Patrice Motsepe has said he is looking to secure a second term as Confederation of African Football president in order to continue the “good progress” made since he took charge in 2021.

The South African walked into a crisis-hit organisation after his predecessor, Ahmad of Madagascar, became the first Caf president to be banned by Fifa for ethics abuses, including misappropriation of funds.

Under the stewardship of Motsepe, African football’s governing body – whose presidential elections are scheduled for March 2025 – appears to be moving into calmer financial waters after a turbulent period under the former regime.

“The key issue is for us to build on the legacy,” said Motsepe, a mining magnate whose wealth is estimated at $3bn (£2.3bn) by Forbes, external.

Motsepe’s decision to seek re-election was announced on Friday, just hours after Caf’s general assembly had taken place in the Ethiopian capital Addis Ababa.

A press release, external stated that he had “finally” agreed to stand “following requests from numerous [football federation] presidents, zonal union presidents and key stakeholders”.

“I was partly taken aback by the huge insistence about continuity,” the 62-year-old, also the owner of South African club Mamelodi Sundowns, told BBC Sport Africa.

“There was some concern that there may not be the same degree of emphasis on governance, on ethics and the sort of fundamental changes that we’ve had to introduce.

“There’s a lot of good, good progress that has been made, but there is still a lot of work to be done.”

Motsepe is the first to declare as a candidate, with some reports suggesting that Egypt’s Hany Abo Rida and former Cameroon striker Samuel Eto’o, a four-time African Footballer of the Year, could also make bids.

Senegalese federation president Augustin Senghor is seen by some as a possible future leader, but he has welcomed Motsepe’s declaration – agreeing that his administration, of which Senghor is a vice-president, took charge when “Caf was in crisis”.

“He has managed to put Caf into a new era,” Senghor told BBC Sport Africa.

“Africa Cups of Nations are more and more organised, we have profitability and people are giving more respect to Caf.

“We need stability and continuity to improve. When a leadership is working well, why change it?”

Despite the backing he has received, Motsepe said he would welcome challengers.

“I am confident there are many, many presidents that could take over from me right now, let alone in future,” he said.

Motsepe’s team say they started their tenure on the back foot financially, inheriting a deficit of between $40-50m (£30.8-38.5m).

The administration was further burdened by having to pay a $50m (£38.5m) settlement fee to French media company Lagardere after Ahmad’s regime cancelled the biggest broadcast deal in African football history in 2019.

Last week, Caf announced its deficit had fallen to just under $10m (£7.7m) in the 2022-23 financial year – a period when the African football body paid the first of two $25m (£19.25m) tranches to Lagardere.

Even though the organisation’s 2023-24 financial year, which runs from July to June, included the second payment of $25m, it is expected to further improve Caf’s accounts.

The Cairo-based organisation made a $72m (£55.5m) profit from this year’s Africa Cup of Nations (Afcon) – a sum 18 times bigger than that generated by the previous edition in 2022.

Much of the growth stems from improved relations with sponsors and broadcasters.

“The most important thing is to give confidence to the sponsors, partners and people that put money into football,” said Motsepe, adding that investors need to feel that “they benefit from being associated with African football – and that [African football] has got ethics”.

The South African also hinted that Caf’s commercial partners influenced his decision to run for a second term.

“I said to the sponsors: ‘We’ve got a team, the team will take over’,” he explained.

“Many of them were very forthright, as were the member association and zonal union presidents, to say they remember the past where there was uncertainty and insecurity.”

The theme of improved ethics was one that Motsepe – who refuses to draw a salary from Caf, diverting his wages instead to women’s football, staff bonuses and special emergency projects – was keen to stress.

This is despite the fact that Caf’s general secretary Veron Mosengo-Omba is under investigation for misconduct. The Swiss-Congolese denies any wrongdoing.

In the meantime, Motsepe says he is trying to clean up African football, not only to improve the game on the continent but also as an example for other non-sporting organisations.

“The zero tolerance of corruption and bribery in football will transcend to zero tolerance of bribery and corruption in politics, in business and on the African continent,” he suggested.

“We had to make people – all of the member associations – realise that governance, ethics, compliance with the Fifa and Caf statutes and regulations are in the benefit of everybody, as are good referees and match commissioners.”

Last week, Motsepe’s Caf doubled the annual grant handed out to member associations to $400,000 (£308,000), while also introducing a new $50,000 (£38,500) payment to clubs that exit continental club competitions in the preliminary rounds.

Motsepe was speaking in Hurghada, Egypt, after attending Saturday’s Beach Soccer Africa Cup of Nations final between tournament debutants Mauritania and Senegal, who avenged a shock opening defeat to their neighbours to win the title for a fifth time in a row.

Both finalists have qualified for next year’s Beach Soccer World Cup in the Seychelles.

The tournament will feature three African sides for the first time as the host nation, who qualify automatically, will become the first country from the continent to stage the event.

“Egypt hosted the nations that were here in a manner as good as anywhere in the world, and African beach soccer is becoming as good as the best in the world,” Motsepe said.

“We will be hosting the world next year in the Seychelles and the nations representing us will make us very, very proud.”