Sudanese magnate Mo Ibrahim will not be awarding any African ex-leader his $5m (£3m) annual prize for good governance. Mr. Ibrahim gave no reason for the decision, saying he had always intended for there to be years when no prize would be awarded. Now in its third year, the prize is given to a democratically elected leader from sub-Saharan Africa who has served their term and then left office. South Africa's Thabo Mbeki and Ghana's John Kufuor had been the favourites. The winners receive $5m over 10 years, and then $200,000 a year for life after that. Mr. Ibrahim gave no specific reason for not awarding the prize and said there was "no issue of disrespect" meant towards eligible candidates. Coups continue BBC Africa analyst Martin Plaut says Mr. Ibrahim established the prize because well-run African democracies are not thick on the ground. Mr. Ibrahim argues that the prize is needed because many African leaders come from poor backgrounds and are tempted to hang on to power for fear that poverty is what awaits them when they give up the levers of power. But our analyst says recent evidence of the prize's effectiveness across Africa is not encouraging. Uganda, Chad and Cameroon have all changed their constitutions so their leaders can retain their positions. And there have been coups in Guinea, Mauritania and Madagascar, as well as several elections that fell well short of international standards. The countries that have received most praise from Mo Ibrahim's foundation this year - Mauritius, Cape Verde and Seychelles - are far from the continent's centres of power. Source: BBC