September 2023
The Money Matters: A Report on AFCON 2023
Our report analyzes the financial, economic, and sporting aspects of the 2023 African Cup of Nations (AFCON) hosted by Côte d'Ivoire. Beyond football, the tournament is presented as a major economic and infrastructural milestone for the host nation and a reflection of the growing commercial importance of African football.
Côte d'Ivoire hosted the tournament after investing more than $4.5 billion in infrastructure, including stadiums, transport networks, and accommodation facilities across five host cities. The government aimed to attract approximately two million visitors, using the event to enhance tourism, boost investor confidence, and reinforce the country's reputation as a stable and growing economic hub in West Africa. The report notes that the country's GDP has increased significantly over the past decade, rising from under $43 billion in 2013 to nearly $70 billion, highlighting its economic recovery following years of political instability.
From a sporting and financial perspective, the total prize pool for AFCON 2023 was $32 million, with the winning team receiving $7 million, representing a 40% increase from previous tournaments. The runner-up earned $4 million, while semifinalists and quarterfinalists received $2.5 million and $1.3 million respectively. Although AFCON prize money remains lower than tournaments such as the FIFA World Cup and UEFA European Championship, the increases reflect the growing commercial value of African football.
The report also highlights the financial landscape of teams, players, and coaches in the tournament. The most valuable squads included Nigeria, Morocco, Côte d'Ivoire, Senegal, and Ghana. Among players, the highest market values were attributed to Victor Osimhen (€110 million), Mohamed Salah (€65 million), Achraf Hakimi (€65 million), Mohammed Kudus (€45 million), and Edmond Tapsoba (€40 million). Additionally, the highest-paid coaches included Djamel Belmadi of Algeria (€208,000 per month) and Rui Vitória of Egypt (€200,000 per month).
The tournament also produced several surprising results. Highly ranked teams such as Morocco, Egypt, Ghana, and Algeria were eliminated earlier than expected, while underdog teams like Namibia and Mauritania made historic progress. These outcomes demonstrated the increasing competitiveness of African football.
Overall, the report concludes that AFCON 2023 was not only a major sporting event but also a catalyst for economic development, infrastructure investment, and global visibility for Côte d'Ivoire and African football more broadly.
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