Tidjane Thiam, renowned for his executive roles at Aviva, Prudential, and Credit Suisse, has declared his bid for the presidency of Ivory Coast, marking a significant step after an illustrious business career abroad.
Thiam, who fled a coup in his homeland nearly 25 years ago, seeks to lead the centre-right Democratic Party of Ivory Coast (PDCI), and potentially emerge as its candidate for the 2025 elections.
In a recent conversation with the Financial Times, Thiam, currently touring impoverished villages in the eastern part of the country, underscored his focus on garnering support from the PDCI’s 6,000 delegates.
He refrained from publicly launching a national campaign, citing his dedication to engaging with the party’s delegates, whose votes will determine the selection of up to five candidates.
Thiam’s candidacy has already stirred ripples within the political landscape, notably causing unease among the incumbent leadership, exemplified by Alassane Ouattara, who himself transitioned from international banking to Ivorian politics.
While a spokesperson for the presidency declined to comment specifically on Thiam’s bid, they highlighted the administration’s support for a diverse political environment operating within the confines of the rule of law.
Sources close to Thiam disclosed concerns about his security, a common issue in Ivorian politics where threats to candidates are prevalent. Following the contentious 2020 elections, which saw post-election violence claiming over 50 lives, Thiam is reportedly apprehensive about potential risks to his safety.
Experts note Thiam’s potential strengths as a contender, highlighting his relative youthfulness at 61 in a political sphere often dominated by older figures. Moreover, his prior experience in Ivorian government roles during the mid-1990s under President Bédié adds weight to his candidacy.
Despite Thiam’s prolonged absence from the country, supporters like Francis Alain Konan stress the familial recognition stemming from Thiam’s lineage, linking back to Félix Houphouët-Boigny, Ivory Coast’s first president and independence leader.
However, Thiam’s dual citizenship and his career history in finance, marked by controversies during his tenure at Credit Suisse and Prudential, have invited criticism and skepticism from political opponents and regulatory bodies alike.
Nevertheless, Thiam’s vision for economic growth, particularly focusing on supporting small and medium-sized enterprises, aligns with his emphasis on fostering the country’s economic development, especially considering Ivory Coast’s predominantly agricultural economy despite swift recovery from past conflicts.
As Thiam sets his sights on political leadership in Ivory Coast, the trajectory of his candidacy and potential challenges remain pivotal aspects shaping the country’s political landscape leading up to the 2025 elections.
