IBOV 172,758.89 ▼ 0.35% IPSA 10,877.68 ▼ 0.18% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,281,489 ▲ 1.79% COLCAP 2,309.56 ▲ 0.49% BVL PERÚ 56,620.35 — — USD/BRL5.08▼ 0.26% USD/MXN17.40▼ 0.19% USD/CLP932.22▼ 0.24% USD/COP3,232▼ 1.12% USD/PEN3.40▲ 0.16% USD/ARS1,478▼ 0.24% USD/UYU40.11▲ 1.23% USD/PYG6,045▲ 1.76% USD/BOB10.80▲ 2.69% USD/DOP58.02▲ 0.31% USD/CRC446.12▲ 1.15% USD/GTQ7.62▲ 2.33% USD/HNL26.74▲ 1.61% USD/NIO36.62▲ 0.84% USD/VES735.39▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.79▲ 0.73% USD/TTD6.73▲ 1.11% EUR/BRL5.79▼ 1.07% BRENT 91.54 ▲ 2.60% WTI 84.60 ▲ 1.65% IRON ORE 161.91 — — COPPER 6.53 ▲ 3.67% GOLD 4,075 ▲ 1.61% SILVER 59.34 ▲ 4.47% SOY 1,219 ▼ 0.61% CORN 472.50 ▲ 5.12% WHEAT 668.75 ▼ 0.78% COFFEE 326.10 ▼ 2.48% SUGAR 14.84 ▲ 0.13% ORANGE JUICE 147.95 ▲ 0.37% COTTON 79.51 ▲ 2.77% COCOA 5,627 ▲ 1.94% BEEF 222.08 ▼ 1.96% CATTLE 343.50 ▼ 2.41% LITHIUM 69.16 ▲ 3.35% PETR4 41.50 ▲ 0.85% VALE3 71.92 ▼ 0.01% ITUB4 42.23 ▼ 0.17% BBDC4 18.42 ▲ 0.05% ABEV3 15.75 ▼ 0.25% BBAS3 20.21 ▲ 0.20% B3SA3 14.98 ▼ 1.83% WEGE3 42.72 ▼ 0.95% PRIO3 58.87 ▲ 2.05% SUZB3 41.76 ▼ 0.31% RENT3 36.68 ▼ 2.16% AZZA3 17.58 ▼ 3.25% CSAN3 3.72 ▼ 2.62% RAIZ4 0.27 — 0.00% PCAR3 2.68 ▲ 3.08% GMAT3 3.80 ▼ 1.30% PSSA3 53.19 ▼ 1.86% CVCB3 1.14 ▲ 5.56% POSI3 3.75 ▲ 1.35% SLCE3 13.67 ▲ 0.74% NATU3 8.66 ▲ 0.35% BRKM5 5.95 ▲ 0.17% RANI3 7.86 ▼ 1.63% CSNA3 5.11 ▲ 0.79% CMIN3 5.50 ▲ 2.04% USIM5 8.28 ▲ 1.47% GGBR4 23.59 ▼ 0.13% ENEV3 25.16 ▼ 1.91% CPFE3 46.14 ▼ 0.39% CMIG4 10.96 ▼ 0.54% EQTL3 38.53 ▼ 1.93% LREN3 13.12 ▼ 1.43% VIVT3 35.44 ▼ 0.64% RAIL3 13.29 ▼ 2.06% KLABIN 17.40 ▼ 0.46% RAIA DROGASIL 18.39 ▼ 1.61% RDOR3 33.89 ▼ 4.40% HAPV3 11.30 ▼ 2.16% FLRY3 16.37 ▼ 1.15% SMTO3 15.34 ▼ 0.45% UGPA3 31.21 ▼ 1.55% VBBR3 33.03 ▼ 3.17% BBSE3 41.10 ▲ 0.12% BPAC11 55.41 ▼ 0.77% CURY3 29.56 ▼ 2.09% AERI3 2.02 ▼ 2.42% VIVARA 21.59 ▼ 1.68% COMPASS 24.31 ▼ 1.18% VAMOS 3.09 — 0.00% SANB11 27.45 ▲ 1.63% ASAI3 8.13 ▼ 0.12% SBSP3 28.31 ▼ 2.31% WALMEX 49.36 ▼ 0.04% GMEXICO 204.21 ▲ 1.68% FEMSA 226.86 ▼ 0.05% CEMEX 22.04 ▲ 0.73% GFNORTE 182.02 ▲ 1.12% BIMBO 59.33 ▼ 0.29% TELEVISA 9.82 ▲ 1.13% AMX 22.77 ▲ 0.13% GAP 376.91 ▼ 0.34% ASUR 271.16 ▼ 1.17% OMA 224.94 ▼ 0.66% KOF 180.71 ▼ 0.06% GRUMA 