New Africa initiative drives 112% growth in non-mining exports.

The Ministerio de Comercio, Industria y Turismo (Ministry of Trade, Industry, and Tourism) hosted the first Foro de Reencuentro Económico CELAC–África at the Ágora Convention Center in Bogotá on March 20, 2026. The event, held as part of a broader high-level forum, aimed to strengthen commercial and investment ties between Colombia and the African continent. During the proceedings, officials identified various sectors for potential growth, including jewelry, agricultural machinery, construction materials, software, digital marketing, and food and beverages.

Minister of Trade Diana Marcela Morales Rojas stated that the forum represents a strategic shift toward trade equity and shared economic opportunities. Over the past four years, the Colombian government has sought to diversify its market reach through economic diplomacy, trade missions, and the establishment of new logistical routes to Africa. Data from 2025 indicates that these efforts have resulted in a significant increase in non-mining and non-energy exports to the continent.

“We aim for this forum to mark the beginning of a new stage: one of strategic cooperation, trade with equity, and the construction of shared opportunities.” — Diana Marcela Morales Rojas, Minister of Trade, Industry, and Tourism.

According to ministry figures, non-mining exports to Africa reached $296.5 million USD in 2025, representing a 112% increase compared to 2024. In terms of volume, these shipments totaled 209,273 tons, a 226.8% rise over the previous year. These goods accounted for 46.6% of Colombia’s total exports to the continent, signaling a shift toward a more diversified export basket. Key products driving this growth include coffee, bananas, machinery, paper, and apparel.

The number of Colombian firms participating in this trade has also expanded. In 2025, 165 companies exported non-mining goods to Africa with values exceeding $10,000 USD, up from 145 companies in 2024. This 15.2% growth in participating firms underscores a transition toward higher value-added exports. Vice President Francia Márquez Mina noted that the economies of Latin America and Africa are complementary, offering potential for the development of new value chains and the utilization of strategic mineral reserves necessary for the global energy transition.

A central component of the forum was a business matchmaking event held on March 17 and 18. Preliminary results from the session show expected trade operations totaling $16 million USD. Nicolás Mejía, Vice President of Exports at ProColombia, characterized the results as a validation of the current market diversification plan. Since the beginning of the current administration, the government has implemented the Estrategia África 2022–2026 to strengthen socioeconomic relations with the region.

Through commercial intelligence analysis, the Colombian government has prioritized nine specific markets for its diplomatic and economic deployment: South Africa, Angola, Mozambique, Nigeria, Ghana, Senegal, Egypt, Tunisia, and Algeria. These nations serve as the primary focus for the continued implementation of the 2022–2026 strategy.

Above photo: MinCIT/Ricardo Báez.

Ricardo Roa was appointed CEO of Ecopetrol after serving as Colombian President Gustavo Petro’s campaign manager. The Presidential campaign is also under investigation for campaign finance violations.

The controversy surrounding the filing of charges against Ricardo Roa Barragán, president of Colombia´s oil and energy company, Ecopetrol, has taken a new turn following the leak of an internal report suggesting that more than $42 million USD may have been transferred to a private company based in the British Virgin Islands.

According to disclosed information, “the media outlet 6AM W obtained documents showing the link between the USD 42 million payment made by Ecopetrol and a company connected to Serafino Iácono,” as stated by the outlet itself.

It is important to recall that on March 11, Colombia’s Attorney General’s Office (Fiscalía General de la Nación – FGN) formally charged Ricardo Roa Barragán with the alleged crime of influence peddling by a public official. According to the accusation, the executive allegedly intervened to favor a third party (Serafino Iácono) in the assignment of a gasification project in exchange for personal benefits. The FGN stated that Roa “ordered that a specific person be assigned to a gasification project in exchange for a reduction in the price of an apartment” located in northern Bogotá. During the hearing, the executive did not accept the charges.

Regarding the leaked documents, 6AM W reports that the published material “is a memorandum produced following a communication between the lawyers of Miller & Chevallier, hired by Ecopetrol, and Charles Cain, head of the Anti-Corruption Unit for Foreign Operators at the US Securities Exchange Commission (SEC).” This suggests that the document is an internal Ecopetrol report produced in 2024.

Additionally, the report includes references to an “audit commissioned by Ecopetrol to Control Risks, which identifies Iácono as a possible beneficiary of the alleged irregular payment of $42 million USD made through a purchase option” of power generation plants linked to the company Genser, associated with the businessman.

The leaked documents can be accessed through the Caracol Radio website via “Las contradicciones de Ecopetrol y Serafino Iácono en el caso del apartamento de Roa y Termomorichal.”

