IBOV 170,630 ▼ 0.29% IPSA 10,932 ▲ 0.08% IPC MEX 68,481 ▲ 0.78% MERVAL 3,352,708 ▼ 0.01% COLCAP 2,386.78 ▲ 1.53% BVL PERÚ 56,321.11 ▲ 7.67% USD/BRL 5.07 ▲ 0.08% USD/MXN 17.20 ▲ 0.04% USD/CLP 888.99 ▼ 1.15% USD/COP 3,490 ▲ 0.00% USD/PEN 3.39 ▼ 0.24% USD/ARS 1,429 ▼ 0.05% USD/UYU 40.35 ▼ 0.47% USD/PYG 6,094 — 0.00% USD/BOB 6.86 ▲ 0.15% USD/DOP 58.90 ▲ 0.37% USD/CRC 452.40 ▲ 0.13% USD/GTQ 7.61 ▼ 0.01% USD/HNL 26.66 ▲ 0.01% USD/NIO 36.62 — 0.00% USD/VES 585.94 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.29 ▲ 0.46% USD/TTD 6.76 ▲ 1.44% EUR/BRL 5.88 ▲ 0.00% BRENT 83.13 ▼ 4.81% WTI 80.57 ▼ 5.08% IRON ORE 161.91 — — COPPER 6.50 ▲ 1.03% GOLD 4,348 ▲ 3.16% SILVER 70.29 ▲ 3.58% SOY 1,135 ▲ 1.89% CORN 415.50 ▲ 0.67% WHEAT 590.00 ▲ 0.94% COFFEE 259.10 ▲ 0.74% SUGAR 14.16 ▲ 3.36% ORANGE JUICE 154.05 ▼ 5.66% COTTON 76.76 ▲ 5.24% COCOA 3,998 ▲ 5.80% BEEF 243.38 ▼ 2.60% CATTLE 361.38 ▲ 1.11% LITHIUM 84.07 ▲ 2.06% PETR4 39.23 ▼ 4.74% VALE3 81.85 ▲ 3.39% ITUB4 40.49 ▼ 0.27% BBDC4 17.64 ▼ 0.90% ABEV3 16.58 ▼ 0.18% BBAS3 19.39 ▼ 0.36% B3SA3 15.14 ▼ 0.59% WEGE3 42.85 ▲ 0.56% PRIO3 57.18 ▼ 6.78% SUZB3 42.85 ▲ 3.20% RENT3 40.60 ▼ 0.25% AZZA3 17.27 ▲ 0.47% CSAN3 3.24 ▼ 2.99% RAIZ4 0.42 ▼ 2.33% PCAR3 1.75 ▲ 12.90% GMAT3 3.99 ▲ 0.76% PSSA3 49.81 ▼ 1.35% CVCB3 1.38 ▼ 0.72% POSI3 3.69 ▲ 1.37% SLCE3 14.22 ▼ 0.21% NATU3 8.50 ▼ 0.70% BRKM5 9.13 ▲ 0.33% RANI3 7.90 ▼ 0.63% CSNA3 6.17 ▲ 1.98% CMIN3 4.43 ▲ 3.02% USIM5 11.04 ▲ 1.75% GGBR4 23.52 ▼ 1.51% ENEV3 24.59 ▲ 0.20% NEOE3 33.80 — 0.00% CPFE3 44.09 ▼ 0.74% CMIG4 10.73 — 0.00% EQTL3 38.29 ▼ 1.24% LREN3 15.30 ▼ 0.52% VIVT3 33.42 ▼ 0.33% RAIL3 13.27 ▼ 0.67% KLABIN 17.19 ▲ 1.84% RAIA DROGASIL 17.35 ▼ 0.63% RDOR3 34.18 ▲ 0.29% HAPV3 11.39 ▼ 0.09% FLRY3 14.87 ▼ 2.04% SMTO3 16.15 ▲ 2.22% UGPA3 23.99 ▼ 3.27% VBBR3 28.75 ▼ 1.37% BBSE3 37.74 ▼ 0.34% BPAC11 51.14 ▲ 1.49% CURY3 32.89 ▲ 2.43% AERI3 2.32 ▼ 0.43% VIVARA 21.55 ▲ 1.03% COMPASS 25.36 ▲ 0.28% VAMOS 3.01 ▼ 0.66% SANB11 27.04 ▼ 0.33% ASAI3 7.98 ▼ 1.48% SBSP3 27.88 ▲ 1.23% WALMEX 52.79 ▲ 1.36% GMEXICO 214.03 ▲ 2.07% FEMSA 217.37 ▼ 2.37% CEMEX 22.38 ▲ 0.04% GFNORTE 189.90 ▲ 0.66% BIMBO 58.21 ▲ 0.10% TELEVISA 10.06 ▲ 1.11% AMX 23.44 ▼ 1.84% GAP 427.39 ▲ 4.56% ASUR 301.33 ▲ 4.96% OMA 234.59 ▲ 7.00% KOF 184.44 ▼ 1.88% GRUMA 292.97 ▼ 1.04% KIMBER 37.63 ▲ 0.37% SQM-B 73,980 ▼ 2.01% COPEC 6,089 ▼ 0.50% BSANTANDER 73.75 ▲ 0.20% FALABELLA 5,962 ▲ 0.20% ENELAM 78.64 ▼ 1.17% CENCOSUD 2,291 ▲ 1.91% CMPC 1,063 ▲ 0.28% BANCO CHILE 181.60 ▼ 0.22% LATAM AIR 24.94 ▲ 4.18% YPF 83,400 ▼ 0.36% GGAL 8,210 ▼ 0.73% PAMPA 5,290 ▼ 0.28% TXAR 694.00 ▼ 0.93% ALUAR 1,029 ▲ 0.19% TGS 9,875 ▼ 0.25% CEPU 2,371 ▼ 1.00% MIRGOR 17,150 ▼ 0.72% COME 44.98 ▼ 2.34% LOMA NEGRA 3,750 — 0.00% BYMA 305.50 ▲ 0.74% TELECOM ARG 4,570 ▼ 3.89% ECOPETROL 15.65 ▼ 5.61% BANCOLOMBIA 81.73 ▲ 1.90% GRUPO AVAL 5.40 ▼ 2.70% CREDICORP 363.45 ▼ 1.65% SOUTHERN COPPER 194.16 ▲ 2.30% BUENAVENTURA 34.36 ▲ 2.80% MERCADOLIBRE 1,644 ▲ 3.45% NUBANK 12.35 ▲ 1.27% XP 15.86 ▼ 1.03% PAGSEGURO 8.92 ▼ 0.50% STONE 11.02 ▼ 2.18% GLOBANT 37.04 ▼ 1.20% TECNOGLASS 44.30 ▲ 1.16% GAP AIRPORT 248.77 ▲ 5.02% ASUR 301.33 ▲ 4.96% OMA AIRPORT 109.37 ▲ 7.47% AMX ADR 27.23 ▼ 1.89% FEMSA ADR 126.25 ▼ 2.41% CEMEX ADR 13.03 ▲ 0.39% PETROBRAS ADR 17.37 ▼ 5.52% VALE ADR 16.15 ▲ 2.77% ITAU ADR 7.94 ▼ 0.69% SANTANDER BR 5.40 ▼ 0.46% AMBEV ADR 3.25 ▲ 0.00% CSN 1.24 ▲ 1.23% GERDAU 4.66 ▼ 1.80% LATAM ADR 55.99 ▲ 5.15% BTC 66,809 ▲ 1.67% ETH 1,829 ▲ 6.07% SOL 75.59 ▲ 6.22% XRP 1.28 ▲ 8.05% BNB 622.60 ▲ 1.06% ADA 0.19 ▲ 2.85% DOGE 0.09 ▲ 0.75% AVAX 7.01 ▲ 3.46% LINK 8.48 ▲ 3.82% DOT 1.03 ▲ 3.87% LTC 45.82 ▲ 1.02% BCH 224.42 ▲ 6.86% TRX 0.32 ▼ 0.16% XLM 0.22 ▲ 15.11% HBAR 0.08 ▲ 2.68% NEAR 2.50 ▲ 12.74% ATOM 1.98 ▼ 1.44% AAVE 75.89 ▲ 11.20% SELIC 14.50% EMBRAER 77.93 ▲ 6.97% EMBRAER ADR 61.60 ▲ 6.57% JBS 12.20 ▼ 2.75% JBS BDR 61.66 ▼ 2.10% MBRF3 15.81 ▼ 1.13% MBRFY 3.05 ▲ 1.67% INTER 5.84 ▲ 1.13% EGX 52,307 ▲ 0.60% USD/ZAR 16.20 ▼ 0.48% USD/NGN 1,356 ▼ 0.27% NIKKEI 69,318 ▲ 4.99% CSI300 4,892 ▲ 2.39% HSI 24,843 ▲ 0.50% NIFTY 23,854 ▲ 0.98% KOSPI 8,546 ▲ 5.20% JCI 6,255 ▲ 4.12% USD/JPY 160.29 ▲ 0.07% USD/CNY 6.7565 ▼ 0.08% DAX 24,894 ▲ 1.05% CAC 8,384 ▲ 0.40% FTSE 10,431 ▼ 0.39% MIB 51,836 ▲ 2.64% IBEX 19,032 ▲ 1.43% STOXX 634.44 ▲ 0.19% EUR/USD 1.1601 ▲ 0.24% GBP/USD 1.3424 ▲ 0.13% SPX 7,558 ▲ 1.71% DJI 51,787 ▲ 1.14% NDX 30,517 ▲ 2.97% RUT 2,972 ▲ 1.73% TSX 35,189 ▲ 0.72% VIX 16.24 ▼ 16.46% USD/CAD 1.3985 ▼ 0.01% US10Y 4.4710 ▼ 0.36% IBOV 170,630 ▼ 0.29% IPSA 10,932 ▲ 