IBOV 175,017.19 ▼ 0.56% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,249,524 ▼ 1.27% COLCAP 2,268.93 ▼ 1.01% BVL PERÚ 57,112.22 — — USD/BRL5.10▲ 0.38% USD/MXN17.44▲ 0.33% USD/CLP927.20▲ 0.13% USD/COP3,221▼ 1.20% USD/PEN3.39▲ 0.29% USD/ARS1,474▼ 0.14% USD/UYU40.18▲ 1.21% USD/PYG6,030▲ 1.35% USD/BOB10.63▲ 3.73% USD/DOP58.14▼ 0.19% USD/CRC447.87▲ 1.07% USD/GTQ7.62▲ 2.25% USD/HNL26.73▲ 0.09% USD/NIO36.62▲ 0.34% USD/VES725.63▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.49▲ 0.31% USD/TTD6.75▲ 1.34% EUR/BRL5.83▲ 0.40% BRENT 84.87 ▼ 0.09% WTI 78.88 ▼ 0.90% IRON ORE 161.91 — — COPPER 6.35 ▲ 0.82% GOLD 3,993 ▼ 1.27% SILVER 56.31 ▼ 1.41% SOY 1,196 ▼ 0.50% CORN 463.25 ▲ 3.52% WHEAT 671.75 ▼ 0.85% COFFEE 312.25 ▼ 6.64% SUGAR 14.50 ▼ 2.36% ORANGE JUICE 134.40 ▼ 3.20% COTTON 79.07 ▼ 1.85% COCOA 5,369 ▼ 6.41% BEEF 222.70 ▼ 3.23% CATTLE 344.60 ▼ 1.53% LITHIUM 69.01 ▼ 2.88% PETR4 40.70 ▲ 0.27% VALE3 72.91 ▼ 2.15% ITUB4 42.62 ▼ 1.21% BBDC4 18.35 ▼ 1.34% ABEV3 15.70 ▲ 0.83% BBAS3 20.56 ▲ 0.05% B3SA3 15.34 ▼ 2.23% WEGE3 43.80 ▼ 1.04% PRIO3 57.83 ▲ 0.57% SUZB3 42.06 ▲ 1.40% RENT3 39.56 ▼ 1.96% AZZA3 18.59 ▼ 0.38% CSAN3 3.92 ▼ 0.25% RAIZ4 0.30 ▲ 3.45% PCAR3 2.69 ▲ 2.67% GMAT3 3.94 ▼ 1.01% PSSA3 55.06 ▼ 0.29% CVCB3 1.36 ▲ 1.49% POSI3 3.87 ▼ 2.03% SLCE3 13.65 ▲ 1.11% NATU3 8.59 ▼ 0.92% BRKM5 6.15 ▼ 4.06% RANI3 8.08 ▲ 1.25% CSNA3 5.18 ▼ 1.15% CMIN3 5.49 ▲ 4.77% USIM5 8.20 — 0.00% GGBR4 24.17 ▼ 0.12% ENEV3 26.13 ▼ 3.04% CPFE3 46.83 — 0.00% CMIG4 11.05 ▼ 0.90% EQTL3 39.99 ▼ 0.84% LREN3 13.78 ▼ 2.27% VIVT3 35.59 ▲ 0.34% RAIL3 14.04 ▼ 0.21% KLABIN 17.51 ▲ 0.69% RAIA DROGASIL 18.67 — 0.00% RDOR3 35.73 ▼ 0.78% HAPV3 10.72 ▼ 2.46% FLRY3 16.36 ▼ 0.91% SMTO3 15.75 ▲ 1.42% UGPA3 31.98 ▲ 2.83% VBBR3 34.38 ▲ 1.87% BBSE3 40.98 ▲ 0.66% BPAC11 56.60 ▼ 0.77% CURY3 32.03 ▼ 2.14% AERI3 2.02 — 0.00% VIVARA 23.24 ▼ 1.19% COMPASS 24.96 ▼ 0.60% VAMOS 3.19 ▲ 2.24% SANB11 26.86 ▼ 0.52% ASAI3 8.53 ▼ 1.50% SBSP3 29.85 ▼ 0.43% WALMEX 49.45 ▼ 0.50% GMEXICO 200.39 ▲ 0.09% FEMSA 224.15 ▲ 0.56% CEMEX 22.89 ▲ 1.19% GFNORTE 179.78 ▼ 2.01% BIMBO 59.15 ▲ 2.83% TELEVISA 9.51 ▼ 0.52% AMX 22.92 ▲ 0.53% GAP 392.95 ▼ 1.04% ASUR 281.96 ▼ 0.53% OMA 234.44 ▼ 0.32% KOF 179.31 ▲ 1.33% GRUMA 285.95 ▲ 1.64% KIMBER 38.72 ▲ 0.16% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 78,675 ▲ 0.16% GGAL 8,005 ▼ 2.44% PAMPA 5,135 ▼ 2.00% TXAR 667.50 ▼ 0.52% ALUAR 958.50 ▼ 0.10% TGS 9,565 ▼ 1.90% CEPU 2,298 ▼ 1.96% MIRGOR 16,700 ▼ 1.62% COME 45.00 ▼ 1.38% LOMA NEGRA 3,625 ▲ 0.35% BYMA 301.25 ▼ 0.90% TELECOM ARG 4,268 ▼ 1.10% ECOPETROL 15.98 — 0.00% BANCOLOMBIA 79.27 ▼ 2.80% GRUPO AVAL 4.99 ▼ 0.80% CREDICORP 390.86 ▼ 1.84% SOUTHERN COPPER 175.83 ▼ 3.15% BUENAVENTURA 30.11 ▼ 1.95% MERCADOLIBRE 1,844 ▲ 0.04% NUBANK 13.84 ▼ 0.32% XP 16.65 ▼ 1.33% PAGSEGURO 9.16 ▼ 0.60% STONE 11.16 ▼ 1.11% GLOBANT 32.88 ▲ 2.81% TECNOGLASS 46.93 ▲ 2.76% GAP AIRPORT 224.93 ▼ 1.26% ASUR 281.96 ▼ 0.53% OMA AIRPORT 107.63 ▼ 0.25% AMX ADR 26.22 ▲ 0.42% FEMSA ADR 128.48 ▼ 0.23% CEMEX ADR 13.13 ▲ 0.46% PETROBRAS ADR 17.73 ▼ 0.73% VALE ADR 14.25 ▼ 2.90% ITAU ADR 8.34 ▼ 1.36% SANTANDER BR 5.30 ▼ 1.03% AMBEV ADR 3.06 ▲ 0.99% CSN 1.02 ▼ 0.97% GERDAU 4.76 ▼ 0.84% LATAM ADR 53.70 ▼ 2.13% BTC 64,385 ▼ 0.51% ETH 1,875 ▼ 2.17% SOL 76.13 ▼ 1.47% XRP 1.11 ▼ 0.39% BNB 576.56 ▼ 0.61% ADA 0.16 ▼ 1.27% DOGE 0.07 ▼ 0.78% AVAX 6.61 ▼ 1.29% LINK 8.44 ▼ 1.17% DOT 0.85 ▼ 0.17% LTC 45.15 ▲ 0.06% BCH 221.52 ▼ 0.73% TRX 0.32 ▼ 0.41% XLM 0.19 ▲ 1.81% HBAR 0.07 — 0.00% NEAR 2.06 ▼ 0.39% ATOM 1.53 ▼ 1.64% AAVE 92.10 ▼ 3.89% SELIC 14.25% EMBRAER 82.79 ▲ 0.53% EMBRAER ADR 64.89 ▼ 0.02% JBS 12.25 ▲ 1.20% JBS BDR 62.40 ▲ 1.58% MBRF3 15.24 ▼ 1.04% MBRFY 2.99 ▲ 4.18% INTER 5.51 ▼ 2.05% EGX 52,928 ▲ 0.70% USD/ZAR16.42▲ 0.58% USD/NGN1,378▼ 0.12% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,073 ▼ 0.02% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY162.50▲ 0.19% USD/CNY6.76▼ 0.10% DAX 24,915 ▼ 0.34% CAC 8,378 ▼ 0.05% FTSE 10,572 ▲ 0.54% MIB 52,374 ▼ 0.07% IBEX 19,304 ▲ 0.15% STOXX 643.73 ▲ 0.16% EUR/USD1.14▼ 0.19% GBP/USD1.35▲ 0.55% SPX 7,545 ▼ 0.36% DJI 52,620 ▼ 0.07% NDX 29,110 ▼ 1.33% RUT 2,979 ▲ 0.09% TSX 35,338 ▼ 0.22% VIX 16.42 ▲ 4.79% USD/CAD1.40▲ 0.03% US10Y 4.5750 ▲ 0.66% IBOV 175,017.19 ▼ 0.56% IPSA 10,947.38 ▼ 0.70% IPC MEX 66,409.65 ▼ 0.18% MERVAL 3,249,524 ▼ 1.27% COLCAP 2,268.93 ▼ 1.01% BVL PERÚ 57,112.22 — — USD/BRL 5.10 ▲ 0.38% USD/MXN 17.44 ▲ 0.33% USD/CLP 927.65 ▲ 0.17% USD/COP 3,221 ▼ 1.20% USD/PEN 3.39 ▲ 0.29% USD/ARS 