Mr Afriyie, a former GFA Vice President, shockingly announced his decision as delegates were casting their votes for the third time.
After two rounds of voting, no candidate polled 61 votes representing 50+1% required for an outright victory.
In the first round, Kurt Okraku received 44 votes in the first round, George Afriyie 40, Nana Yaw Amponsah 27 and Fred Pappoe had six.
The other two candidates Amanda Clinton and George Ankomah Mensah had no vote.
The second-round contest saw three candidates, Kurt Okraku, George Afriyie, and Nana Yaw Amponsah as Fred Pappoe withdrew and Amanda Clinton and George Ankomah were knocked out because of their least votes in the first round.
Kurt Okraku won the second round with 59 votes, 16 more than George Afriyie. Nana Yaw Amponsah finished with the least votes here as he earned 16.
Thus a third-round was required and it was going to be a straight fight between Kurt Okraku and George Afriyie as Nana Yaw Amponsah dropped out.
However, with the voting underway, George Afriyie begged the attention of the gathering and announced his decision to concede defeat.
George Afriyie conceding defeat
He said; “In the interest of football, I concede defeat and congratulate my brother [Kurt ES Okraku].”
There were wild celebrations from the camp of Kurt Okraku, however, Normalisation Committee Kofi Amoah, cut short the celebrations when announced that the process was still not done.
George Afriyie congratulates Kurt Okraku
He said delegates had to vote to endorse Kurt Okraku’s victory.
Kurt Okraku received 93 votes and was declared as new GFA President.
He has succeeded Kwesi Nyantakyi as president of GFA. Nyantakyi, who had led GFA since 2005, stood down last year and was later handed a life-time ban by FIFA for breaching ethics guidelines.
The Dreams FC Executive Chairman becomes the 24th President in GFA’s 62-year history.