0.08% IPC MEX 68,481 ▲ 0.78% MERVAL 3,352,708 ▼ 0.01% COLCAP 2,386.78 ▲ 1.53% BVL PERÚ 56,321.11 ▲ 7.67% USD/BRL 5.07 ▲ 0.08% USD/MXN 17.20 ▲ 0.04% USD/CLP 888.99 ▼ 1.15% USD/COP 3,490 ▲ 0.00% USD/PEN 3.39 ▼ 0.24% USD/ARS 1,429 ▼ 0.05% USD/UYU 40.35 ▼ 0.47% USD/PYG 6,094 — 0.00% USD/BOB 6.86 ▲ 0.15% USD/DOP 58.90 ▲ 0.37% USD/CRC 452.40 ▲ 0.13% USD/GTQ 7.61 ▼ 0.01% USD/HNL 26.66 ▲ 0.01% USD/NIO 36.62 — 0.00% USD/VES 585.94 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.29 ▲ 0.46% USD/TTD 6.76 ▲ 1.44% EUR/BRL 5.88 ▲ 0.00% BRENT 83.13 ▼ 4.81% WTI 80.57 ▼ 5.08% IRON ORE 161.91 — — COPPER 6.50 ▲ 1.03% GOLD 4,348 ▲ 3.16% SILVER 70.29 ▲ 3.58% SOY 1,135 ▲ 1.89% CORN 415.50 ▲ 0.67% WHEAT 590.00 ▲ 0.94% COFFEE 259.10 ▲ 0.74% SUGAR 14.16 ▲ 3.36% ORANGE JUICE 154.05 ▼ 5.66% COTTON 76.76 ▲ 5.24% COCOA 3,998 ▲ 5.80% BEEF 243.38 ▼ 2.60% CATTLE 361.38 ▲ 1.11% LITHIUM 84.07 ▲ 2.06% PETR4 39.23 ▼ 4.74% VALE3 81.85 ▲ 3.39% ITUB4 40.49 ▼ 0.27% BBDC4 17.64 ▼ 0.90% ABEV3 16.58 ▼ 0.18% BBAS3 19.39 ▼ 0.36% B3SA3 15.14 ▼ 0.59% WEGE3 42.85 ▲ 0.56% PRIO3 57.18 ▼ 6.78% SUZB3 42.85 ▲ 3.20% RENT3 40.60 ▼ 0.25% AZZA3 17.27 ▲ 0.47% CSAN3 3.24 ▼ 2.99% RAIZ4 0.42 ▼ 2.33% PCAR3 1.75 ▲ 12.90% GMAT3 3.99 ▲ 0.76% PSSA3 49.81 ▼ 1.35% CVCB3 1.38 ▼ 0.72% POSI3 3.69 ▲ 1.37% SLCE3 14.22 ▼ 0.21% NATU3 8.50 ▼ 0.70% BRKM5 9.13 ▲ 0.33% RANI3 7.90 ▼ 0.63% CSNA3 6.17 ▲ 1.98% CMIN3 4.43 ▲ 3.02% USIM5 11.04 ▲ 1.75% GGBR4 23.52 ▼ 1.51% ENEV3 24.59 ▲ 0.20% NEOE3 33.80 — 0.00% CPFE3 44.09 ▼ 0.74% CMIG4 10.73 — 0.00% EQTL3 38.29 ▼ 1.24% LREN3 15.30 ▼ 0.52% VIVT3 33.42 ▼ 0.33% RAIL3 13.27 ▼ 0.67% KLABIN 17.19 ▲ 1.84% RAIA DROGASIL 17.35 ▼ 0.63% RDOR3 34.18 ▲ 0.29% HAPV3 11.39 ▼ 0.09% FLRY3 14.87 ▼ 2.04% SMTO3 16.15 ▲ 2.22% UGPA3 23.99 ▼ 3.27% VBBR3 28.75 ▼ 1.37% BBSE3 37.74 ▼ 0.34% BPAC11 51.14 ▲ 1.49% CURY3 32.89 ▲ 2.43% AERI3 2.32 ▼ 0.43% VIVARA 21.55 ▲ 1.03% COMPASS 25.36 ▲ 0.28% VAMOS 3.01 ▼ 0.66% SANB11 27.04 ▼ 0.33% ASAI3 7.98 ▼ 1.48% SBSP3 27.88 ▲ 1.23% WALMEX 52.79 ▲ 1.36% GMEXICO 214.03 ▲ 2.07% FEMSA 217.37 ▼ 2.37% CEMEX 22.38 ▲ 0.04% GFNORTE 189.90 ▲ 0.66% BIMBO 58.21 ▲ 0.10% TELEVISA 10.06 ▲ 1.11% AMX 23.44 ▼ 1.84% GAP 427.39 ▲ 4.56% ASUR 301.33 ▲ 4.96% OMA 234.59 ▲ 7.00% KOF 184.44 ▼ 1.88% GRUMA 292.97 ▼ 1.04% KIMBER 