1,474 ▼ 0.14% USD/UYU 40.18 ▲ 1.21% USD/PYG 6,030 ▲ 1.35% USD/BOB 10.63 ▲ 3.73% USD/DOP 58.14 ▼ 0.19% USD/CRC 447.87 ▲ 1.07% USD/GTQ 7.62 ▲ 2.25% USD/HNL 26.73 ▲ 0.09% USD/NIO 36.62 ▲ 0.34% USD/VES 725.63 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.49 ▲ 0.31% USD/TTD 6.75 ▲ 1.34% EUR/BRL 5.83 ▲ 0.40% BRENT 84.87 ▼ 0.09% WTI 78.88 ▼ 0.90% IRON ORE 161.91 — — COPPER 6.35 ▲ 0.82% GOLD 3,993 ▼ 1.27% SILVER 56.31 ▼ 1.41% SOY 1,196 ▼ 0.50% CORN 463.25 ▲ 3.52% WHEAT 671.75 ▼ 0.85% COFFEE 312.25 ▼ 6.64% SUGAR 14.50 ▼ 2.36% ORANGE JUICE 134.40 ▼ 3.20% COTTON 79.07 ▼ 1.85% COCOA 5,369 ▼ 6.41% BEEF 222.70 ▼ 3.23% CATTLE 344.60 ▼ 1.53% LITHIUM 69.01 ▼ 2.88% PETR4 40.70 ▲ 0.27% VALE3 72.91 ▼ 2.15% ITUB4 42.62 ▼ 1.21% BBDC4 18.35 ▼ 1.34% ABEV3 15.70 ▲ 0.83% BBAS3 20.56 ▲ 0.05% B3SA3 15.34 ▼ 2.23% WEGE3 43.80 ▼ 1.04% PRIO3 57.83 ▲ 0.57% SUZB3 42.06 ▲ 1.40% RENT3 39.56 ▼ 1.96% AZZA3 18.59 ▼ 0.38% CSAN3 3.92 ▼ 0.25% RAIZ4 0.30 ▲ 3.45% PCAR3 2.69 ▲ 2.67% GMAT3 3.94 ▼ 1.01% PSSA3 55.06 ▼ 0.29% CVCB3 1.36 ▲ 1.49% POSI3 3.87 ▼ 2.03% SLCE3 13.65 ▲ 1.11% NATU3 8.59 ▼ 0.92% BRKM5 6.15 ▼ 4.06% RANI3 8.08 ▲ 1.25% CSNA3 5.18 ▼ 1.15% CMIN3 5.49 ▲ 4.77% USIM5 8.20 — 0.00% GGBR4 24.17 ▼ 0.12% ENEV3 26.13 ▼ 3.04% CPFE3 46.83 — 0.00% CMIG4 11.05 ▼ 0.90% EQTL3 39.99 ▼ 0.84% LREN3 13.78 ▼ 2.27% VIVT3 35.59 ▲ 0.34% RAIL3 14.04 ▼ 0.21% KLABIN 17.51 ▲ 0.69% RAIA DROGASIL 18.67 — 0.00% RDOR3 35.73 ▼ 0.78% HAPV3 10.72 ▼ 2.46% FLRY3 16.36 ▼ 0.91% SMTO3 15.75 ▲ 1.42% UGPA3 31.98 ▲ 2.83% VBBR3 34.38 ▲ 1.87% BBSE3 40.98 ▲ 0.66% BPAC11 56.60 ▼ 0.77% CURY3 32.03 ▼ 2.14% AERI3 2.02 — 0.00% VIVARA 23.24 ▼ 1.19% COMPASS 24.96 ▼ 0.60% VAMOS 3.19 ▲ 2.24% SANB11 26.86 ▼ 0.52% ASAI3 8.53 ▼ 1.50% SBSP3 29.85 ▼ 0.43% WALMEX 49.45 ▼ 0.50% GMEXICO 200.39 ▲ 0.09% FEMSA 224.15 ▲ 0.56% CEMEX 22.89 ▲ 1.19% GFNORTE 179.78 ▼ 2.01% BIMBO 59.15 ▲ 2.83% TELEVISA 9.51 ▼ 0.52% AMX 22.92 ▲ 0.53% GAP 392.95 ▼ 1.04% ASUR 281.96 ▼ 0.53% OMA 234.44 ▼ 0.32% KOF 179.31 ▲ 1.33% GRUMA 285.95 ▲ 1.64% KIMBER 38.72 ▲ 0.16% SQM-B 66,050 ▼ 2.72% COPEC 6,126 ▼ 1.35% BSANTANDER 78.16 ▼ 0.61% FALABELLA 5,853 ▼ 0.37% ENELAM 84.80 ▼ 1.11% CENCOSUD 2,005 ▼ 1.72% CMPC 1,074 ▼ 2.63% BANCO CHILE 188.88 ▼ 0.33% LATAM AIR 25.40 ▲ 2.01% YPF 