288.17 ▲ 0.20% KIMBER 38.10 ▼ 0.76% SQM-B 63,950 ▲ 1.31% COPEC 6,364 ▲ 2.65% BSANTANDER 78.51 ▲ 3.18% FALABELLA 5,839 ▼ 0.61% ENELAM 84.42 ▲ 0.37% CENCOSUD 2,005 ▲ 0.51% CMPC 1,089 ▲ 2.11% BANCO CHILE 189.96 ▲ 1.86% LATAM AIR 24.41 — 0.00% YPF 80,700 ▲ 1.89% GGAL 7,965 ▲ 1.53% PAMPA 5,485 ▲ 4.08% TXAR 670.00 ▼ 0.07% ALUAR 967.50 ▲ 0.83% TGS 9,565 ▲ 0.68% CEPU 2,330 ▲ 1.79% MIRGOR 16,725 ▼ 2.34% COME 43.26 ▲ 0.72% LOMA NEGRA 3,630 ▲ 1.61% BYMA 292.25 ▼ 0.51% TELECOM ARG 4,180 ▲ 0.84% ECOPETROL 16.50 ▲ 2.93% BANCOLOMBIA 81.70 ▲ 1.08% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 392.71 ▲ 1.51% SOUTHERN COPPER 182.87 ▲ 4.46% BUENAVENTURA 30.85 ▲ 2.63% MERCADOLIBRE 1,800 ▼ 1.78% NUBANK 14.11 ▲ 0.86% XP 16.45 ▼ 2.08% PAGSEGURO 9.24 ▼ 0.59% STONE 10.92 ▼ 1.84% GLOBANT 32.35 ▲ 0.17% TECNOGLASS 45.22 ▼ 1.93% GAP AIRPORT 216.32 ▼ 0.37% ASUR 271.16 ▼ 1.17% OMA AIRPORT 103.45 ▼ 0.54% AMX ADR 26.11 ▲ 0.02% FEMSA ADR 130.32 ▲ 0.24% CEMEX ADR 12.63 ▲ 1.12% PETROBRAS ADR 18.43 ▲ 1.29% VALE ADR 14.12 ▲ 0.11% ITAU ADR 8.32 — 0.00% SANTANDER BR 5.41 ▲ 0.74% AMBEV ADR 3.09 ▲ 0.32% CSN 1.02 ▲ 0.50% GERDAU 4.68 ▼ 0.11% LATAM ADR 52.36 ▲ 1.20% BTC 66,710 ▲ 2.27% ETH 1,929 ▲ 1.31% SOL 78.00 ▲ 0.27% XRP 1.15 ▲ 3.49% BNB 575.31 ▲ 0.80% ADA 0.18 ▲ 3.48% DOGE 0.07 ▲ 1.55% AVAX 6.60 ▲ 0.36% LINK 8.68 ▲ 1.12% DOT 0.86 ▲ 3.74% LTC 47.86 ▲ 1.10% BCH 224.90 ▲ 2.27% TRX 0.33 ▲ 0.63% XLM 0.19 ▲ 3.00% HBAR 0.07 ▲ 2.81% NEAR 1.97 ▼ 0.64% ATOM 1.50 ▲ 0.13% AAVE 94.79 ▲ 5.59% SELIC 14.25% EMBRAER 82.12 ▼ 1.40% EMBRAER ADR 64.67 ▼ 1.91% JBS 11.80 ▼ 1.95% JBS BDR 59.94 ▼ 1.40% MBRF3 14.77 ▲ 1.72% MBRFY 2.94 ▲ 1.03% INTER 5.52 ▼ 1.87% EGX 53,990 ▲ 1.63% USD/ZAR16.45▼ 0.48% USD/NGN1,376▼ 0.27% NIKKEI 66,232 ▲ 3.26% CSI300 4,739 ▲ 3.06% HSI 25,132 ▼ 0.04% NIFTY 24,188 ▼ 0.21% KOSPI 6,748 ▲ 3.56% JCI 6,340 ▲ 1.74% USD/JPY162.94▲ 0.27% USD/CNY6.76▼ 0.17% DAX 24,946 ▲ 0.40% CAC 8,341 ▲ 0.01% FTSE 10,562 ▲ 0.35% MIB 52,214 ▲ 0.68% IBEX 19,338 ▲ 0.68% STOXX 641.82 ▲ 0.35% EUR/USD1.14▼ 0.03% GBP/USD1.34▼ 0.51% SPX 7,493 ▲ 0.66% DJI 52,105 ▲ 0.51% NDX 29,069 ▲ 1.63% RUT 2,966 ▲ 0.81% TSX 35,127 ▲ 0.48% VIX 17.42 ▼ 6.60% USD/CAD1.41▲ 0.18% US10Y 4.6240 ▲ 0.57% IBOV 172,758.89 ▼ 0.35% IPSA 10,877.68 ▼ 0.18% IPC