Recent revelations from the Confederation of African Football (CAF) have raised significant concerns about the organization’s financial management, with an audit revealing over $16 million in expenses that were not accounted for in its official reports. This oversight suggests that CAF should have recorded losses exceeding $25 million for the fiscal year ending June 30, 2023.
A letter shared with CAF’s executive committee last Saturday, which was reviewed by the Guardian, indicates that an investigation by external auditors EY uncovered these discrepancies. Among the unrecognized expenses is nearly $12 million related to “technical costs” that were not allocated to clubs, federations, or host countries. The remaining amount consists of various unrecorded expenses and provisions related to debt balances.
The audit and compliance committee's findings suggest that the previously reported loss of $9.25 million, cited by CAF’s General Secretary Véron Mosengo-Omba in July, was misleading. He had used this figure to demonstrate a reduction in CAF’s overall debt, which he inherited at approximately £30 million in March 2021. Mosengo-Omba had confidently claimed that the organization would achieve a zero deficit in the upcoming fiscal year.
Requests for comments from both CAF and Mosengo-Omba went unanswered, highlighting the growing tension surrounding the organization’s governance.
Adding to the scrutiny, an ongoing investigation has been launched against Mosengo-Omba and his team. The head of governance, risk, and compliance (GRC) at CAF has accused them of obstructing her department's ability to carry out its duties. Serious allegations have surfaced, including breaches of internal governance and auditing protocols.
The audit committee previously expressed concerns about “unauthorized interference” from Mosengo-Omba, who appointed the external auditor. In a recent letter, he defended his actions, stating that CAF's statutes did not require him to consult with the GRC before hiring a consultant. Mosengo-Omba also downplayed the auditor's findings, arguing that the ongoing investigation made it inappropriate to discuss certain matters with the GRC, as it could be perceived as interference.
In response, the audit and compliance committee countered that it was equally inappropriate for the secretariat to present documents under investigation to the external consultant, suggesting that this could compromise the integrity of the ongoing investigation.
Additionally, in a letter to national associations, Mosengo-Omba confirmed that CAF would extend the age limit for executive committee candidates by five years at the upcoming general assembly. He has also set a deadline of November 12 for candidates wishing to contest the presidential elections next year. Current president Patrice Motsepe is anticipated to face competition, notably from Hany Abo Rida, a 71-year-old FIFA council member from Egypt. The elections are expected to take place in March.
As CAF navigates these financial and governance challenges, the spotlight remains on its ability to restore transparency and confidence among its member associations and stakeholders.
blogpay
Total Comments: 0