Finance Colombia

The Communications Regulatory Commission (CRC) has presented a data flash on complaints in communications services, a detailed analysis of the behavior of requests, complaints, claims, and requests (PQRS) made by users of internet, telephony, subscription television, and postal services in Colombia during the fourth quarter of 2024.

This report consolidates key information to evaluate the quality of telecommunications (internet, telephony, and subscription television) and postal services, to know the level of user satisfaction as well as the problems and the main causes of non-conformity, as a key tool for the supervision and regulation of companies in the sector.

According to the analysis, during the second half of 2024, 2.01 million complaints were registered regarding telecommunications services, which represents a decrease of 26.7% compared to the same period in 2023 and an annual reduction of 32.9% compared to the total for 2023.

77.2% of the complaints were filed through traditional channels such as telephone lines and physical offices, while 22.8% were managed through digital means such as websites, social networks, and messaging applications.

The number of complaints per 100 accesses, for telecommunications services, was:

Fixed internet: 3.16
Mobile telephony: 0.3
Subscription TV: 0.57
Fixed telephony: 0.75
Mobile internet: 0.3, the latter being the only one with an increase in complaints: +52% compared to the second half of 2023.

The main causes of disagreement identified were the unavailability of the service, errors in billing, and unjustified charges or discounts, common to all the services evaluated.

The report also analyzes the behavior of decisions in the different instances of attention, identifying that 78% of the PQRS were resolved in favor of users in the first instance, while 67% were resolved in a second instance, by the Superintendence of Industry and Commerce.

In terms of complaints in the postal service, during 2024, 103 million postal shipments were reported, of which 645,000 PQRS were generated, which is equivalent to 0.63% of the total shipments. The service with the highest number of complaints was express courier (95.5%), followed by mail (2.5%) and money orders (2%). The main typologies were requests for information (55.02%) and non-compliance with delivery times (22.38%).

“From the CRC, we will continue to monitor the behavior of complaints in the communications sector, to identify opportunities for improvement, strengthen the protection of users’ rights, and promote better quality in the provision of services,” said Claudia Ximena Bustamante, commissioner and executive director of the CRC.

Photo credit: albertoadan from Pixabay.

Between January and April, Colombia sold $8.463.5 million USD in agricultural, agro-industrial, and industrial products (Non-Mining Energy -NME-), which represented more than half (52.6%) of the total exported goods, a share that increased 9 percentage points compared to the same period in 2024.

The value exported in the first four months of this year registered an increase of 23.5% compared to January-April of last year, when $6.851.5 million USD were exported. In volume, 3.3 million tons were shipped, which represented 9.8% more than a year ago.

The different entities attached to and linked to the Ministry of Commerce, Industry and Tourism provide and make available to entrepreneurs instruments and programs to support them in the sophistication and diversification of the non-mining export basket, with goods of greater added value. Likewise, work is being done to expand the markets for these products.

According to the ministry’s analysis, within the non-mining basket between January and April, the sector that had the highest growth was agriculture, with 41.32% compared to a year ago. The amount exported reached $3.786.9 million USD.
Among the products that helped drive growth in the period are coffee, with an increase of 96.9%; gulupa, 39.3%; Hass avocado, 16.7%; flowers, 9.5%; Tahiti lemon, 8.6%; and bananas, 6.2%.

For its part, exports of industrial products totaled $3.399.3 million USD and grew 5.3% compared to the previous year. Exports included goods such as: perfumes and toilet waters, which grew 18.4%; insecticides, 16.1%; electrical transformers, 13.4%; beauty preparations, 7.8%; plastics and their manufactures, 7.1%, and doors, windows, and their frames, 3.2%.

In agribusiness, foreign sales reached $1.277.2 million USD for an increase of 35.6%. Among the products of this sector that contributed to the result of the non-mining basket with their exports are, among others: cocoa and its preparations with an increase of 114.5%; palm oil, 67.6%; beverages, including water and alcoholic beverages, 47.9%; coffee extracts and essences, 39.1%; bakery and pastry products, 14.5%, and sugar, 7.4%.

By region

The main 10 departments from which non-mining goods are shipped to the world, which, due to their participation in this basket, represented 93.2%, and within these, the one that registered the highest growth in these foreign sales in the period of analysis was Huila with a variation of 83.8%. This region accounts for 5.4% of these exports.

It was followed by Caldas, whose non-mining foreign sales increased 53.9%. This department has a share in this group of 5.4%.

