( CNN ) -- Africa is ready to host the World Athletics Championships for the first time , the sport 's president Lamine Diack told CNN . South Africa became the first nation from the continent to stage football 's World Cup last year , while Cape Town finished third in the bidding for the 2004 Olympic Games . The nine-day athletics showpiece lays claim to being the third biggest sporting event on the planet behind those two competitions , but requires significantly less investment in infrastructure for the host nation . `` I think you could have a good bid from Africa in 2019 , 2021 , '' said IAAF chief Diack , who is from Senegal . `` I think that there is a country and an African city that can organize it . `` But you must plan the development of your city because in order to have all this investment , you need to have the facilities . '' While a successful Olympic bid , such as London 2012 , requires a large stadium for the opening and closing ceremonies alone , a world championships can be run on a smaller scale . `` London had Wembley . It 's probably easy to do at Wembley and not to build a new stadium , but they wanted to develop this area of London . They can do that , '' Diack said . `` I think if you have a vision of development in your city , athletics can do that , the Olympics can be the way . `` The world championships are easier . You need a good stadium , good facilities -- they have these in many African countries , but you need the willingness of the government to say , ' I 'm going to put in $ 50 million . ' `` London has also won the right to host the 2017 world championships , beating a big-money bid from Qatar which -- on top of the $ 8 million prize fund -- offered a reported $ 33 million in sponsorships of the IAAF 's competitions , awards dinners and development programs . The UK capital made a late move by matching the prize purse , but Diack said concerns over the legacy of its new Olympic stadium were forefront in the decision process . `` I think they picked London because , as you know , we had a very big fight to have this stadium stay in London , '' the 78-year-old said . `` It 's a pity that for the Olympics , we build a stadium with 100,000 seats for an opening and closing ceremony and for athletics and , at the end , say , 'We 'll destroy it . ' And certainly , I feel that Britain is a very great nation of athletics . '' The bidding process for football 's 2018 and 2022 World Cups , won by Russia and Qatar , came under great scrutiny due to allegations of corruption against top officials at ruling body FIFA . Diack is also facing an International Olympic Committee inquiry over claims that he received illegal payments from now defunct Swiss company ISL , which had an exclusive marketing contract with the IAAF for the world championships . `` I think they discovered that I received money in 1993 . In 1993 , something very difficult happened to me : my house was burned ( down ) . They burned my house with all of my family inside , '' said Diack , who has been IAAF president since 1999 and was this year re-elected until 2015 . `` Fortunately , no-one died , but I lost my house and I had no insurance , so I had to find a way to rent a house , find a way to build up my own house , buy something else . So many friends knew this and they said , 'We 'll send my support . ' `` I received this . When they asked me , I started by saying , 'This is what happened . ' I did n't hear again from the ethical commission . '' Diack , a former athlete who held the French/West African long jump record from 1957-60 and is now an IOC member , said he is confident he will not be found guilty of wrongdoing when the IOC considers the case in December . `` Absolutely . There 's no problem , '' he said . `` And , to be clear , when I became president , the first thing that I decided is that ISL used to be our marketing company for the television rights in Europe , getting 50 % of the money . I decided that we did n't need ISL , I have to make a direct contract with someone else , and so I made a contract with someone else . `` If the ethical commission says they want to meet me , I will go to them . If the executive board says , 'We want to meet , ' I will go to them and I will explain myself , but I do n't find myself guilty of any wrongdoing . ''
IAAF president backs Africa to host athletics ' major event in near future . Lamine Diack tells CNN that world championships are more affordable . Senegalese official says Senegal 's bid was important in the 2017 Olympics . He confident he will not be found guilty of accepting illegal payments .