LILONGWE (Reuters) -Malawi's President Lazarus Chakwera on Wednesday conceded defeat in the Southern African country's presidential election, less than two hours before the final result was due to be announced.
Official results released so far show ex-president Peter Mutharika, Chakwera's predecessor, has built a commanding lead in the September 16 election.
"It is only right that I concede defeat out of respect for your will as citizens and out of respect for the constitution," Chakwera said in an address to the nation.
"I am fully committed to ... a peaceful transfer of power."
Malawi's electoral commission is due to release the presidential election result later on Wednesday.
Mutharika's supporters celebrated at the national results centre when they heard Chakwera had conceded.
This month's election was the fourth showdown between Mutharika, 85, and Chakwera, 70.
Mutharika won in the 2014 and 2019 elections, though his 2019 victory was annulled by the constitutional court because of widespread irregularities including the use of correction fluid on results sheets.
Chakwera won the re-run of that election in 2020.
Political analysts had predicted that Mutharika would mount a strong challenge to Chakwera's re-election bid, as the economy has worsened since the last election.
A devastating cyclone and a regional drought, both linked to climate change, have wiped out crops and worsened hardship.
Inflation has been above 20% for more than three years.
Nearly three-quarters of Malawians live below the World Bank's poverty line of $3 a day. Around half the population does not get the minimum number of calories for adequate nutrition, according to the bank's estimates.
(Reporting by Frank Phiri;Writing by Alexander Winning;Editing by Olivia Kumwenda-Mtambo)
