Joaquim Alberto Chissano, the second President of Mozambique, stepped down from power on February 2, 2005 after serving his country for 19 years. During his rule, Mozambique experienced economic progress, democratic development, and pacification. The civil war that had ravaged the country for 16 years came to an end in 1992 when a UN-sponsored peace accord was signed in Rome between President Chissano and the Renamo leader, Afonso Dhlakama. Elections were held two years later and again in 1999, which Chissano and the Frelimo party won. In 2004, President Chissano announced that he would not run for a third term, even though Mozambique's constitution would allow him to do so. Rather, he voluntarily retired and let a successor be selected. For all his services to his country, President Chissano was awarded the first Mo Ibrahim Prize for Achievement in African Leadership, a great honor meant to celebrate his outstanding contributions to peace, prosperity and democracy, but also…a lot of money: 5 million US dollars over 10 years and 200,000 US dollars annually for life thereafter, in addition to up to 200,000 US dollars a year for 10 years towards the winner's public interest activities and good causes.