78,675 ▲ 0.16% GGAL 8,005 ▼ 2.44% PAMPA 5,135 ▼ 2.00% TXAR 667.50 ▼ 0.52% ALUAR 958.50 ▼ 0.10% TGS 9,565 ▼ 1.90% CEPU 2,298 ▼ 1.96% MIRGOR 16,700 ▼ 1.62% COME 45.00 ▼ 1.38% LOMA NEGRA 3,625 ▲ 0.35% BYMA 301.25 ▼ 0.90% TELECOM ARG 4,268 ▼ 1.10% ECOPETROL 15.98 — 0.00% BANCOLOMBIA 79.27 ▼ 2.80% GRUPO AVAL 4.99 ▼ 0.80% CREDICORP 390.86 ▼ 1.84% SOUTHERN COPPER 175.83 ▼ 3.15% BUENAVENTURA 30.11 ▼ 1.95% MERCADOLIBRE 1,844 ▲ 0.04% NUBANK 13.84 ▼ 0.32% XP 16.65 ▼ 1.33% PAGSEGURO 9.16 ▼ 0.60% STONE 11.16 ▼ 1.11% GLOBANT 32.88 ▲ 2.81% TECNOGLASS 46.93 ▲ 2.76% GAP AIRPORT 224.93 ▼ 1.26% ASUR 281.96 ▼ 0.53% OMA AIRPORT 107.63 ▼ 0.25% AMX ADR 26.22 ▲ 0.42% FEMSA ADR 128.48 ▼ 0.23% CEMEX ADR 13.13 ▲ 0.46% PETROBRAS ADR 17.73 ▼ 0.73% VALE ADR 14.25 ▼ 2.90% ITAU ADR 8.34 ▼ 1.36% SANTANDER BR 5.30 ▼ 1.03% AMBEV ADR 3.06 ▲ 0.99% CSN 1.02 ▼ 0.97% GERDAU 4.76 ▼ 0.84% LATAM ADR 53.70 ▼ 2.13% BTC 64,385 ▼ 0.51% ETH 1,875 ▼ 2.17% SOL 76.13 ▼ 1.47% XRP 1.11 ▼ 0.39% BNB 576.56 ▼ 0.61% ADA 0.16 ▼ 1.27% DOGE 0.07 ▼ 0.78% AVAX 6.61 ▼ 1.29% LINK 8.44 ▼ 1.17% DOT 0.85 ▼ 0.17% LTC 45.15 ▲ 0.06% BCH 221.52 ▼ 0.73% TRX 0.32 ▼ 0.41% XLM 0.19 ▲ 1.81% HBAR 0.07 — 0.00% NEAR 2.06 ▼ 0.39% ATOM 1.53 ▼ 1.64% AAVE 92.10 ▼ 3.89% SELIC 14.25% EMBRAER 82.79 ▲ 0.53% EMBRAER ADR 64.89 ▼ 0.02% JBS 12.25 ▲ 1.20% JBS BDR 62.40 ▲ 1.58% MBRF3 15.24 ▼ 1.04% MBRFY 2.99 ▲ 4.18% INTER 5.51 ▼ 2.05% EGX 52,928 ▲ 0.70% USD/ZAR 16.43 ▲ 0.90% USD/NGN 1,378 ▼ 0.11% NIKKEI 66,836 ▼ 2.79% CSI300 4,698 ▼ 1.85% HSI 25,009 ▲ 1.33% NIFTY 24,073 ▼ 0.02% KOSPI 6,821 ▼ 6.37% JCI 6,108 ▲ 1.10% USD/JPY 162.51 ▲ 0.23% USD/CNY 6.7612 ▲ 0.05% DAX 24,915 ▼ 0.34% CAC 8,378 ▼ 0.05% FTSE 10,572 ▲ 0.54% MIB 52,374 ▼ 0.07% IBEX 19,304 ▲ 0.15% STOXX 643.73 ▲ 0.16% EUR/USD 1.1439 ▼ 0.25% GBP/USD 1.3469 ▼ 0.50% SPX 7,545 ▼ 0.36% DJI 52,620 ▼ 0.07% NDX 29,110 ▼ 1.33% RUT 2,979 ▲ 0.09% TSX 35,338 ▼ 0.22% VIX 16.42 ▲ 4.79% USD/CAD 1.4044 ▲ 0.05% US10Y 4.5750 ▲ 0.66%
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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

Africa Intelligence

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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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