Togo officials have announced the payment of their 2013 Africa Cup of Nations participation bonus from Caf, to be used for the development of local football
Caf has paid to Togo Football Federation the sum of 300 million francs (€465,000) as prize money for its team’s participation in the 2013 Africa Cup of Nations.
Officials said the funds will be invested in local projects meant to develop the country’s football.
The money was paid to Fifa while global auditors, KPMG, will be responsible for the supervision of spending, according to the FA. Fifa and Caf have warned local officials of funds mismanagement in the past.
Part of the funds will be used to finance the Division One league, the sports ministry confirmed in Lome on Thursday.
Togo were knocked out of South Africa 2013 by eventual finalists Burkina Faso in the quarterfinals.