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AFCON: Unveiling Africa’s top five most valuable squads

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Ahead of the 2023 Africa Cup of Nations (AFCON) which kicks off on January 13, 2024, in Ivory Coast, Transfermarkt.com has compiled a list of the top five most valuable teams heading into the tournament.

According to the compilation, the Super Eagles of Nigeria boasts of the most valuable squad.

The last financial rankings of national teams for the year 2023 done by Transfermarkt saw some African countries witness a rise in their squad’s market value.

Nigeria’s stock witnessed a massive rise in value and also in the global ranking due to the rising profile of some star players like Victor Osimhen, Alex Iwobi, Victor Boniface, and Ademola Lookman, among others.

Other African national teams have also seen their financial value rise as they boast three countries in the top 15 of the world’s most valuable squads.

The likes of Ghana, Senegal, Ivory Coast, and Morocco are also in the top five most valuable squads that will compete at the forthcoming 34th African Cup of Nations.

Here is the list as released by Transfermarkt:

Ghana

The Black Stars are ranked the fifth most valuable squad in Africa with a market value of €285m, climbing above Algeria in the latest ranking.

Senegal

Defending champions. Teranga Lions of Senegal sit on fourth place as squad with the most value on the continent with a market value of €266m.

Ivory Coast

Coming in at third is host nation Ivory Coast which is also ranked 15th globally with a market value of €340.58m, which sees them rise from their previous valuation of €315.08m.

Morocco

In second place is 2022 FIFA World Cup semi-finalists, Morocco with a valuation of €350.80m, up from the previous €326.05m valuation it recorded in the last ranking.

Nigeria

Three-time African champions, Nigeria, will be heading to the 2023 AFCON as the most valuable squad on the continent. The Super Eagles maintains top spot on the ranking as they witnessed a massive increase in market value from €451.60m to €465.90m in the latest financial report.

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Former President of Moroccan club Raja sentenced to 3 years in prison

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The former President of Moroccan top club, Raja Casablanca, Mohamed Aouzal, has been sentenced to three and a half years in prison after he was found guilty of fraud by a Casablanca Ain Sebaa Court of First Instance on Friday.

According to court documents, the case involved charges of breach of trust and issuing a bounced check in connection with his role in the insurance sector.

Other charges against Aouzal included financial misconduct, specifically breach of trust and issuing a check without sufficient funds.

The documents stated that the legal action against Aouzal stemmed from a lawsuit filed by an insurance company and was found guilty of owing the company nearly MAD 400 million (around $40 million) as the legal representative of an insurance brokerage firm.

In addition to the prison sentence, the court also imposed a fine of MAD 20 million (approximately $2 million) in favor of the plaintiff company.

Aouzal was arrested following investigations by Morocco’s National Judicial Police Brigade after which he was charged before the Public Prosecutor at the Ain Sebaa Court and was placed in custody at Oukacha Prison.

The lawsuit, according to Morocco World News, pointed to significant financial irregularities in Aouzal’s brokerage firm, alleging that it failed to meet its financial obligations and caused substantial losses for the insurance company.

“The trial began on December 10 after Aouzal’s initial court appearance. The court examined the evidence and heard extensive arguments before entering deliberations earlier this week.

“On Friday, the judge ruled in favor of the insurance company due to the significant monetary damages incurred,” the report said.

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Dumping England for Nigeria the best decision of my life— Ademola Lookman

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Current African Men’s Footballer of the Year, Ademola Lookman, has attributed his rise in the football echelon to his decision to dump the English national team, The Three Lions, to play for the Super Eagles of Nigeria.

The Atalanta striker, who was named the African Player of the Year after a sterling 2024 season where he kept putting up superb performances for both club and country, credited the success of his career to his decision to snub England and commit to Nigeria.

“I think ever since I put on the Super Eagles jersey, it’s been fruitful,” Lookman said in an interview on SportyTV.

“We’ve been able to achieve a lot as a team and we’re still going as a team. But the camaraderie is something that’s very special within the squad.

“It is an incredible achievement and an incredible moment. It is special to join a list of many great players who have achieved a lot in the game. They are legends.

“There have been many special moments this year, and I can speak about a lot of good ones. But also the tough moments, like when you don’t feel like hitting the gym, but you push through and end up doing that session—it gives you more strength. Those difficult moments have given me that extra strength,” he said.

The Atalanta forward believes that his decision to represent Nigeria has contributed to a significant personal and professional growth, allowing him to continue thriving with the national team.

Before switching allegiance to play for the Super Eagles in 2022, Lookman had represented England at youth level, including winning the U-20 World Cup in 2017 but he had a stop-start career with stints at Everton, Fulham, and Leicester City, before he was shipped to Atalanta, initially on loan, before the move was made permanent.

But the turning point in Lookman’s career came when he decided to switch allegiance to Nigeria and has never looked back as everything he touched turned to gold.

The London-born Lookman made his Super Eagles debut in March 2022 against Ghana, and he has since described this moment as a turning point in his career.

He has scored eight goals and provided four assists and was the star man at the 2023 AFCON tournament where he netted three goals and registered one assist, and was named in the tournament team.

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