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| Prize offered to Africa's leaders | Prize offered to Africa's leaders |
| (about 1 hour later) | |
| A $5m prize for Africa's most effective head of state is being launched by one of the continent's top businessmen. | 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. | 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. | 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. | "We need to remove corruption and improve governance," Mr Ibrahim said. |
| 'No life after office' | '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. | 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. |
| "The day we do not need any aid will be the most wonderful day in my life." | "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 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. | 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. | 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| "Suddenly all the mansions, cars, food, wine is withdrawn.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. | "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 people who are doing badly and are killing their own people or stealing state resources are going to carry on doing that Patrick SmithAfrica Confidential | The people who are doing badly and are killing their own people or stealing state resources are going to carry on doing that Patrick SmithAfrica Confidential |
| "The prize will offer essentially good people, who may be wavering, the chance to opt for the good life after office," said Mr Ibrahim. | "The prize will offer essentially good people, who may be wavering, the chance to opt for the good life after office," said Mr Ibrahim. |
| BBC Africa editor Martin Plaut said it would be the world's richest prize - exceeding the $1.3m (£700,000) awarded by the Nobel Peace Prize. | BBC Africa editor Martin Plaut said it would be the world's richest prize - exceeding the $1.3m (£700,000) awarded by the Nobel Peace Prize. |
| It will be available only to a president who democratically transfers power to his successor. | It will be available only to a president who democratically transfers power to his successor. |
| Harvard University will assess how well the president has served his or her people while in office. | Harvard University will assess how well the president has served his or her people while in office. |
| Nelson Mandela, former US President Bill Clinton and UN Secretary General Kofi Annan are among those who have welcomed the initiative. | Nelson Mandela, former US President Bill Clinton and UN Secretary General Kofi Annan are among those who have welcomed the initiative. |
| Mr Mandela described it as an example to the world. Mr Clinton said he wished Mr Ibrahim and his foundation "much success in its important work". | Mr Mandela described it as an example to the world. Mr Clinton said he wished Mr Ibrahim and his foundation "much success in its important work". |
| Differing opinion | Differing opinion |
| And Mr Annan thanked the businessman for "establishing such a generous prize as an incentive". | And Mr Annan thanked the businessman for "establishing such a generous prize as an incentive". |
| HAVE YOUR SAY The intention is good but I do not think it will promote good governance Wanjiku Kagira-Kargbo Send us your comments | |
| But not everyone agrees. | But not everyone agrees. |
| Patrick Smith, of specialist publication Africa Confidential, said: "The people who know what to do and have done well are already doing it. | Patrick Smith, of specialist publication Africa Confidential, said: "The people who know what to do and have done well are already doing it. |
| "And the people who are doing badly and are killing their own people or stealing state resources are going to carry on doing that." | "And the people who are doing badly and are killing their own people or stealing state resources are going to carry on doing that." |
| Africa has one of the world's richest concentrations of minerals precious metals, yet 300 million of its residents live on less than a dollar a day. | Africa has one of the world's richest concentrations of minerals precious metals, yet 300 million of its residents live on less than a dollar a day. |