UK – Sudanese Billionaire and Telecommunications czar Mohammed “Mo” Ibrahim is offering a $5M prize to an African leader who not only improves the standard of living amongst ordinary citizens but also leaves office after his or her term has expired.
The prize which is part of a $100M fund that Mo Ibrahim has set aside for investment in Africa is also said to be higher than the Nobel Peace Prize. The Mo Ibrahim Foundation will manage and administer the funds.
Mo Ibrahim founded CELTEL, a mobile phone company that now serves about 15 African countries and sold it for $3.4 Billion in 2005 thus cashing in on a $1.4 Billion profit. Ibrahim now spends his time on philanthropy and investing in Africa.
Mo Ibrahim has a B.Sc in electrical engineering, M.Sc in Electronical engineering from University of Bradford and a PhD in mobile communications from the University of Birmingham. He is a member of the Africa Regional Advisory Board of London Business School.
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