Malawi's President, Lazarus Chakwera conceded defeat on Wednesday, September 24 following last week’s election, announcing in a national address that his rival, Peter Mutharika, held an "insurmountable lead."
"A few minutes ago, I called Professor Mutharika to wish him well," Chakwera said, speaking just hours before the election authority was scheduled to announce the final results of the September 16 poll.
The 70-year-old leader of the Malawi Congress Party (MCP) took power in 2020 after defeating Mutharika, a constitutional law expert from the Democratic Progressive Party (DPP).
The state of the economy dominated the election in the small southern African nation. Critics frequently accused Chakwera's administration of mismanagement, indecisiveness, failing to tackle corruption, and not delivering on job creation promises. During his term, costs soared in the agriculture-dependent country, with inflation reaching 33 percent and the prices of staple maize and fertilizer jumping significantly—a key issue for voters.
"I know that many of you who supported my campaign for reelection will be disappointed," Chakwera said, committing to a peaceful transfer of power in the days that remain.
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