MEX 66,125.27 ▼ 0.74% MERVAL 3,281,489 ▲ 1.79% COLCAP 2,309.56 ▲ 0.49% BVL PERÚ 56,620.35 — — USD/BRL 5.08 ▼ 0.26% USD/MXN 17.40 ▼ 0.19% USD/CLP 932.22 ▼ 0.24% USD/COP 3,232 ▼ 1.12% USD/PEN 3.40 ▲ 0.16% USD/ARS 1,478 ▼ 0.24% USD/UYU 40.11 ▲ 1.23% USD/PYG 6,045 ▲ 1.76% USD/BOB 10.80 ▲ 2.69% USD/DOP 58.02 ▲ 0.31% USD/CRC 446.12 ▲ 1.15% USD/GTQ 7.62 ▲ 2.33% USD/HNL 26.74 ▲ 1.61% USD/NIO 36.62 ▲ 0.84% USD/VES 735.39 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.79 ▲ 0.73% USD/TTD 6.73 ▲ 1.11% EUR/BRL 5.79 ▼ 1.07% BRENT 91.54 ▲ 2.60% WTI 84.60 ▲ 1.65% IRON ORE 161.91 — — COPPER 6.53 ▲ 3.67% GOLD 4,075 ▲ 1.61% SILVER 59.34 ▲ 4.47% SOY 1,219 ▼ 0.61% CORN 472.50 ▲ 5.12% WHEAT 668.75 ▼ 0.78% COFFEE 326.10 ▼ 2.48% SUGAR 14.84 ▲ 0.13% ORANGE JUICE 147.95 ▲ 0.37% COTTON 79.51 ▲ 2.77% COCOA 5,627 ▲ 1.94% BEEF 222.08 ▼ 1.96% CATTLE 343.50 ▼ 2.41% LITHIUM 69.16 ▲ 3.35% PETR4 41.50 ▲ 0.85% VALE3 71.92 ▼ 0.01% ITUB4 42.23 ▼ 0.17% BBDC4 18.42 ▲ 0.05% ABEV3 15.75 ▼ 0.25% BBAS3 20.21 ▲ 0.20% B3SA3 14.98 ▼ 1.83% WEGE3 42.72 ▼ 0.95% PRIO3 58.87 ▲ 2.05% SUZB3 41.76 ▼ 0.31% RENT3 36.68 ▼ 2.16% AZZA3 17.58 ▼ 3.25% CSAN3 3.72 ▼ 2.62% RAIZ4 0.27 — 0.00% PCAR3 2.68 ▲ 3.08% GMAT3 3.80 ▼ 1.30% PSSA3 53.19 ▼ 1.86% CVCB3 1.14 ▲ 5.56% POSI3 3.75 ▲ 1.35% SLCE3 13.67 ▲ 0.74% NATU3 8.66 ▲ 0.35% BRKM5 5.95 ▲ 0.17% RANI3 7.86 ▼ 1.63% CSNA3 5.11 ▲ 0.79% CMIN3 5.50 ▲ 2.04% USIM5 8.28 ▲ 1.47% GGBR4 23.59 ▼ 0.13% ENEV3 25.16 ▼ 1.91% CPFE3 46.14 ▼ 0.39% CMIG4 10.96 ▼ 0.54% EQTL3 38.53 ▼ 1.93% LREN3 13.12 ▼ 1.43% VIVT3 35.44 ▼ 0.64% RAIL3 13.29 ▼ 2.06% KLABIN 17.40 ▼ 0.46% RAIA DROGASIL 18.39 ▼ 1.61% RDOR3 33.89 ▼ 4.40% HAPV3 11.30 ▼ 2.16% FLRY3 16.37 ▼ 1.15% SMTO3 15.34 ▼ 0.45% UGPA3 31.21 ▼ 1.55% VBBR3 33.03 ▼ 3.17% BBSE3 41.10 ▲ 0.12% BPAC11 55.41 ▼ 0.77% CURY3 29.56 ▼ 2.09% AERI3 2.02 ▼ 2.42% VIVARA 21.59 ▼ 1.68% COMPASS 24.31 ▼ 1.18% VAMOS 3.09 — 0.00% SANB11 27.45 ▲ 1.63% ASAI3 8.13 ▼ 0.12% SBSP3 28.31 ▼ 2.31% WALMEX 49.36 ▼ 0.04% GMEXICO 204.21 ▲ 1.68% FEMSA 226.86 ▼ 0.05% CEMEX 22.04 ▲ 0.73% GFNORTE 182.02 ▲ 1.12% BIMBO 59.33 ▼ 0.29% TELEVISA 9.82 ▲ 1.13% AMX 22.77 ▲ 0.13% GAP 376.91 ▼ 0.34% ASUR 271.16 ▼ 1.17% OMA 224.94 ▼ 0.66% KOF 180.71 ▼ 0.06% GRUMA 288.17 ▲ 0.20% KIMBER 38.10 ▼ 