By Enyichukwu Enemanna
Malawi’s President Lazarus Chakwera has conceded defeat in last week’s presidential election even before the formal declaration of results by the country’s electoral commission.
“It is only right that I concede defeat out of respect for your will as citizens and out of respect for the constitution,” Chakwera, 70, said in an address.
While the Electoral Commission was due to release the results of the vote later on Wednesday, official results released so far indicate that ex-president Peter Mutharika has gained a strong lead over the incumbent Chakwera.
Malawians Tuesday last week took to the polls to vote on the country’s next President, in a vote analysts predicted would be one of the most tightly contested votes in the country in recent history between Mutharika and Chakwera, the candidates of the two biggest parties in Malawi’s parliament.
Since Chakwera was elected in 2020, the country has experienced economic stagnation, with inflation levels above 20 per cent for more than three years.
The Southern African country is also largely considered poor, battered by increasing costs and severe fuel shortages.
