Tidjane Thiam Announces Presidential Candidacy in Ivory Coast Election

Thiam, who has lived abroad for over two decades, will attempt to connect with voters despite limited recognition at home, as current President Ouattara gears up for a potential fourth term.

Former Credit Suisse executive Tidjane Thiam is officially in the race for the presidency of Ivory Coast, as announced by his party, the PDCI. At 62 years old, Thiam is the sole candidate for the opposition party, marking a significant move in the political landscape ahead of the elections scheduled for October.

To qualify for the election, Thiam relinquished his French citizenship, a step that reflects his commitment to returning to his homeland. Despite his impressive resume, which features senior roles in well-known corporations such as Aviva and Prudential, Thiam's long absence from Ivory Coast—where he has spent over 20 years abroad—poses challenges in gaining widespread recognition among Ivorian voters, according to political analyst Geoffroy Kouao.

The ruling RHDP party has yet to announce its candidate, yet incumbent President Alassane Ouattara, who is 83, has expressed intentions to run for what would be his fourth consecutive term. Competing against Thiam, three prominent political figures, including former President Laurent Gbagbo, have been disqualified from participating in the election.

Thiam's career has been marked by notable achievements and controversies alike. He made history as the first Ivorian to be admitted to France's prestigious Polytechnique engineering school and later ventured into politics in 1998, becoming planning minister at the age of 36. This political ascent, however, was curtailed when the PDCI lost power in a coup the following year, prompting Thiam to shift his focus to global business ventures.

He achieved a historic milestone in 2009 by becoming the first black CEO of a company listed on the UK's FTSE 100 stock exchange, when he took the helm at Prudential. Nonetheless, his tenure was marred by regulatory scrutiny regarding transparency in business deals, and he ultimately stepped down from Credit Suisse in 2020 following allegations of espionage that he has consistently denied.

Despite the challenges, Thiam's political connections could be advantageous; he is the great-nephew of Ivory Coast's first president, Félix Houphouët-Boigny, and his uncle, Habib Thiam, served as Prime Minister of Senegal for a total of nine years. As the election approaches, all eyes will be on Thiam's campaign strategy to engage a voter base that has seen little of him in recent years.