Someone may announce their candidacy for either the Republican or Democrat parties. Write in campaigns can also be organized so that someone may run while not being personally involved themselves.
Yes: Candidacy is the campaign of a candidate to be elected.
Hilary might announce her candidacy for President this week.
support for the presidential candidacy of william jennings bryan
Ralph Nader.
Ralph nader
The school principal will be announcing the winners of the science fair tomorrow morning.
Ralph Nader - @Noahisaacdrew
Support for the presidential candidacy of William Jennings Bryan.
depends on the office up for filling
In this case, "announcing" is functioning as a present participle because it is describing the action or state of announcing the happy news. The present participle form is often used to describe ongoing actions or situations.
July 2013
theory of organizing