37.63 ▲ 0.37% SQM-B 73,980 ▼ 2.01% COPEC 6,089 ▼ 0.50% BSANTANDER 73.75 ▲ 0.20% FALABELLA 5,962 ▲ 0.20% ENELAM 78.64 ▼ 1.17% CENCOSUD 2,291 ▲ 1.91% CMPC 1,063 ▲ 0.28% BANCO CHILE 181.60 ▼ 0.22% LATAM AIR 24.94 ▲ 4.18% YPF 83,400 ▼ 0.36% GGAL 8,210 ▼ 0.73% PAMPA 5,290 ▼ 0.28% TXAR 694.00 ▼ 0.93% ALUAR 1,029 ▲ 0.19% TGS 9,875 ▼ 0.25% CEPU 2,371 ▼ 1.00% MIRGOR 17,150 ▼ 0.72% COME 44.98 ▼ 2.34% LOMA NEGRA 3,750 — 0.00% BYMA 305.50 ▲ 0.74% TELECOM ARG 4,570 ▼ 3.89% ECOPETROL 15.65 ▼ 5.61% BANCOLOMBIA 81.73 ▲ 1.90% GRUPO AVAL 5.40 ▼ 2.70% CREDICORP 363.45 ▼ 1.65% SOUTHERN COPPER 194.16 ▲ 2.30% BUENAVENTURA 34.36 ▲ 2.80% MERCADOLIBRE 1,644 ▲ 3.45% NUBANK 12.35 ▲ 1.27% XP 15.86 ▼ 1.03% PAGSEGURO 8.92 ▼ 0.50% STONE 11.02 ▼ 2.18% GLOBANT 37.04 ▼ 1.20% TECNOGLASS 44.30 ▲ 1.16% GAP AIRPORT 248.77 ▲ 5.02% ASUR 301.33 ▲ 4.96% OMA AIRPORT 109.37 ▲ 7.47% AMX ADR 27.23 ▼ 1.89% FEMSA ADR 126.25 ▼ 2.41% CEMEX ADR 13.03 ▲ 0.39% PETROBRAS ADR 17.37 ▼ 5.52% VALE ADR 16.15 ▲ 2.77% ITAU ADR 7.94 ▼ 0.69% SANTANDER BR 5.40 ▼ 0.46% AMBEV ADR 3.25 ▲ 0.00% CSN 1.24 ▲ 1.23% GERDAU 4.66 ▼ 1.80% LATAM ADR 55.99 ▲ 5.15% BTC 66,809 ▲ 1.67% ETH 1,829 ▲ 6.07% SOL 75.59 ▲ 6.22% XRP 1.28 ▲ 8.05% BNB 622.60 ▲ 1.06% ADA 0.19 ▲ 2.85% DOGE 0.09 ▲ 0.75% AVAX 7.01 ▲ 3.46% LINK 8.48 ▲ 3.82% DOT 1.03 ▲ 3.87% LTC 45.82 ▲ 1.02% BCH 224.42 ▲ 6.86% TRX 0.32 ▼ 0.16% XLM 0.22 ▲ 15.11% HBAR 0.08 ▲ 2.68% NEAR 2.50 ▲ 12.74% ATOM 1.98 ▼ 1.44% AAVE 75.89 ▲ 11.20% SELIC 14.50% EMBRAER 77.93 ▲ 6.97% EMBRAER ADR 61.60 ▲ 6.57% JBS 12.20 ▼ 2.75% JBS BDR 61.66 ▼ 2.10% MBRF3 15.81 ▼ 1.13% MBRFY 3.05 ▲ 1.67% INTER 5.84 ▲ 1.13% EGX 52,307 ▲ 0.60% USD/ZAR 16.20 ▼ 0.48% USD/NGN 1,356 ▼ 0.27% NIKKEI 69,318 ▲ 4.99% CSI300 4,892 ▲ 2.39% HSI 24,843 ▲ 0.50% NIFTY 23,854 ▲ 0.98% KOSPI 8,546 ▲ 5.20% JCI 6,255 ▲ 4.12% USD/JPY 160.29 ▲ 0.07% USD/CNY 6.7565 ▼ 0.08% DAX 24,894 ▲ 1.05% CAC 8,384 ▲ 0.40% FTSE 10,431 ▼ 0.39% MIB 51,836 ▲ 2.64% IBEX 19,032 ▲ 1.43% STOXX 634.44 ▲ 0.19% EUR/USD 1.1601 ▲ 0.24% GBP/USD 1.3424 ▲ 0.13% SPX 7,558 ▲ 1.71% DJI 51,787 ▲ 1.14% NDX 30,517 ▲ 2.97% RUT 2,972 ▲ 1.73% TSX 35,189 ▲ 0.72% VIX 16.24 ▼ 16.46% USD/CAD 1.3985 ▼ 0.01% US10Y 4.4710 ▼ 0.36%
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Africa Central Africa

