Incumbent Chakwera, who took office in 2020 on an anti-corruption and reform platform, conceded defeat amid mounting public frustration over economic challenges.
After days of voting and counting, Malawi's president Lazarus Chakwera has conceded defeat, bringing his single five-year term to an end. Chakwera, who came to power in 2020 on promises to tackle corruption and rebuild the economy, lost to his predecessor Peter Mutharika of the Democratic Progressive Party (DPP).
Mutharika, who previously served as president from 2014 until he was ousted in a court-sanctioned re-run in 2020, is poised to make a dramatic comeback. Initial tallies from the Malawi Electoral Commission (MEC) showed him commanding at least 66% of votes cast, a significant margin over Chakwera.
The MEC has said it will release official results later on Wednesday, but Chakwera's concession all but seals the outcome.
Keep up with the latest headlines on WhatsApp | LinkedIn
Chakwera concedes defeat after one term
In a nationally televised address, Chakwera acknowledged the people's verdict, saying:
"To the majority of you who voted, this outcome is a reflection of your collective will to have a change of government. And so, it is only right that I concede defeat out of respect for your will as citizens and out of respect for the constitution. But regardless of whether or not you voted and regardless of how you voted, if you are a Malawian citizen anywhere in the world, I want to thank you for conducting yourself throughout this election in a peaceful, orderly, and lawful manner."
The outgoing president also committed himself to a smooth handover, although he had cited irregularities:
"I am fully committed to facilitating a peaceful transfer of power. I have already instructed my team to begin preparations to render the incoming administration any support needed to ensure a seamless process that safeguards our nation's peace, order, institutions, public services, and constitutionalism."
Economic turmoil defines the vote
This election unfolded against a backdrop of deep economic turmoil that has gripped Malawi over the past five years. Since the last national elections in 2020, the country's economy has largely stagnated, weighed down by a mix of domestic challenges and external shocks. Inflation has remained stubbornly high persistently above 20%, eroding household incomes and making basic commodities increasingly unaffordable.
At the same time, Malawi's debt burden has grown unsustainable. The government entered into restructuring talks with international lenders and the IMF, but austerity-linked reforms, such as subsidy cuts, deepened public discontent.
For many voters, these economic realities became the decisive factor in the election, overshadowing campaign rhetoric and shaping the overwhelming demand for change at the ballot box. The country was also battered by Cyclone Freddy in 2023, one of the deadliest storms in southern Africa, which devastated crops and worsened food insecurity for millions of Malawians.
Mutharika's return is due to this widespread disillusionment with Chakwera's leadership, which many say fell short of his anti-corruption and reform promises and rhetoric. Many voters viewed the former president as more fit to steady the economy, despite his own administration having faced corruption allegations in the past.
Tasks ahead for Mutharika
Among Peter Mutharika's immediate challenges will be steering Malawi out of its mounting debt crisis. The country's public debt has surged to more than 70% of GDP, much of it owed externally, leaving the government dependent on bailout packages and debt restructuring talks with the International Monetary Fund.
Sign up for free AllAfrica Newsletters
Get the latest in African news delivered straight to your inbox
While the IMF approved a USD 175 million Extended Credit Facility in late 2022, its conditions, such as subsidy cuts and currency devaluations, have been politically unpopular and contributed to rising living costs. Mutharika will face the delicate task of balancing demands by international lenders with the immediate social needs of Malawians.
Equally pressing is the need to restore public confidence in governance. Public frustration grew as corruption remained endemic across government institutions. For Mutharika, who himself faced allegations of mismanagement during his earlier tenure, regaining citizens' trust will require visible accountability measures and institutional reforms that go beyond rhetoric.
Also, Malawi's vulnerability to climate shocks poses a structural challenge for its predominantly agrarian economy. With many Malawians relying on smallholder farming for survival. But the sector has been repeatedly battered by erratic rainfall and prolonged droughts. These challenges will define the trajectory of Mutharika's return to power.
