Cape Town - Cricket South Africa (CSA) is expected to receive in excess of R1.6bn from the ICC over the next eight-year period.
This comes after the ICC's revised revenue model, which saw the ICC Board, by an overwhelming majority, pass the new financial model during meetings held in Dubai from April 23-27.
Based on current forecasted revenues and costs, India will get $293m (R3.9bn) across the eight-year cycle, England $143 million (R1.9bn), Zimbabwe $94m (R1.2bn) and the remaining seven Full Members (including South Africa) $132m each.
Under the revised revenue distribution model, Zimbabwe will now get $19m (R254m) more than it would have received over the eight-year period.
The ICC also agreed on a new constitution which will work towards getting more nations playing Test cricket, equal weight of votes for all board members regardless of membership status and bringing in an independent female director.
The originally proposed changes to the constitution included a clause that opened the possibility of Full Members being relegated to Associate status.
But under the revised version that will be presented to the ICC annual conference for adoption in June, the potential for reclassification of full membership was removed, with the ICC Board acknowledging the need to sustain and grow the number of members competing at the top level.
Zimbabwe has also put in a bid to host the 2018 ICC World Cup Qualifier, a cricket tournament meant to decide the final qualification for the 2019 World Cup in England.
The top two teams at the qualifier event will join the eight teams who will have already qualified for the World Cup through their ranking in the ICC ODI Championship.
The 2018 ICC World Cup Qualifier was originally scheduled to take place in Bangladesh, but this is likely to change as Bangladesh appear certain to qualify automatically for the prestigious 50-over tournament.