Prize Created to Promote Democracy in Africa

Mo Ibrahim, a Sudanese billionaire, announced on Thursday that his foundation is offering a $5-million prize for the sub-Saharan African president who upon leaving office has shown the greatest commitment to democracy and good governance, reports The New York Times.

Mr. Ibrahim said he intends to finance the prize with money from the $3.4-billion sale last year of his cellphone company, Celtel.

Africans must face up to the continent’s leadership record, Mr. Ibrahim said in announcing the award. “Everything starts by admitting the truth: we failed,” said Mr. Ibrahim. “I’m not proud at all. I’m ashamed. We really need to resolve the problem and the problem, in our view, is bad leadership and bad governance.”

The prize, called the Mo Ibrahim Award for Achievement in African Leadership, could be given as early as next year by the Mo Ibrahim Foundation, but won’t necessarily be awarded annually.