The FIFA President, Sepp Blatter said the world football's governing body has reserves of $1.2bln after last year's World Cup in South Africa.

Blatter told African football administrators that the financial results were better than the 2006 World Cup hosted by Germany. He said more details of its success will be published next week in FIFA's annual report.

FIFA began the World Cup year with reserves of $1.06bln.

Blatter was opening the Confederation of African Football assembly where he said the continent should be proud of organizing the World Cup and said it had helped Africa gain pride and confidence,The Associated Press reported.