The third-highest growth of this top 10 is in Magdalena with a variation of 48.6%, which represents 4.7% of the country’s non-mining energy basket.

It was followed by Antioquia with an increase of 26.4%. This, together with Bogotá (whose exports grew 17.8%), is the main origin of non-mining foreign sales. In the period of analysis, these regions accounted for 19.3% each.

Photo credit: MINCIT.

Colombia is a madhouse at the best of times; the past seven days have been exceptional even by its lofty standards.

Tragic assassination attempt on Miguel Uribe.
Multiple bomb attacks in the Cali region.
Gustavo Petro signs decree on labor reform referendum.
Multiple parties sign a letter stating that the referendum via decree constitutes a Coup d’état.
Labor reform 2.0 advancing in the senate/congress.
Fiscal reform suspended.
May inflation be lower than expected?
Continued poor tax returns.
Petro again muttering about a national assembly.

There is little transparency, but here are some brief thoughts. In the case of Miguel Uribe, everyone should focus on sending their prayers to the family at this time and calling for national unity. Instead, there are far too many, predictably, trying to exploit the situation for their political gain.

Kudos to those who have followed the path of consolidation (90% of them outside Medellín) and to the others (90% from Medellín) who want to be on the same side of the conversation as Marco Rubio & Benjamin Netanyahu, who simply had to comment, perhaps tone down the rhetoric, it is helping no-one at all in Colombia. There are no clear conclusions as to what happened, and the follow-up terrorism in Cali has only muddied the waters. There is a lot of investigation to be done, and that in Colombia invariably takes a long time.

The referendum isn’t a Coup d’état, and is best left to the courts to decide. Even four members of the cabinet didn’t sign in support. Personally, as Petro has hinted himself, I can see the referendum being scrapped if labor reform 2.0 is successful (now 70% approved), and there seems to be more cross-party support than previously. Regardless, the referendum has to garner over 13 million votes – that is a huge hurdle in this country. As for the national assembly, he’d be lucky to get it half-organized before leaving in 14 months.

The fiscal rule news is a real concern; the Peso dropped 1% post-announcement. We aren’t here just because of the Petro government, but they are holding the baby, and it’s their problem to try to fix. It remains to be seen, at a time of falling oil prices and tax revenues, combined with climbing imports, what can be done. Those tax revenues YTD (May) stand at $30bn, around $1.5bn below expectations.

May inflation (5.05%) from Departamento Administrativo Nacional de Estadística – DANE Colombia was considerably lower than April (5.16%) and also the consensus of 5.10%. However, with the Fedesarrollo YE estimate recently rising from 4.4%-4.8%, it’s unlikely that Banco de la República – Colombia will make any move from 9.25% at month end.

I don’t know about anyone else in Colombia, but perhaps we should just cancel Friday and stay in bed.

Regards.

Roops.

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Presidential candidate and Senator Miguel Uribe Turbay with his wife, Maria Claudia Tarazona. (source: social media)

To continue to strengthen the technical capacities of territorial entities in issues associated with productive development, the Ministry of Commerce, Industry and Tourism received, during 2024 and the first months of 2025, the support of Swiss Cooperation, through the More Competitive Colombia Program, for the development of a methodological guide aimed at the design and implementation of productive transformation policies with a territorial approach.

In line with the objectives of the National Reindustrialization Policy, this guide incorporates a methodology that supports any territorial entity seeking to develop a productive policy tailored to its specific territory and reality, with the participation of public, private, academic, and organized civil society actors.

The construction of this guide was led by the firm Technopolis Group, through a participatory and rigorous process that included the review of conceptual and practical developments, both national and international; semi-structured interviews with key actors from Colombia and other countries, and regional workshops held in several departments, which allowed testing and adjusting the proposed guidelines.

The result is a practical and accessible tool that proposes a clear path, structured into nine steps, which guides entities through the stages of preparing, designing, and implementing productive development strategies. Additionally, each stage is supported by specific sources of information and tools that facilitate its application in the territory.

This tool was presented on May 21 to representatives of the departments of Amazonas, Caquetá, Guaviare, Guainía, Putumayo, Vaupés, Vichada, and Tolima, and national entities such as the National Planning Department, the National Federation of Departments, and the Ministry of Labor.

The methodological guide is projected as a support input for territorial entities, by facilitating the construction of roadmaps aimed at closing gaps, promoting economic growth, strengthening regional competitiveness, and contributing to the improvement of the quality of life of the population in the territories.

