LONDON, Oct. 14 (UPI) -- The prestigious multimillion-dollar Ibrahim prize for good governance in Africa has again gone unawarded, the group said.
The prize was designed to encourage good governance on the troubled continent by offering an incentive -- $5 million over the first 10 years and a $200,000 stipend after that -- for recipients who demonstrate strong leadership skills while holding democratically elected office and then retire when their term ends.
It is the fourth time in five years the Ibrahim Prize for Excellence in Leadership has not been awarded, The New York Times said Monday. It has only been awarded three times since its creation seven years ago.
The prize was named for Mo Ibrahim, a Sudanese-born telecommunications billionaire.
It was last awarded to former Cape Verde President Pedro Pires in 2011. Former South African President Nelson Mandela was granted an honorary prize by the group.
"After careful consideration, the prize committee has determined not to award the 2013 Prize for Excellence in Leadership," said Salim Ahmed Salim, chairman of the foundation that oversees the prize.