This prize awarded by a Foundation established by a Sudanese-born businessman, Mo Ibrahim, is described as the largest individual annual award in the world.

The prize on offer for a lucky winner is said to be ‘‘worth US$5,000,000 over ten years and US$200 000 a year for life. A further US$200 000 a year, for ten years, is also available for public interest activities and good causes espoused by the winner.’’

According to the dispatch, ‘‘the prize is conferred to a democratically elected former Executive Head of State or Government from a sub-Saharan African country who has served their constitutionally mandated term and has left office in the last three years.’’

Former presidents of Ghana John Kufuor and Thabo Mbeki of South Africa are said to be favourites for the prize.

Among other members of the Prize Committee of the Mo Ibrahim Foundation, include former Finland president and U N special envoy to Kosovo, Martti Ahtisaari, Mohamed ElBaradei, Director General of the International Atomic Energy Agency and Mary Robinson, former President of Ireland and former United Nations High Commissioner for Human Rights. The committee members are all expected to be in attendance.