Africa’s Arms Race: Military Spending Surges as Peace Efforts Falter

By · June 20, 2025 · 2 min read

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The Stockholm International Peace Research Institute reports African military spending reached $52.1 billion in 2024, marking a 3% increase from 2023 and a 22% rise since 2015.

This growth occurs amid record global defense expenditures of $2.7 trillion, the steepest year-on-year surge since the Cold War’s end. North Africa drives this continental trend with $30.2 billion in military outlays, representing an 8.8% increase from 2023 and a 43% jump from 2015.

Algeria leads Africa’s defense spending with $25 billion allocated to its military in 2025, consuming 21% of its entire government budget. Morocco follows with $13.4 billion, continuing their decades-long arms race fueled by tensions over Western Sahara.

Together, these North African rivals account for 90% of their region’s defense spending. Meanwhile, conflicts intensify across the continent.

The M23 rebel group, backed by Rwanda, captured major Congolese cities including Goma and Bukavu in March 2025, pushing deeper into mineral-rich territories. The Democratic Republic of Congo offered $5 million for M23 leaders’ arrest, highlighting the conflict’s escalation.

Africa's Arms Race: Military Spending Surges as Peace Efforts Falter
Africa’s Arms Race: Military Spending Surges as Peace Efforts Falter. (Photo Internet reproduction)
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Uganda simultaneously seized Bunia, a city of 900,000 residents, ostensibly to counter Allied Democratic Forces militants. South Sudan teeters on the brink of renewed civil war.

President Salva Kiir placed First Vice President Riek Machar under house arrest amid economic crisis after Sudan’s conflict damaged South Sudan’s vital oil export pipeline. The government cannot pay military salaries or provide patronage payments to its political inner circle.

Ethiopia faces renewed tensions in Tigray, where forces linked to the Tigray People’s Liberation Front launched attacks against the government-appointed Tigray Interim Administration.

Eritrea reportedly supports dissident TPLF factions, potentially undermining Ethiopia’s regional ambitions. Russia maintains its African footprint despite Wagner Group’s official exit from Mali after three years.

The Kremlin-controlled Africa Corps now replaces these mercenaries, focusing on training and logistics rather than direct combat. This strategic shift preserves Russian influence as Western powers reassess their continental roles.

Peacebuilding efforts face severe funding shortfalls. The new AU Support and Stabilization Mission in Somalia (AUSSOM) requires $166.5 million for 2025-2026 but has secured only $16.7 million.

The mission also inherited $93.9 million in outstanding liabilities to troop-contributing countries from its predecessor mission. The cost of conflict devastates African development.

Between 1990 and 2005, conflicts cost Africa approximately $300 billion—equal to international aid received during the same period. On average, armed conflict shrinks an African economy by 15%, with the continent losing around $18 billion annually.

Military spending contributes significantly to external debt, particularly during post-war periods when debt accumulation accelerates fastest. This militarization-development tradeoff undermines Africa’s economic potential.

Evidence shows military-political power damages democracy and development across the continent. Corruption flourishes in militarized nations, worsening political and economic instability through human rights violations.

Part of our ongoing coverage

Africa: The New Scramble — the great-power contest over the continent.

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