Former Head of State Rupiah Banda has conceded defeat to President-elect Michael Sata in the September 20 elections.
Banda, who wept during his farewell speech, told journalists in Lusaka that the Movement for Multi-party (MMD) will accept the results of the polls as they reflect a true picture of the aspirations of the Zambian people.
He said former ruling party will allow voters to have what they desire as the MMD believes in democracy.
Banda also thanked the Zambian people for giving him a chance to serve as it was a great honor, adding that MMD must now face the reality that change is inevitable.
The former president noted that his party never knowingly abused public funds but did what it thought was best for the citizens.
He wished President Sata well as he has no ill feelings or malice in his heart, but wants the best for the country.
The MMD leader advised party members to reflect on its mistakes and correct them to allow the former ruling party to have the potential to contest in the next elections.
Furthermore, Banda thanked his family profoundly for standing by him with loyalty at all times even when he could not address their needs due to presidential duties.