0.76% SQM-B 63,950 ▲ 1.31% COPEC 6,364 ▲ 2.65% BSANTANDER 78.51 ▲ 3.18% FALABELLA 5,839 ▼ 0.61% ENELAM 84.42 ▲ 0.37% CENCOSUD 2,005 ▲ 0.51% CMPC 1,089 ▲ 2.11% BANCO CHILE 189.96 ▲ 1.86% LATAM AIR 24.41 — 0.00% YPF 80,700 ▲ 1.89% GGAL 7,965 ▲ 1.53% PAMPA 5,485 ▲ 4.08% TXAR 670.00 ▼ 0.07% ALUAR 967.50 ▲ 0.83% TGS 9,565 ▲ 0.68% CEPU 2,330 ▲ 1.79% MIRGOR 16,725 ▼ 2.34% COME 43.26 ▲ 0.72% LOMA NEGRA 3,630 ▲ 1.61% BYMA 292.25 ▼ 0.51% TELECOM ARG 4,180 ▲ 0.84% ECOPETROL 16.50 ▲ 2.93% BANCOLOMBIA 81.70 ▲ 1.08% GRUPO AVAL 4.99 ▲ 0.81% CREDICORP 392.71 ▲ 1.51% SOUTHERN COPPER 182.87 ▲ 4.46% BUENAVENTURA 30.85 ▲ 2.63% MERCADOLIBRE 1,800 ▼ 1.78% NUBANK 14.11 ▲ 0.86% XP 16.45 ▼ 2.08% PAGSEGURO 9.24 ▼ 0.59% STONE 10.92 ▼ 1.84% GLOBANT 32.35 ▲ 0.17% TECNOGLASS 45.22 ▼ 1.93% GAP AIRPORT 216.32 ▼ 0.37% ASUR 271.16 ▼ 1.17% OMA AIRPORT 103.45 ▼ 0.54% AMX ADR 26.11 ▲ 0.02% FEMSA ADR 130.32 ▲ 0.24% CEMEX ADR 12.63 ▲ 1.12% PETROBRAS ADR 18.43 ▲ 1.29% VALE ADR 14.12 ▲ 0.11% ITAU ADR 8.32 — 0.00% SANTANDER BR 5.41 ▲ 0.74% AMBEV ADR 3.09 ▲ 0.32% CSN 1.02 ▲ 0.50% GERDAU 4.68 ▼ 0.11% LATAM ADR 52.36 ▲ 1.20% BTC 66,710 ▲ 2.27% ETH 1,929 ▲ 1.31% SOL 78.00 ▲ 0.27% XRP 1.15 ▲ 3.49% BNB 575.31 ▲ 0.80% ADA 0.18 ▲ 3.48% DOGE 0.07 ▲ 1.55% AVAX 6.60 ▲ 0.36% LINK 8.68 ▲ 1.12% DOT 0.86 ▲ 3.74% LTC 47.86 ▲ 1.10% BCH 224.90 ▲ 2.27% TRX 0.33 ▲ 0.63% XLM 0.19 ▲ 3.00% HBAR 0.07 ▲ 2.81% NEAR 1.97 ▼ 0.64% ATOM 1.50 ▲ 0.13% AAVE 94.79 ▲ 5.59% SELIC 14.25% EMBRAER 82.12 ▼ 1.40% EMBRAER ADR 64.67 ▼ 1.91% JBS 11.80 ▼ 1.95% JBS BDR 59.94 ▼ 1.40% MBRF3 14.77 ▲ 1.72% MBRFY 2.94 ▲ 1.03% INTER 5.52 ▼ 1.87% EGX 53,990 ▲ 1.63% USD/ZAR 16.47 ▼ 0.16% USD/NGN 1,376 ▲ 0.02% NIKKEI 66,232 ▲ 3.26% CSI300 4,739 ▲ 3.06% HSI 25,132 ▼ 0.04% NIFTY 24,188 ▼ 0.21% KOSPI 6,748 ▲ 3.56% JCI 6,340 ▲ 1.74% USD/JPY 163.00 ▲ 0.33% USD/CNY 6.7557 ▼ 0.03% DAX 24,946 ▲ 0.40% CAC 8,341 ▲ 0.01% FTSE 10,562 ▲ 0.35% MIB 52,214 ▲ 0.68% IBEX 19,338 ▲ 0.68% STOXX 641.82 ▲ 0.35% EUR/USD 1.1409 ▼ 0.04% GBP/USD 1.3371 ▼ 0.41% SPX 7,493 ▲ 0.66% DJI 52,105 ▲ 0.51% NDX 29,069 ▲ 1.63% RUT 2,966 ▲ 0.81% TSX 35,127 ▲ 0.48% VIX 17.42 ▼ 6.60% USD/CAD 1.4091 ▲ 0.09% US10Y 4.6240 ▲ 0.57%
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Africa Northern Africa

