Newly established Mo Ibrahim Foundation scholarship for sub-Saharan Africa, and named after the chairman, Celtel International, has lifted African students with £500,000, about N122 billion.
The scholarship, the foundation said is aimed at helping to produce exceptional leaders for the continent by attracting and supporting outstanding sub-Saharan African students on the full-time MBA Programme at London Business School.
Remarkable is that the scholarship is the first grant to be made by the newly founded Mo Ibrahim Foundation, which was also presented to South African, Mr. Richard Hasson for MBA2008.
The Mo Ibrahim Foundation Scholarship is the largest award in the School's Scholarship portfolio. Each year, one full fee scholarship plus a stipend together totalling £50,000 will be awarded to an exceptional student from sub-Saharan Africa who has been offered a place on the full-time MBA programme, and who demonstrates both merit and need. The initial pledge of £500,000 will support one student per year over the next ten years.
“The focus of the Foundation is on the issues of governance and leadership in Africa. We believe that these are the most important challenges facing Africa today and that if we succeed in these areas all other things will follow,” Mo Ibrahim said.
In addition, he said, that by investing in the development of senior leaders, “We’re also developing a programme for aspiring leaders and in that context my fellow trustees and I are delighted that London Business School is the first beneficiary of the Foundation. What better place to start than by helping the very best talent from sub-Saharan Africa to study for an MBA at one of the world's top business schools.”
It was gathered that the inaugural award was presented in London at the LBS, recently Mr. Hasson, who plans to use his MBA studies to gain experience in management with a view to starting his own business consultancy in South Africa, where he feels strongly about creating business and job opportunities.
“I am honoured to receive The Mo Ibrahim Scholarship for Sub-Saharan Africa. It has given me an amazing opportunity that I would otherwise not have been able to accept – to come to London Business School and obtain an MBA.
Here I will have the chance to meet like-minded people from around the world, both faculty and students, who can help me in developing my global perspective of business,” he said.
Mr. Hasson further expressed his delight and honour to be the first recipient of the foundation’s grant.
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