In a remarkable development, Paul Hounkpe, the sole opposition candidate in Benin's presidential election, conceded defeat to Finance Minister Romuald Wadani, state television reported Monday.

Presidential elections in Benin

Reuters reported that opposition candidate Honkpe conceded defeat in a statement on Monday before the preliminary results were announced, according to a social media post by the state television network.

Romuald Wadani, a 49-year-old former Deloitte executive, was reportedly the chosen successor to outgoing President Patrice Talon and had the backing of the ruling coalition in Sunday's election, which took place four months after a coup attempt that nearly toppled the government.

Wadani was the frontrunner after the main opposition party, the Democrats, failed to secure enough lawmakers to sponsor its own candidate and did not back Hunkby.

Benin presidential elections

Reports indicate that he will be under pressure to strengthen the country's defenses in the north, which faces a growing threat from jihadist groups based in the central Sahel region.

A stable transition in Benin is important not only for the country itself, but also for the wider West African region, given the political instability caused by successive coups, according to Agence France-Presse.

Therefore, it is particularly important to focus efforts on stabilizing the region and preventing further unrest, and to provide a model of stability for the wider region.

Wadani had pledged to work on key issues such as expanding access to clean water, expanding social security programs, and ensuring emergency health care regardless of ability to pay.

During his election campaign, Honkeby said that the high-profile tourism projects and spectacular GDP growth under Talon and Wadani had not improved the lives of most people.