For his part, Serafino Iácono issued a statement, published by La República via the social network X, in which he affirms that since April 7, 2017, he has had no relationship with the company and that the transaction in question took place in 2023, after his departure.

At this stage, although the information has been reported by the media, judicial decisions remain under the authority of Colombia’s Attorney General’s Office, which is leading the proceedings against Ricardo Roa. Iacono said that he would be filing suit against Control Risks, and hired well-known Colombian lawyer Jaime Lombana Villalba to begin the process.

For further context, readers are encouraged to consult the article “Colombia’s Top Prosecutor Charges Ecopetrol President in Alleged Influence-peddling Case,” published by Finance Colombia.

Beyond the communications previously issued and reported by Finance Colombia in the aforementioned article, no new official statements have been released by Ecopetrol’s board of directors since March 12, prior to the information leak. Finance Colombia has reached out to Iacono for comment and will report any additional information.

The investigation into Colombia’s President comes on the heels of Petro’s visit to Washington & meeting with Trump.

The Drug Enforcement Administration (DEA) has designated Colombian President Gustavo Petro as a priority target as federal prosecutors in New York investigate potential connections to narcotics trafficking organizations. Records indicate that the US Department of Justice is reviewing multiple inquiries dating back to 2022, primarily supported by information from confidential informants.

The investigations involve allegations regarding interactions with the Sinaloa cartel and the possible use of the Paz Total policy to benefit specific traffickers who reportedly contributed to the 2022 presidential campaign. Documents also mention the potential use of law enforcement assets to facilitate the transport of cocaine and fentanyl through maritime terminals. The priority target designation is applied to individuals whom the DEA identifies as having a significant influence on international narcotics distribution.

President Petro has denied any involvement with criminal organizations or the acceptance of illicit funds for his political activities. In a statement released on social media, he suggested that legal proceedings in the US would eventually disprove allegations originating from political opponents. The Embassy of Colombia in Washington stated that the reports are based on unverified and anonymous sources.

“The reported insinuations have no legal or factual basis,” stated the Embassy of Colombia in Washington.

The inquiry has expanded in recent months, with prosecutors in the Eastern and Southern Districts of New York questioning detained individuals about allegations that representatives of the administration solicited bribes in exchange for preventing extradition to the US. It has not been confirmed whether formal charges will be filed against the president, and the White House has stated it has played no role in the independent judicial process.

Portions of the DEA records cite a 2024 interview regarding allegations that former aides and officials from Ecopetrol (NYSE: EC) (BVC: ECOPETROL) were used to launder funds. Ricardo Roa, the president of Ecopetrol, has denied these claims. Simultaneously, the US Department of the Treasury previously sanctioned Petro in late 2025, citing concerns over cocaine production levels, though specific evidence was not made public at that time.

While Petro denies connections to criminal groups, it is important to note that he was a member of the homicidal M-19 guerilla group in Colombia from his teenage years until the group laid down its arms in 1987. Petro served prison time for illegal arms possession due to his activities with the M-19.

Domestic investigations in Colombia are also ongoing regarding the president’s relatives. His son, Nicolas Petro, faced charges in 2023 related to the alleged receipt of funds from a convicted trafficker. Furthermore, the president’s brother, Juan Fernando Petro, has been linked to investigations involving unauthorized negotiations with inmates at the La Picota prison regarding the Paz total framework and extradition protections.

Witnesses currently in US custody who may be relevant to the ongoing probes include former members of the Venezuelan Cartel de Los Soles and various Colombian nationals recently extradited, such as individuals associated with the La Inmaculada organization and the Clan del Golfo (Gulf Clan). Some reports suggest that sums near $500 million COP were discussed in exchange for gestores de paz (“Peace Manager”) status, though these allegations remain under judicial review.

Headline photo: Colombian President Gustavo Petro (photo César Carrión, Presidencia de Colombia)

The Justice Department is examining whether President Gustavo Petro of Colombia has ties to drug traffickers.

Though surprises are possible, polling says the front runners are Iván Cepeda, Abelardo de la Espriella, and Paloma Valencia.

The Registraduría Nacional del Estado Civil of Colombia (RNEC), the entity responsible for organizing elections in the country, reported that a total of 14 candidates have officially registered to run in the country’s presidential elections, scheduled for May 31, 2026. In this vote, citizens will elect the President and Vice President of the Republic for the 2026–2030 term.

