Mohammed (Mo) Ibrahim, 61, is a Sudanese-born billionaire who made his fortune building Celtel, a mobile phone company that serves 15 African countries. He sold it in 2005 for $3.4 billion and is worth an estimated $2.5 billion today. Now he has a philanthropic idea that is as novel as it is potentially naive. On Oct. 22 his Mo Ibrahim Foundation will award its first $5 million annual prize to a former African head of state who has shown exemplary leadership in things like political freedom and promoting the rule of law. The prize, which dwarfs the $1.5 million Nobel Prize, will be spread out over ten years, with $200,000 a year after that.....(Read more.)
Why isn't there more foreign development in Africa?
Infrastructure and education. We also have a problem presenting a balanced view of Africa. The media by its nature is a hostage of time. Africa has its 15 seconds. And that 15 seconds is Mugabe, a dictator.----Mohammed Ibrahim
Source: Outfront; Forbes.com: 10/29/07