The new prize, which totals $16.4 million, represents a 64 percent increase on the previous tournament in Equatorial Guinea two years ago.
A breakdown of the prize money according to CAF sees the winners take home a mouthwatering $4 million, while the Runners-up gets $2 million.
The Semi-finalists receives $1.5 million each, the Quarter-finalists $800,000 and the Third in groups and Fourth in groups goes home with $575,000 and $475,000 respectively.
The 31st edition of the biennial men's football championship in Africa, known as the Total Africa Cup of Nations is scheduled to commence on Saturday, 14 January, 2017 in Gabon. The opening game of the competition is Burkina Faso and Cameroun at the Stade de l'Amitié, Libreville.