Opposition candidate Bassirou Diomaye Faye of Senegal appeared poised to secure the presidency after receiving a concession call from his rival in the ruling coalition on Monday.
Initial results following the closure of polls on Sunday evening indicated that Faye, aged 44, might have secured a majority, prompting jubilant celebrations among his supporters in Dakar.
Initially cautious, ruling coalition candidate Amadou Ba, aged 62, acknowledged the trend and congratulated Faye, signaling a peaceful transfer of power in Senegal, a rarity in West Africa known for its democratic stability.
The potential victory of Faye, if confirmed officially, is anticipated to bolster democracy in the region, contrasting with the frequent military coups seen elsewhere. This development comes amid Senegal’s increasing importance in the fight against regional jihadist threats.
Market optimism surged as reports of Faye’s impending victory emerged, with Senegal’s international bonds experiencing a rebound.
Formal election results are anticipated to be declared by the Dakar appeals court later in the week, with thousands of voting stations yet to report their tallies.
The election outcome carries significant implications for Senegal, as it seeks stability and economic growth, especially with the onset of oil and gas production this year.
Faye’s success owes much to his alliance with Ousmane Sonko, a prominent opposition figure, emphasizing a commitment to combat corruption and prioritize national interests.
Young voters, who form a substantial portion of the electorate, have rallied behind Faye and Sonko, disillusioned by economic challenges and perceived government failures.
The opposition’s momentum was fueled by discontent over rising living costs, perceived attempts to prolong President Macky Sall’s tenure, and controversies surrounding Sonko’s exclusion from the race.
Investors are closely monitoring the situation, wary of potential shifts in policy direction under a new administration that may deviate from the business-friendly approach of Sall’s government, which has attracted significant investments.
