"Mo Ibrahim has a vision to promote and recognise good governance that will drive Africa's political and economic renaissance. He has established the Mo Ibrahim Foundation to develop criteria for good governance, stimulate public debate and challenge the continent's leaders to set the global benchmark on this issue.

Most specifically, the Foundation will provide a unique prize to recognise good governance by African leaders who have left office after a successful period in power. It is appropriate that this will be the largest prize in the world. Nothing is more important. The prize will recognise African leaders for their accomplishments and provide the platform from which they can engage civil society and build on their achievements.

This is an African initiative celebrating the successes of new African leadership. It sets an example that the rest of the world can emulate. We wish the new Foundation very well and call for leaders across the world - in government, civil society and business - to endorse its aims and back its vision. For the Foundation aims to deliver the biggest prize of all: helping to ensure that our rich continent becomes a prosperous one - for all its people."