (CHAN), a move aimed at enhancing the financial appeal of the tournament for sponsors, broadcasters, and stakeholders. The winner of the tournament, hosted across Kenya, Tanzania, and Uganda, will now receive USD 3.5 million, up from the previous prize.
CAF also revealed a 32% increase in the total prize pool, raising it to USD 10.4 million for the entire tournament. The prize adjustments highlight CAF’s commitment to elevating the commercial value of CHAN and attracting more global attention to African football.
CAF President Dr. Patrice Motsepe emphasized the business potential of the tournament, stating, “We have significantly increased the prize money of the winner to USD 3.5 million and raised the total prize pool to USD 10.4 million. CHAN plays a crucial role in the development and growth of Africa-based football players and will contribute to the global competitiveness of African football. This tournament is integral to our strategy of investing in African football and enhancing its appeal to fans, TV viewers, sponsors, and partners worldwide.”
The 2024 CHAN tournament will kick off on February 1, 2025, with the final scheduled for February 28, 2025. With 17 countries already qualified, including powerhouses like Morocco, Senegal, and Nigeria, the competition promises to attract significant media coverage and commercial interest. Two more countries will secure spots after the final round of qualifying matches.
The increased prize money positions CHAN as a lucrative opportunity for African footballers, while also strengthening its commercial viability, offering greater returns for sponsors and broadcasters looking to tap into the growing football market in Africa.
