From 2017, the winner of the AFCON title in Gabon will take home $4 million, a significant increase on the previous $1.5m prize money.

CAF has announced that all competitions under the auspices of the organisation are set to receive a massive prize-money boost, starting with next year's Africa Cup of Nations in Gabon.

The confederation has decided to increase the money on offer for AFCON winners from $1.5 million [approx. R20 million*] to $4 million [approx. R53 million] which is a 166% increment.

The increase in prize money would not only be for the winners but for all teams involved in the Afcon. Runners up will now receive $2 million, a 100 percent increase; semi-finalists bag $1.5m, up from $750,000, and quarter-finalists pocket $800,000, $200,000 more than in the past.

There’s greater incentive to participate in the competition now with third-place finishers in the group stage set to get $575,000, up from $500,000, while bottom-placed sides would now receive $475,000, an increase from $400,000.

Other CAF organised competition such as the CAF Champions League, CAF Confederation Cup and the African Nations Championship (CHAN) have seen a significant increase in monies involved.

The winner of the Champions League previously walked away with $1.5-million in prize money but an increase of $1-million will now see them land $2.5-million (R33-million).

The Caf Confederations Cup has seen an increase of almost 90% with the winners of the tournament bagging a total of $1.25-million instead of $660 000 they previously received.