Conceding for Democracy: Chakwera Steps Aside in Malawi's Presidential Election

Malawi's President Lazarus Chakwera conceded defeat on Wednesday in the country's presidential election, just hours before the official results were expected to be released. Preliminary figures indicated a solid lead by former president Peter Mutharika.

In a national address, Chakwera emphasized his respect for the people and the constitution as reasons for his concession, affirming a commitment to a peaceful transition.

This election represents the fourth electoral contest between 85-year-old Mutharika and the 70-year-old Chakwera. Economic woes, exacerbated by climate change-induced disasters, loomed large over the election backdrop, with inflation rates persistently exceeding 20% and widespread poverty affecting the nation.

(With inputs from agencies.)