The Confederation of African Football (CAF) has increased the prize money for the 2023 Arica Cup of Nations, AFCON.

The winner of the biennial competition will go home with $7 million.

The runners-up will now get $4 million, while each of the two semi-finalists will receive $2,500,000

Each of the four quarter-finalists will get $1,300,000.

“CAF has made significant progress over the past two years in increasing the Prize Money of the AFCON and all its other major competitions,” President of Africa’s soccer governing body, Patrice Motsepe, told CAFonline.

“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.”

The 34th edition of the AFCON finals will start next week Saturday with the opening game between hosts Cote d’Ivoire and Guinea-Bissau.

The competition will end on Sunday, February 11.