The TotalEnergies Africa Cup of Nations hosts Ivory Coast have confirmed the huge amount of money they have spent on the tournament.
There is no doubt that hosting a major international sporting event is an expensive undertaking, as spending is allocated to roads, stadiums, hospitals, and other infrastructure relating to the competition.
Cote d'Ivoire have constructed four new stadiums and renovated two other venues across five cities, namely Abidjan, Bouake, Korhogo, San Pedro, and the capital city Yamoussoukro.
According to BBC Sport Africa, the Ivorian government have confirmed that they have invested at least $1 billion (R19 billion) on hosting the grand showpiece, which is set to run from Saturday 13 January until 11 February 2024.
In preparation for the AFCON, the country is said to have taken out a loan of $3.5 billion (R64 billion) from the International Monetary Fund (IMF) last April.
Ivorian economics professor Prao Yao Seraphin told BBC Sports Africa: "Ivory Coast is a poor country.
"As a result, President [Alassane} Ouattara has had to take out loans to finance this project, so we have to ensure the loans actually benefit Ivory Coast. The country will have to maintain the infrastructure.
"If we're not careful and don't think about creating events to boost revenues from our stadiums, I fear the country of the elephant will produce white elephants."
Football legend Didier Drogba recently expressed his pride in his homeland for staging such a huge event.
The former Chelsea striker, who has unfortunately never won AFCON as a player, told CAFOnline "It brings a sense of pride for me. The last time was in 1984.
"The fact of having worn the jersey of the national team and now seeing the tournament hosted on home soil is exceptional. We are very happy to welcome all of Africa. It is going to be a party.
"We have a very beautiful country. A hospitable nation and we know that the competition will go well. We are ready to welcome the world. It's a privilege to receive so many guests in Cote d'Ivoire," he concluded.
You must be SIGNED IN to read and post comments.
