Its current deal with CAF has been running since 2008 and gives the company exclusive marketing rights to all CAF's major competitions, including the African Nations Cup and the African Champions League.
"We have appreciated and are very satisfied with Sportfive's performance over the years. We are excited to expand this agreement for 12 additional years and to jointly continue to cooperate in the future to promote our sport," said CAF president Issa Hayatou in a statement.
Under the current deal, CAF will earn a minimum of almost $140 million from Sportfive from television and marketing revenue, according to their financial statements.
No figures were given, however, for the new package.
"We strongly believe that the African continent is a source of significant growth for our business activities in the coming years and this partnership renewal with CAF is a perfect example of this vision," added Arnaud Lagardere.