Record-Breaking Governance Prize Launched:
Great idea: reward leaders to leave office peacefully. "Mo Ibrahim Foundation
announced today a $5 million annual prize for African leaders who were elected fairly, improved their country's standard of living, and handed over power peacefully to the next elected government.
Recipients of the Mo Ibrahim Prize for Achievement in African Leadership will get $500,000 a year in their first 10 years out of office, and $200,000 a year for the rest of their lives. The prize will be the world's most generous award, according to the foundation. .. [Ibrahim] hopes to make the first award by the end of 2007.
The prize's selection committee will choose winners with the help of a governance index that is being developed by Dr. Robert Rotberg at Harvard's Kennedy School of Government. The foundation will spend about $500,000 a year to develop and update the index. ..
Rotberg told AllAfrica that most existing measures rely on interviews and other forms of documentation for comparison, but that he will use only quantifiable, objective measures. For example, in measuring changes to the national infrastructure, the index may count the miles of paved road in a country. To measure political freedom, team members may identify the number of journalists or opposition leaders held in prison. ..
Ibrahim said his financial models assume that leaders will live 25 years after leaving office, making the estimated net prize worth $8 million. With new winners being added each year, the cost to the foundation will quickly rise into the tens of millions, but Ibrahim said .. "We are fully funded. We are not seeking money from anybody."
Much of Ibrahim's personal fortune comes from last year's sale of his African telecommunications company, Celtel, to Kuwait's MTC for $3.4 billion." 11:18:45 PM