And the winner is ...

A $5 million prize -- established by Sudanese-born businessman Mo Ibrahim to reward good leadership in Africa -- was dramatically awarded Monday to no one. “The Prize Committee has considered some credible candidates,” a committee spokesperson explained in a statement. “However, after in-depth review, the Prize Committee could not select a winner.” Democratically elected African presidents and prime ministers who have left office within the last three years are eligible for the prize. Former South African President Thabo Mbeki and Ghana's ex-President John Kufuor were among those eligible this year.

Mr. Ibrahim, who spoke at Monday's “non-award” event, said the board has accepted the independent prize committee's decision.

The prize is worth more than three times as much money as the Nobel. Last year, it went to Festus Gontebanye Mogae, the former president of Botswana. And the year before that, it went to Joaquim Alberto Chissano, the former president of Mozambique.

This is the first time in the history of the prize that the committee did not name a winner.