According to the electoral authority, the candidates represent a wide range of political perspectives, from left to right, including independent candidacies running through political movements. Here the list and brief profile of the candidates:

1. Clara Eugenia López Obregón, currently a senator for the Esperanza Democrática She has served as Minister of Labor (2016–2017), acting mayor of Bogotá (2011–2012), and Bogotá’s secretary of government (2008–2010). She has been affiliated with left-wing parties and was Gustavo Petro’s vice presidential running mate in the 2010 election.
2. Óscar Mauricio Lizcano, from the FAMILIA coalition. He served as Minister of Information Technologies (2023–2025), was a senator (2010–2018), and a member of the House of Representatives (2006–2010).
3. Raúl Santiago Botero, candidate of the “Romper el Sistema” movement (Break the Establishment). An agronomist engineer and businessman from Medellín, he presents himself as an independent candidate with no prior political experience.
4. Miguel Uribe Londoño, father of the slain presidential candidate Miguel Uribe Turbay. He is running under the Colombian Democratic Party and previously served as president of the Centro Democrático party founded by Álvaro Uribe Vélez.
5. Sondra Macollins Garvin, from the movement “La Abogada de Hierro” (The Iron Lawyer) A criminal lawyer and psychologist, she presents herself as an independent candidate without political affiliations. She ran for the House of Representatives in 2022 and is known for her work in narcotrafficking and corruption cases.
6. Iván Cepeda Castro, a senator since 2014 and the official candidate of the Pacto Histórico, the same party as President Gustavo Petro. Polls project he will receive the highest vote share in the first election round. He is aligned with left-wing political ideas.
7. Abelardo de la Espriella, a lawyer with far-right positions, running for the first time under the Defensores de la Patria movement. Recent polls place him as a likely second or third contender in voter preference.
8. Claudia López Hernández, former mayor of Bogotá (2020–2023) and former senator (2014–2018), running under the centrist movement “Imparables con Claudia.” She is known for her anti-corruption agenda and secured her candidacy with more than 570,000 votes (about 9%) in recent interparty primaries.
9. Paloma Valencia Laserna, current senator and candidate of the Centro Democrático party led by Álvaro Uribe Vélez. She won the right-wing interparty primary on March 8 with more than 3 million votes. Polls place her among the top three contenders, and if she reaches a runoff, she would become the first woman in Colombia’s history to do so.

• Sergio Fajardo Valderrama, an academic and mathematician running for the Dignidad y Compromiso He served as mayor of Medellín and governor of Antioquia and is running for president for the third time.
• Roy Barreras, from the political party La Fuerza (The Force). He won the left-wing coalition primary on March 8 with the lowest vote total (257,000 votes, about 3.6%). Although currently aligned with left-wing movements and part of the Petro administration, he has previously been affiliated with right- and center-leaning parties.
• Gustavo Matamoros Camacho, of the Colombian Ecologist Party. He served in the Colombian Army for 43 years. With no prior political experience, his campaign focuses on public security.
• Luis Gilberto Murillo, who served as Minister of Foreign Affairs (2024–2025) and Colombia’s ambassador to the United States (2022–2024). A human rights advocate and Afro-Colombian leader from Chocó, he presents himself as an independent, moderate, centrist candidate.
• Carlos Eduardo Caicedo, running under the independent movement “Con Caicedo.” He was mayor of Santa Marta (2012–2015) and governor of Magdalena (2020–2023), where he built a strong base as a left-wing political leader.

The RNEC also reported that “the draw to determine the position of presidential candidates on the ballot will take place on March 25 at the Ágora Bogotá Convention Center.”

This process marks the formal start of the final phase of the presidential campaign, during which candidates will seek to consolidate support ahead of the first round on May 31. If no candidate secures an absolute majority, a runoff between the two leading candidates will be held on June 21.

Headline photo: Polling station in Colombia during last Congress elections in March 8, 2026. Photo courtesy of the Registraduría Nacional del Estado Civil.

U.S. federal prosecutors have opened preliminary criminal investigations into Colombian President Gustavo Petro over alleged links to drug traffickers and possible illicit financing of his 2022 campaign, according to a report by The New York Times.

The previously undisclosed probes are being conducted by federal prosecutors in Manhattan and Brooklyn and involve specialists in international narcotics trafficking, as well as agents from the Drug Enforcement Administration and Homeland Security Investigations, the newspaper said, citing people familiar with the matter.

Investigators are examining, among other issues, whether Petro held meetings with individuals connected to drug trafficking networks and whether his presidential campaign solicited or received donations from such actors. The two investigations are being carried out independently and remain in their early stages, with no certainty that they will lead to formal criminal charges.

There is no indication that the White House played any role in launching the investigations, according to the report. However, the inquiries emerge in a broader context of heightened tensions and fluctuating diplomacy between Bogotá and Washington.

