The 2023 Africa Cup of Nations (AFCON) concluded on Sunday, February 11, 2024, in Ivory Coast, with the host nation emerging victorious. The Elephants of Ivory Coast defeated the Super Eagles of Nigeria by two goals to one to clinch the trophy on home soil.
Africa’s flagship football tournament featured 24 teams from across the continent, including African football powerhouses like Egypt, Ghana, Nigeria, Algeria and the host country Ivory Coast. At the heart of the tournament is the pride of clinching the trophy as well as the cash prize.
In 2019 when the tournament was hosted, the ultimate prize money was $4.5 million. In 2021, the prize money was increased to $5 million. According to the Confederation of African Football (CAF), the prize money increment was to demonstrate its commitment to rewarding merit and performance and enhancing the status of the competition.
This year’s tournament saw the prize money increase to 40 percent. As per Caf Online, the winner (Ivory Coast) of this year’s tournament will receive $7 million as the prize money while the runner-up get $4 million. Also, each of the two semi-finalists will receive $2.5 million and each of the four quarter-finalists will get $1.3 million.
“CAF has made significant progress over the past two years in increasing the Prize Money of the AFCON and all its other major competitions,” the President of CAF Patrice Motsepe said before the start of the tournament. “We have increased the Prize Money of the AFCON Winner to USD 7 000 000 which is a 40% increase from the previous AFCON Prize Money.”
He continued: “I am confident that a portion of the Prize Money will contribute to developing football and also benefit all the football stakeholders, as well as assist our Member Associations with their administrations.”
According to Quartz Africa, the AFCON competition lags in prize money compared to similar tournaments in other continents. Italy received over $11 million for winning the European Championships in July 2021. Also, Argentina received $6.5 million for winning the Copa America and the runner-up got $3.5 million.
AFCON, founded in 1957 and sanctioned by CAF, is the main international men’s association football competition in Africa. The most successful nation is Egypt, with seven titles in 1957, 1959, 1986, 1998, 2006, 2008 and 2010. Egypt are also the only national team to win the tournament three times in a row — 2006, 2008 and 2010.
