Pohamba Is Best in Africa
PRESIDENT Hifikepunye Pohamba became N$58 million richer after he scooped the 2014 Ibrahim Prize for “good governance” in Africa, an award a political analyst said was well deserved.
The Ibrahim Prize is considered the world’s most valuable and lucrative individual award in the world.
Pohamba scooped the award after Cape Verde’s former President Pedro De Verona Rodrigues Pires won it in 2011. The prize has only been awarded four times – in 2007, 2008, 2011 and in 2014 – due to a lack of suitable candidates.
President Pohamba will get US$5 million (N$58 million) spread over 10 years and after that he will receive US$200 000 (N$2,3 million) per year for life.
That means the outgoing President will receive N$2,3 million per year from the Mo Ibrahim Foundation in addition to the tax exempted N$2,1 million annual salary which he will earn as his retirement package. Permanent secretary in the Office of the President Samuel /Goagoseb said Pohamba welcomed the Mo Ibrahim Prize which he described as an award to the Namibian nation.