Ivorian-French banker Tidjane Thiam secured a significant victory on Friday, being elected as the leader of the main opposition Democratic Party of Ivory Coast. The win positions Thiam to contest the next presidential election in 2025.
Tidjane Thiam, the former CEO of banking giant Credit Suisse, clinched victory with an overwhelming 96.5 percent of the vote, while his rival, Jean-Marc Yace, secured 3.2 percent. The election took place at a party congress in the capital, Yamoussoukro, with over 6,000 delegates participating.
Accepting the responsibility, Thiam expressed humility, stating, “It is with great humility that I accept the responsibility that you have decided to entrust to me.”
At 61, Thiam is a relatively young political figure in Ivory Coast and returns to the country after more than 20 years abroad. His election marks an effort by the Democratic Party (PDCI) to rejuvenate its image following the death of former leader Henri Konan Bedie in August.
The PDCI, once the sole legal party in Ivory Coast, ruled for decades but lost power after a 1999 coup. Thiam’s election is seen as an opportunity for the party to regain prominence, with plans to support his nomination for the 2025 presidential race.
“Our new president will have to put us back in working order. He will have to give more responsibilities to the young people of the party,” stated interim party president Philippe Cowppli-Bony, emphasising the need for rejuvenation.
Having boycotted the last presidential election in 2018, the PDCI aims for a return to power in 2025. Thiam, who was once an ally of President Alassane Ouattara, shifted to the opposition in 2018.
Thiam’s return to Ivory Coast follows a distinguished business career, including leadership roles at Aviva, Prudential, and Credit Suisse. He is also the great-nephew of Ivory Coast’s first president and PDCI founder, Felix Houphouet-Boigny. Thiam’s role as the leader of the opposition sets the stage for a dynamic political landscape in Ivory Coast in the coming years.