This tool was presented to representatives of the departments of Amazonas, Caquetá, Guaviare, Guainía, Putumayo, Vaupés, Vichada, and Tolima, and national entities such as the National Planning Department, the National Federation of Departments, and the Ministry of Labor.

Photo credit: MINCIT.

Andigráfica, the main business and knowledge platform of the graphic industry in Colombia, will open its doors from June 17 to 20 in Corferias, Bogotá. In this edition, the fair will feature the 39th Colombia Gráfica Congress, offering a robust academic agenda with national and international experts who will address key topics such as foreign trade, digital transformation, Artificial Intelligence, packaging and labeling, sustainability, and new market opportunities.

“In addition to a training space, the academic agenda is designed as a tool for businessmen, professionals in the sector, and entrepreneurs in the value chain to identify real opportunities for innovation and growth. We want each talk to provide applicable ideas and connect with the specific challenges facing the graphic industry today,” says Ana Garibello, project manager at Corferias.

During this edition, the academic agenda will present a total of 34 conferences and panels with the participation of nearly 40 speakers from countries such as Brazil, Mexico, Panama, Japan, and Colombia.

“One of the biggest challenges of our industry is to anticipate changes in the global market and adapt its value proposition. In congress, the conversations seek to promote a strategic mindset in graphic entrepreneurs, strengthen their export capacity, and connect them with trends that can translate into real competitive advantages,” says Tatiana Duarte, executive president of ANDIGRAF.

Experts will address topics ranging from end-consumer trends and internationalization to textile printing, inclusive design, and sustainable process automation, offering practical approaches and a vision for the future. Photo credit: Andigráfica.

Comuna 13, one of Medellín’s 16 urban areas comprising 249 neighborhoods, has been a focal point of Colombia’s internal conflict for decades. The area became a hotspot of violence beginning in the 1980s, marked by the rise of hired assassins and the drug micro-trafficking trade. With minimal state presence, the late 1990s saw a surge in confrontations between FARC and ELN guerrilla militias, and eventually, paramilitary groups such as the United Self-Defense Forces of Colombia (AUC) took control, leaving a trace of extreme violence.

Civilians arbitrarily accused of guerrilla collaboration were killed and buried in clandestine graves. Two of the most notorious sites were La Escombrera in the El Salado neighborhood and Alto de la Virgen in La Divisa and many of these disappearances were carried out by paramilitaries that went unpunished for years.

The situation escalated dramatically in 2002, during President Álvaro Uribe Vélez’s term, under the banner of the “Democratic Security” strategy. That year, 11 military operations were launched in Comuna 13 to reclaim areas under guerrilla control. These operations, however, were accompanied by serious human rights violations, including forced disappearances, arbitrary detentions, and torture.

Diego Murillo Bejarano, alias ‘Don Berna,’ former commander of an AUC bloc, claimed in 2007 that more than 100 mass graves containing over 300 bodies were located in the area that includes La Escombrera, a construction debris dump.

La Escombrera has become a symbol of impunity and pain, as this analysis by Pedro David Pérez, Universidad de los Andes scholar, explains. Families of the disappeared, along with human rights organizations, have long identified it as a clandestine burial site for victims of illegal detentions and executions. The site is now both a literal and symbolic ground for memory and resistance. Families have transformed it into a place of remembrance and protest, demanding truth, justice, and reparation.

In response, Medellín’s city mayor and Colombia’s Special Jurisdiction for Peace (JEP) have taken concrete steps to support the search for the disappeared. The mayor’s office estimates a budget of over $8 trillion COP ($2 billion USD as of the date of publication) is needed for technical, legal, and logistical resources in this effort. Mayor Federico Gutiérrez Zuluaga called on the national government to contribute with $3.5 trillion COP ($850 million USD) to continue operations through the end of this year, emphasizing the need for a unified response for the sake of the victims. “We ask the National Government to get involved and stand by the victims,” Gutiérrez said in recent declarations.

Key advances include the establishment of a camp for searching mothers, transport services, terrain stabilization efforts, and essential civil works such as fences and monitoring instruments like inclinometers. In the second phase of the search, the Peace and Human Rights Secretariat plans to install two additional inclinometers and piezometers to mitigate erosion risks, deploy heavy machinery, and cover 2,500 square meters of terrain with protective sheeting.