Relations between Petro and U.S. President Donald Trump have been volatile, marked by sharp public exchanges, threats of tariffs that were never implemented, and the temporary revocation of Petro’s U.S. visa. Trump has repeatedly accused Petro of failing to curb narcotics production and has described him in highly critical terms, while Petro has denounced what he characterises as political pressure and interference.

The U.S. Treasury Department last year imposed sanctions on Petro, members of his family and senior officials, including Interior Minister Armando Benedetti, alleging links to narcotics activity. The measures, which included asset freezes and travel restrictions, were justified by Washington on the grounds that cocaine production in Colombia had reached record levels and that the government had offered concessions to armed groups involved in trafficking.

Petro has rejected those claims, insisting that his administration has strengthened seizures of cocaine and slowed the rate of expansion of coca cultivation. He has also denied any knowledge of illicit funds entering his campaign, dismissing the allegations as politically motivated attacks.

Colombia’s Attorney General  is examining charges that Petro’s son – Nicolás Petro – received money from individuals linked to illicit activities during the 2022 campaign. While his son acknowledged receiving funds that were not reported, no criminal charges have been filed against the president himself, and Petro has maintained he was unaware of the campaign “donations”.

According to the NYT, the U.S. investigations are taking place amid a broader strategy in which Washington has increasingly used legal and judicial tools to advance foreign policy objectives. Analysts say such actions could serve as leverage in bilateral relations or influence political dynamics in allied countries.

The timing of the probes is particularly sensitive, as Colombia prepares for presidential elections on May 31, with a potential runoff in June. Petro, the country’s first leftist president, is constitutionally barred from seeking re-election but has actively backed his political successor with hardleftist Iván Cepeda.

The allegations could reverberate through the electoral campaign, where relations with the United States remain a central issue. Candidates on the right have emphasised the importance of maintaining close ties with Washington, while figures on the left have framed U.S. actions as a challenge to Colombia’s sovereignty.

Despite months of tensions, diplomatic relations between the two countries have shown signs of stabilisation in recent weeks. Petro and Trump held a bilateral meeting at the White House earlier this year, which both sides described as constructive, and officials have since sought to rebuild communication channels.

Even so, uncertainty persists over the trajectory of the relationship, particularly as Washington continues to prioritise counternarcotics cooperation with Colombia, historically one of its closest partners in the region.

Petro has consistently denied any links to drug trafficking and has pointed to his government’s security strategy, which includes negotiations with armed groups and efforts to reduce violence, as evidence of a broader approach to the drug trade.

The start of U.S. investigations add a new layer of complexity to an already fraught political and diplomatic landscape, with potential implications not only for Petro’s post-presidential future but for Colombia’s ties with its most important security ally.

El Departamento de Justicia estadounidense examina si el mandatario tiene vínculos con narcotraficantes.

The charge adds to a separate investigation over alleged violations of campaign finance limits during President Gustavo Petro’s 2022 presidential campaign

Colombia’s Attorney General’s Office (Fiscalía General de la Nación – FGN) charged the president of the country’s state-controlled oil and energy company Ecopetrol (NYSE: EC’, BVC: ECOPETROL), Ricardo Roa Barragán, with the alleged crime of influence peddling by a public official. The charge was formally presented on March 11 during a public hearing.

According to the prosecutors press release, Roa “ordered that a specific person be assigned to a gasification project in exchange for a reduction in the price of an apartment” located in northern Bogotá. The Attorney General’s Office said the alleged intervention was related to the executive’s interest in acquiring the property below market value.

During the hearing, a prosecutor from the Specialized Anti-Corruption Directorate formally presented the charge. However, Roa did not accept the accusation.

The newspaper El Colombiano explained that “the filing of charges is a formal act within the criminal process through which the person under investigation is officially notified of their link to a judicial case and the facts attributed to them. However, this step does not imply a conviction or a final decision and maintains the presumption of innocence that protects the executive.”

After the judicial decision became public, Ecopetrol’s Board of Directors said Roa will remain in his position as president of the company. In a public statement, the company’s highest governing body said it respects “Ricardo Roa’s presumption of innocence and his right to due process.” It also said it will continue acting according to the company’s established protocols for evaluating this type of situation.

Roa pled innocent to the influence trafficking charges.

Context: political, legal, and corporate challenges

Ecopetrol is currently facing several political and economic challenges. These include judicial and disciplinary proceedings involving its president, as well as questions about the company’s institutional and financial stability.

For example, the company’s 2025 annual report sparked public debate after reporting the highest reserve replacement ratio in the last four years (121%). According to the document, “300 million barrels of oil equivalent (BOE) were added, guaranteeing an average reserve life of 7.8 years.”

