The Confederation of African Football (CAF) has announced a 40% increase in the Prize Money for the Africa Cup of Nations in Côte d’Ivoire, later this month.

According to CAF, the winners would receive $7 million, while the runners-up would get $4 million.

Each of the two semi-finalists will receive $2.5 million, and each of the four quarter-finalists will cart home $1.3 million.

The President of CAF Dr Patrice Motsepe said the increase in the prize money would contribute to football development across the continent.

“CAF has made significant progress over the past two years in increasing the Prize Money of the AFCON and all its other major competitions. 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. 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.”