CAF President Patrice Motsepe during a past event/CAFThe Confédération Africaine de Football (CAF) has announced an increase in the prize money for this year’s Total African Nations Championship (CHAN) to $3.5million (Sh1.3 billion).
This marks a 32 per cent rise from the previous tournament staged in Algeria.
The winner of the championship to be co-hosted by Kenya, Tanzania and Uganda, according to the governing body, will now walk away with a record $3.5 million (Sh455 million) which is a 75 per cent increase.
“We are excited about the upcoming Total Energies CAF African Nations Championship (CHAN) Kenya, Tanzania and Uganda 2024 and have significantly increased the Prize Money of the Winner to USD 3.5 million, which is an increase of 75 percent,” said CAF President Patrice Motsepe.
During the last competition, the total prize money was Sh982 million, where the winner bagged Sh248 million while the first runners up went home with Sh99.5 million.
The third and fourth-placed teams each parted with Sh62.2 million while the qquarterfinallosers each got Sh49.7 million.
Teams that finish second in the groups of three teams are also rewarded, as well as those that finish third in groups of four teams.
CAF has not revealed how this year’s prize money will be shared among the other teams and including those that makes it to the quarterfinals.
Some of the factors that influence prize money increases include increased commercial value of the tournament and the need to enhance competition appeal and foster football development across Africa.
Hosting preparations for future bigger tournaments like the Africa Cup of Nations (AfCON) can also lead to increased financial stakes in preparatory events like CHAN according to CAF.
CHAN is a biennial football tournament contested by 16 qualifying African national teams composed exclusively of players who play in their countries' national leagues.
Kenya, Tanzania, Uganda, Morocco, Guinea, Senegal, Mauritania, Niger, Burkina Faso, Nigeria, Central African Republic, Democratic Republic of Congo, Congo, Sudan, Zambia, Angola and Madagascar have already qualified.
The draw for the tournament set to start February 1-28 will be held on January 15 at KICC.
