The 2006 Recipient of the EMA Foundation Prize

In August 2005, Mr. Ely Ould Mohamed Vall, the head of the Military Council, peacefully claimed control of the government of the Islamic Republic of Mauritania, announcing a two-year period for reform, at the end of which, he promised to cede the office to the new, democratically elected president. Since then, he has kept his word. In barely a year and a half, his transitional government regained the confidence of lenders. In addition, the nation’s constitution has been amended to guarantee universal suffrage so that future heads of state will be unable to have total power. The censure of the press has been removed and a charter was established in collaboration with Reporters sans Frontieres. Measures were also adopted to facilitate women’s access to the job market, raise salaries and eradicate slavery which is still practiced in some regions of that country. A fund has been established to ensure that a portion of oil earnings will be reserved for future generations. At the macroeconomic level, transparency in public finances, efficiency in public expenditure and the improvement of the fiscal system are top priorities. The reform of the justice system and the overhauling of the financial system are underway. At the heart of all this, lies the creation of a foreign exchange market. In attributing its 2006 Prize to the man behind this astonishing metamorphosis, President Ely Ould Mohamed Vall, the EMA Foundation launched an appeal to actors of the financial and economic sectors, encouraging them to finally take a closer look at the new Africa that is emerging – one based on new ideologies : globalisation, universality and democracy.

Photo from left to right: Mr. Ibrahim Ba, EMA Foundation Advisor, Mr. Guy Mettan, EMA Foundation President, President Ely Ould Mohamed Vall.