Tweet
<TABLE cellSpacing=0 cellPadding=0 width=629 border=0><TBODY><TR><TD colSpan=3><DIV class=mxb><DIV class=sh>Prize offered to Africa's leaders </DIV></DIV></TD></TR><TR><TD vAlign=top width=416><TABLE cellSpacing=0 cellPadding=0 width=203 align=right border=0><TBODY><TR><TD><DIV>
<DIV class=cap>Mo Ibrahim wants to combat corruption in Africa</DIV></DIV></TD></TR></TBODY></TABLE>A $5m prize for Africa's most effective head of state is being launched by one of the continent's top businessmen.
UK-based mobile phone entrepreneur Mo Ibrahim - who was born in Egypt - is behind the plan to rate governance in 53 African countries each year.
The contest, launched in London, will award winning leaders $5m (£2.7m) over 10 years when they leave office, plus $200,000 (£107,000) a year for life.
"We need to remove corruption and improve governance," Mr Ibrahim said.
'No life after office'
Then the continent would not need any aid, said Mr Ibrahim, who sold Cel Tel, his pan-African mobile phone company, to MTC in Kuwait for $3.4bn (£1.8bn) last year.
<TABLE cellSpacing=0 cellPadding=0 width=208 align=right border=0><TBODY><TR><TD width=5>
</TD><TD class=sibtbg><DIV class=sih>HAVE YOUR SAY </DIV><DIV><DIV class=mva>
The intention is good but I do not think it will promote good governance 
<BR clear=all></DIV></DIV><DIV class=mva><DIV>Wanjiku Kagira-Kargbo</DIV></DIV><DIV class=o>
</DIV><DIV class=miiib><DIV class=arr>Send us your comments </DIV></DIV></TD></TR></TBODY></TABLE>
"The day we do not need any aid will be the most wonderful day in my life."
The Mo Ibrahim Prize for Achievement in African Leadership is being launched on Thursday.
The award will go to African heads of state who deliver security, health, education and economic development to their constituents.
In an interview with the Financial Times newspaper, Mr Ibrahim, 60, said leaders had no life after office.
"Suddenly all the mansions, cars, food, wine is withdrawn. Some find it difficult to rent a house in the capital. That incites corruption; it incites people to cling to power.
"The prize will offer essentially good people, who may be wavering, the chance to opt for the good life after office," said Mr Ibrahim.
Support
BBC Africa analyst Martin Plaut said it would be the world's richest prize - exceeding the $1.3m (£700,000) awarded by the Nobel Peace Prize.
<TABLE cellSpacing=0 cellPadding=0 width=208 align=right border=0><TBODY><TR><TD width=5></TD><TD class=sibtbg><DIV><DIV class=mva> The people who are doing badly and are killing their own people or stealing state resources are going to carry on doing that <BR clear=all></DIV></DIV><DIV class=mva><DIV>Patrick Smith
Africa Confidential</DIV></DIV></TD></TR></TBODY></TABLE>
It will be available only to a president who democratically transfers power to his successor.
H
<DIV class=cap>Mo Ibrahim wants to combat corruption in Africa</DIV></DIV></TD></TR></TBODY></TABLE>A $5m prize for Africa's most effective head of state is being launched by one of the continent's top businessmen. UK-based mobile phone entrepreneur Mo Ibrahim - who was born in Egypt - is behind the plan to rate governance in 53 African countries each year.
The contest, launched in London, will award winning leaders $5m (£2.7m) over 10 years when they leave office, plus $200,000 (£107,000) a year for life.
"We need to remove corruption and improve governance," Mr Ibrahim said.
'No life after office'
Then the continent would not need any aid, said Mr Ibrahim, who sold Cel Tel, his pan-African mobile phone company, to MTC in Kuwait for $3.4bn (£1.8bn) last year.
<TABLE cellSpacing=0 cellPadding=0 width=208 align=right border=0><TBODY><TR><TD width=5>
</TD><TD class=sibtbg><DIV class=sih>HAVE YOUR SAY </DIV><DIV><DIV class=mva> The intention is good but I do not think it will promote good governance <BR clear=all></DIV></DIV><DIV class=mva><DIV>Wanjiku Kagira-Kargbo</DIV></DIV><DIV class=o></DIV><DIV class=miiib><DIV class=arr>Send us your comments </DIV></DIV></TD></TR></TBODY></TABLE>
"The day we do not need any aid will be the most wonderful day in my life."
The Mo Ibrahim Prize for Achievement in African Leadership is being launched on Thursday.
The award will go to African heads of state who deliver security, health, education and economic development to their constituents.
In an interview with the Financial Times newspaper, Mr Ibrahim, 60, said leaders had no life after office.
"Suddenly all the mansions, cars, food, wine is withdrawn. Some find it difficult to rent a house in the capital. That incites corruption; it incites people to cling to power.
"The prize will offer essentially good people, who may be wavering, the chance to opt for the good life after office," said Mr Ibrahim.
Support
BBC Africa analyst Martin Plaut said it would be the world's richest prize - exceeding the $1.3m (£700,000) awarded by the Nobel Peace Prize.
<TABLE cellSpacing=0 cellPadding=0 width=208 align=right border=0><TBODY><TR><TD width=5>
</TD><TD class=sibtbg><DIV><DIV class=mva> The people who are doing badly and are killing their own people or stealing state resources are going to carry on doing that <BR clear=all></DIV></DIV><DIV class=mva><DIV>Patrick SmithAfrica Confidential</DIV></DIV></TD></TR></TBODY></TABLE>
It will be available only to a president who democratically transfers power to his successor.
H
Comment