In London yesterday, Kofi Annan announced Festus Mogae, the former president of Botswana as the second winner of the largest award in the world--the Mo Ibrahim Prize for Achievement in African Leadership. The award consists of $5 million over 10 years and US$200,000 annually for life, as well as up to $200,000 a year for 10 years "towards the winner's public interest activities and good causes". President Mogae was praised for his "outstanding leadership [that] has ensured Botswana’s continued stability and prosperity in the face of an HIV/AIDS pandemic which threatened the future of his country and people....Botswana demonstrates how a country with natural resources can promote sustainable development with good governance, in a continent where too often mineral wealth has become a curse." The Ibrahim Prize has been established by the Mo Ibrahim Foundation, launched in October 2006 as an initiative to support great African leadership . The 2007 recipient was Joaquim Chissano.