Malawi’s President, Lazarus Chakwera, on Wednesday conceded defeat in last week’s election, admitting that his rival, former president Peter Mutharika, had secured what he described as an “insurmountable lead.”

In a national address just hours before the electoral commission was due to announce final results of the September 16 poll, Chakwera confirmed he had already congratulated Mutharika.

Chakwera said, “A few minutes ago, I called Professor Mutharika to wish him well. It was clear that my rival Peter Mutharika has an insurmountable lead over me.”

Chakwera, 70, who rose to power in 2020 after defeating Mutharika, faced mounting criticism over economic mismanagement and unfulfilled promises.

The soaring cost of living was a major campaign issue, with inflation peaking at 33 per cent and the prices of staple maize and fertiliser skyrocketing in the agriculture-dependent nation.

Critics also accused the outgoing president of indecisiveness and failing to curb corruption or deliver jobs to millions of Malawians.

Despite his loss, Chakwera urged calm and assured Malawians of a smooth transition.

“In the days that remain, I want you to know that I am committed to a peaceful transfer of power. I know that many of you who supported my campaign for reelection will be disappointed,” he said.