The Confederation of African Football has announced an increase in the prize money for the winner of the Africa Cup of Nations (AFCON).

The winner of the 2023 edition of the continental tournament will a 40% increase in prize money.

The winning team in Ivory Coast will walk home with $7 million.

The runner-up of the competition will also get $4 million. Each of the two semi-finalists will receive $2.5 million while each of the four quarterfinalists gets $1.3 million.

The President of CAF Dr Patrice 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 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 2023 Africa Cup of Nations tournament will kick off on January 13, with the final slated for February 11, 2024.