The report also said, “net proven reserves reached 1.944 billion barrels of oil equivalent.” However, private firms such as the independent investment bank BTG Pactual questioned those figures due to a change in the methodology used to calculate them.

Another point of debate has been the presidency of the Board of Directors, currently headed by Ángela María Robledo Gómez, a psychologist and former member of Colombia’s House of Representatives for Bogotá. Robledo was a member of the Partido Alianza Verde between 2010 and 2018 and later ran as vice presidential candidate alongside Gustavo Petro in the 2018 elections.

Roa’s legal situation is also linked to another investigation related to alleged irregularities in the financing of the Pacto Histórico presidential campaign in 2022, which he managed and which resulted in Petro becoming president.

In February, the Attorney General’s Office said investigators had found evidence suggesting that the campaign exceeded the legal spending limits. A similar case had already been examined by Colombia’s elections regulator Consejo Nacional Electoral, which fined those responsible more than $5 billion Colombian pesos (over $1.4 million USD).

For his part, Colombian President Gustavo Petro has publicly defended Roa. During a public event broadcast by media outlets such as Blue Radio, the president said the accusations are politically motivated. “We did not exceed spending limits; I have reviewed that accounting up and down,” he said. He also argued that the opening of criminal proceedings could be interpreted as an attempt to politically target his government.

Headline photo: Colombian President Gustavo petro (left) with former campaign manager and current Ecopetrol CEO Ricardo Roa (photo courtesy Ecopetrol).

Colombian authorities on Wednesday arrested Ángel Esteban Aguilar Morales, alias “Lobo Menor”, an alleged senior figure in the Ecuadorian criminal group Los Lobos and suspected intellectual author behind the 2023 assassination of Ecuadorian presidential candidate Fernando Villavicencio.

The arrest took place at El Dorado International Airport, where Aguilar Morales arrived on a commercial flight from Mexico, according to Colombia’s migration authority.

Officials said the suspect attempted to evade detection using false identification as a Colombian citizen, but biometric verification and international intelligence-sharing mechanisms exposed his true identity. He was detained under an Interpol red notice and handed over to judicial authorities pending extradition proceedings.

Aguilar Morales is considered a high-ranking member of Los Lobos, an Ecuador-based criminal organization linked to narcotrafficking, contract killings, illegal mining, and broader transnational crime. Authorities allege he played a central role in planning the killing of Villavicencio, whose assassination during the 2023 campaign sent shockwaves across the region.

The arrest comes at a delicate moment in bilateral relations. Colombia and Ecuador are this week attempting to defuse a growing diplomatic and security crisis following the discovery of an unexploded device inside Colombian territory near the border between the departments of Nariño and Putumayo. The incident has triggered sharp exchanges between the governments of President Gustavo Petro and Ecuador’s leadership, amid mutual accusations over cross-border security threats.

Colombia’s migration chief Gloria Esperanza Arriero López said the capture underscores the country’s determination to confront transnational criminal networks, particularly as tensions with Ecuador highlight the porous and contested nature of the shared border.

“This result demonstrates that Colombia has strong institutions and coordinated security forces working to close the space for criminal organizations, regardless of their origin,” Arriero said.

Colombian officials said Aguilar Morales had been under surveillance following intelligence tracking his movements through Medellín and Itagüí before traveling to Mexico. Authorities credited close cooperation with Mexican counterparts for locating and intercepting him as part of a multinational operation referred to by Petro as “Jericó.”

Petro described the suspect as one of the most significant figures linked to the Villavicencio assassination and alleged ties to dissident Colombian armed factions, including networks associated with “Iván Mordisco,” as well as Mexican cartels — evidence, he said, of the expanding integration of regional criminal economies.

According to investigators, Aguilar Morales had previously been sentenced in Ecuador to 20 years in prison for murder in 2013, but was granted conditional release in 2022 after serving half his sentence. Authorities allege he used falsified documents to meet legal reporting requirements while continuing criminal operations across borders.

The arrest marks a major development in the Villavicencio case and comes as Ecuador grapples with escalating violence linked to organized crime and drug trafficking routes. The slain candidate had campaigned on an anti-corruption platform and vowed to dismantle criminal networks, placing him squarely in their crosshairs.

Colombian authorities said the capture also demonstrates the importance of trilateral coordination between Colombia, Ecuador and Mexico in dismantling organized crime structures. Aguilar Morales is expected to face extradition as Ecuador seeks to prosecute those responsible for orchestrating the assassination.

The timing of the arrest — against the backdrop of rising diplomatic tensions and border security concerns — is likely to reinforce calls for deeper regional cooperation to address increasingly interconnected criminal threats operating across the Andes.