The Confederation of African Football (CAF), has increased prize money for the winner of the 2023 Africa Cup of Nations (AFCON) in Cote d’Ivoire by 40 per cent.

On its official website on Thursday, CAF said the winner of the TotalEnergies AFCON will receive $7 million.

Daily Trust reports that the 2023 AFCON will run from January 13 to February 11, 2024, with 24 countries participating.

According to the organization, the runner-up will get $4 million while each of the two semi-finalists will receive $2.5 million and each of the four quarter-finalists will get $1.3 million.

Patrice Motsepe, CAF President, while speaking on the development, said the body had over the past two years increased the prize money of the AFCON.

Motsepe said: “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 seven million dollars which is a 40 per cent increase from the previous 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.”