More than 45,000 steel sector jobs at risk – Andi

The Colombian Committee of Steel Producers of Andi, formed by Acerías Paz del Río, Gerdau Diaco, Grupo Siderúrgico Reyna, Sidoc and Ternium, companies that represent the totality of the national steel production, reported that due to the blockades on the roads in the framework of the National Strike, 45,000 direct and indirect jobs are at risk. The steel industry has already reported losses of Co$248 billion ($66.2 million).

Large banks boost sustainable credit market in Colombia

BBVA, Bancolombia, Banco de Bogotá, Davivienda and other financing companies offer lower rates for sustainable housing and electric cars. In the case of sustainable housing, they offer significant reductions in interest rates that can range from 65 to 200 basis points. In the case of electric vehicles, interest rate reductions can be more than 400 basis points below traditional rates.

Protests leave $17.02 mn worth of damage to transport infrastructure in Cali and Bogota

Protests in Colombia that began on 28 April have left Co$65 billion ($17.02 million) worth of damage to transport infrastructure in Cali and Bogotá, the government said. According to Transport Minister Ángela María Orozco, there is significant damage to mass transit systems, with the most serious damage occurring in Cali. Figures to date indicate that between Bogotá and Cali there are 591 vandalised trunk or zone buses. Of these, 175 cannot be used again due to damage.

Colombia’s coffee production up 9% in April

Colombia produced 810,000 60-kg bags of washed Arabica coffee in April, up 9% from the 744,000 bags produced in the same month last year, the national coffee growers' federation said. Colombian coffee exports soared 61% last month to 1.03 million bags, up from about 642,000 bags in April 2020. The surge in exports was driven by better logistics, the federation said, as last year this period was marked by lockdowns imposed to contain the coronavirus.

More than 50,000 restaurants have closed down due to Covid-19

According to the Colombian Association of Restaurants, Acodres, around 50,000 restaurants have permanently closed since the covid-19 pandemic started 15 months ago. As of March 2021, Acodres recorded 48,900 closures, and preliminary results reveal that 470 restaurants closed in April 2021. The association also informed that 17% of Colombian restaurants are currently operating on weekends only.

Codensa’s net profit up by 20%

The energy distributor Enel-Codensa's net profit increased by 20% in the first quarter of 2021, compared to the same period last year. It reached a net profit of $62 million (Co$ 230,639 billion). Its operating also increased by 3.7% to $392 million (Co$ 1.46 trillion). These results are correlated to the recent increase in the base of assets approved by the national government in 2020, informed Enel-Condensa.

Bancamía to issue $58 mn in gender bonds

Local bank Bancamía will issue $59 million (Co$ 200 billion) in social bonds for gender equity in Colombia. Securities are guaranteed by BBVA Colombia and rated AA + by BRC Investor Services, informed Bancamía. In this placement, resources will grant about 50,000 loans to female micro-entrepreneurs in conditions of vulnerability.

Hotel occupancy increased to 32% in March

In Colombia, the hotel occupancy rate increased to 32.25% in March 2021, 6,8 percentage points higher same month last year (28.40%), revealed the national association of hotels (Cotelco). Although this is still low, it represents an improvement as the occupancy rate reached a minimum historical low of 2% last year due to the covid-19 outbreak, … Continue reading Hotel occupancy increased to 32% in March

Beef and cattle exports rise by 50%

International sales of Colombian meat and cattle increased twofold in the first two months of this year compared to 2021. While last year exports totalled 16.1 million, this year they rose to $33 million. Meat exports reached 8,635 tons and heads of cattle 51,216, informed Fedegan. Egypt was the biggest buyer of meat with 1,695 tons ($ 5.2 million), followed by Lebanon, 1,196 tons ($ 5.1 million); Hong Kong, 1,165 tons ($ 5.2 million) and Chile, 1,056 tons ($ 5 million).

$5 mn for cocoa fields renovation

The Ministry of Agriculture announced two cocoa plantation programs in Colombia. With $2 million (Co$ 7. 5 billion), the first one seeks to directly support the renovation of 4,000 hectares of cocoa. The second one, with $3.5 million, aims to fund credit lines for renovation. These programs will be carried out in collaboration with the national federation of cocoa growers (Fedecacao). Today, Colombia produces 63,416 tons of cocoa in 188,000 hectares, benefiting 52,000 families in 422 municipalities.