In brief
As the only candidate for his party, Thiam must overcome his long absence from Ivory Coast to connect with voters.
Former Credit Suisse chief Tidjane Thiam has officially announced his candidacy for the presidency of Ivory Coast in the upcoming election, as confirmed by his political party, the PDCI. At 62 years old, Thiam is the sole candidate being put forth by the country's leading opposition party. Having spent nearly two decades living abroad, Thiam was required to renounce his French citizenship to qualify for the election. His diverse career includes high-level positions at respected global companies such as Prudential and Aviva. Notably, he resigned from Credit Suisse amidst a scandal involving allegations of corporate espionage, which he has contested.Political expert Geoffroy Kouao expressed to the AFP that Thiam may not be widely recognized by Ivorian voters after over 20 years away from the nation, indicating he must mount a robust campaign to gain the public's support for the October elections. Meanwhile, the ruling RHDP party has yet to reveal their presidential candidate, while the sitting president, Alassane Ouattara, 83, has shown interest in seeking a fourth term.Notably, Thiam's political career began when he became the first Ivorian to pass the rigorous entrance exam for France's esteemed Polytechnique engineering school. He initially ventured into politics in 1998, serving as planning minister until the PDCI lost power during a coup in 1999. After that, he moved abroad to pursue a successful business path, achieving groundbreaking milestones, such as becoming the first black CEO of a firm listed on the FTSE 100 when he took over Prudential in 2009.Despite previous accolades, his tenure was shadowed by regulatory scrutiny, including criticisms surrounding a planned acquisition that he did not disclose. Furthermore, Thiam's exit from Credit Suisse in 2020 only added to his contentious career, but his familial connections in the region remain strong. He is notably related to the late Félix Houphouët-Boigny, Ivory Coast's first president, and has a significant lineage in West African politics through his uncle, Habib Thiam, who served multiple terms as Senegal's prime minister. As the political landscape of Ivory Coast continues to evolve, Thiam's entry into the race adds a new dynamic in a country facing complex challenges and transformations.