Tebboune’s Landslide Win in Algeria Overshadowed by Low Turnout

By · September 9, 2024 · 2 min read

Africa Intelligence

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Incumbent Algerian President Abdelmadjid Tebboune has secured a second term in office with a landslide victory of 94.65% of the votes in the presidential election held on September 7, 2024.

This overwhelming victory, announced by the Independent National Election Authority (ANIE), comes despite concerns over low voter turnout and allegations of electoral fraud.

The official voter turnout was reported at 23.3%, a significant drop from the 39.88% recorded in the 2019 election. This figure represents less than a quarter of the country’s 24.3 million eligible voters.

The participation rate was particularly low among young people and in urban areas, reflecting a growing disenchantment with the political process.

Candidates and Opposition

Tebboune's Landslide Win in Algeria Overshadowed by Low Turnout
Tebboune’s Landslide Win in Algeria Overshadowed by Low Turnout. (Photo Internet reproduction)
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Tebboune faced two main challengers in this election:

1. Abdelaali Hassani Cherif, leader of the Movement of Society for Peace, Algeria’s largest Islamist party

2. Youcef Aouchiche, the first secretary of the Socialist Forces Front, the oldest opposition party in the country.

These candidates received 3.18% and 2.17% of the votes, respectively.

Electoral Process and Allegations

The election was overseen by ANIE, led by Mohamed Charfi. However, there were allegations of “violations” and accusations that the regime had inflated the results.

All three candidates, including Tebboune, joined in criticizing the election authority for announcing contradictory results.

International organizations, including Amnesty International, criticized the repressive atmosphere during the campaign season. They also condemned the harassment of opposition parties, media organizations, and civil society groups.

Political Context and Implications

Tebboune’s re-election is seen as a continuation of the status quo in Algeria’s political landscape.

His first term began in 2019, following the ouster of long-time president Abdelaziz Bouteflika amid widespread pro-democracy protests known as the Hirak movement.

The president enjoys strong support from the country’s powerful security apparatus and major political parties.

However, his legitimacy is challenged by the low voter turnout and ongoing economic and social issues facing the country.

Economic Promises and Challenges

During his campaign, Tebboune promised to boost the economy by revaluing salaries and pensions, building new homes, creating jobs, and making Algeria the “second economy in Africa” behind South Africa.

These promises come as Algeria benefits from increased oil and gas revenues due to global market conditions.

International Reactions and Future Outlook

The international community has largely remained silent on the election results. However, analysts suggest that Tebboune will need to address the country’s democratic deficit.

He will also need to make significant changes to his governance approach to maintain stability and address the population’s concerns.

As Algeria moves forward under Tebboune’s second term, the country faces challenges in balancing economic development, political reform, and social stability.

The low voter turnout and allegations of fraud highlight the ongoing struggle for genuine democratic representation in the North African nation.

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