According to JEP president Alejandro Ramelli, their commitment has already included a $650 million COP budget and cooperation with the Guatemalan Forensic Anthropology Foundation. He echoed the mayor’s call for support from the National Government. “The resources of the Mayor’s Office and those of the JEP are not sufficient for an issue that is of national interest,” Ramelli pointed out.

In parallel, the city has ensured continuous psychosocial, legal, and medical support for the families involved, reaffirming its commitment to the dignity and rights of victims.

Headline photo: Equipment and personnel are arriving to La Escombrera to ensure the search for missing people at the site. (Photo: Alcaldía de Medellín Alcaldía de Medellín)

On May 29, around 100 people gathered to celebrate a powerful idea: philanthropy can be strategic, collective, and transformative. The ONE night took place at La Pascasia, a cultural building located in downtown Medellín, which opened its doors for One Inversión Social to present its intervention model more broadly and extend an invitation to continue building networks that respond to the country’s main social challenges.

An event with the purpose

The evening began with a performance by the 1+1 Foundation Ensemble of the song ONE by the Irish band U2, which includes the line ‘We must support each other,’ a phrase that inspired Declan Ryan to name his foundation in Ireland in 2014 and expand it to Colombia a few years later.

‘’Investing in people will always be a good investment, everything we allocate to strengthen leadership, social entrepreneurship, and sow hope where others only see difficulties,’’ Ryan said during the event.

The evening was filled with emotion, with live testimonials from some project beneficiaries. Photo credit: One Inversión Social.

The evening was filled with emotion, featuring live testimonials from some project beneficiaries, music from the Uno más Uno Foundation and Son de La Nubia, and a taste of our land through the gastronomic offerings of renowned chef Pedro Fernández. It was the perfect setting to reiterate the call for solidarity through strategic philanthropy, as explained by Mónica Gil, president of ONE: “Today I want to talk to you about a form of philanthropy that is not charity. That is not content with merely alleviating suffering. That goes beyond good intentions. Today, I want to talk to you about strategic philanthropy. One that is committed, that thinks long term, that measures, that transforms.”

An emotional evening with live testimonials, music, and local flavors by chef Pedro Fernández delighted all attendees.

Ireland and Colombia: A connection without borders

As part of the academic component of the evening, Eoghan Stack, chairman of the board of The One Foundation and director of business development and international business at DCU Business School in Ireland, gave a lecture focusing on the social and economic value of entrepreneurship and the importance of making evidence-based decisions concentrate on sustainability and the long term.

“Money alone does not change the world. It transforms when aligned with sound processes, trustworthy leaders, and urgent causes. That is the philanthropy we need because it is not just about doing good, it is about doing good in an effective, measurable, and sustainable way,” said Stack.

Stories that conveyed hope

The stage was also taken by the protagonists of change, those who represent the true impact of the projects supported by One Inversión Social. From Cartagena, the Granitos de Paz Foundation showed through Gregoria Cortés how an idea born in vulnerable neighborhoods has managed to improve the nutrition and economic autonomy of hundreds of families.

The evening began with a performance by the 1+1 Foundation Ensemble. Photo credit: One Inversión Social.

One Forest, with the Escuela Móvil de Barismo, presented Kleider Giraldo as an example of the change that can be achieved when a young person who lived on the streets is given an opportunity for training and formal work. And Humanos 3D spoke through Rigoberto Zapata and Aimmy Marín about the power of technology in the service of inclusivity, thanks to the prostheses they design for people with disabilities.

Continuing to multiply the impact

Those attending the One gala were inspired by the stories of transformation they heard, as well as by the great commitment to continue working together to make strategic philanthropy increasingly relevant and contribute to the change that the country so desperately needs. “I take away connections, I take away an understanding of what it means to do strategic philanthropy, I take away a lot of love,” said Pedro Fajardo, director of the Mi Sangre Foundation.

Those attending the One gala were inspired by the stories of transformation they heard. Photo credit: One Inversión Social.

“I take with me the possibility of connecting different sectors, connecting social organizations, so that together we can think about how we can strengthen the social sector, not only in Antioquia but in Colombia,” said Diana Rojas, Comfama’s partnership leader.

Colombian President Gustavo Petro announced on Saturday, June 7, that his Council of Ministers has been summoned to sign a presidential decree formally calling for a national referendum regarding the labor reform bill. The move comes despite the Colombian Congress having rejected the proposal on May 14, just after deciding that the bill would continue its process in the Senate.

Through his official account on X, Petro issued a surprising message to his ministers: “Any minister who does not sign the presidential decree will leave office immediately. Presidential power is the power of the people.” With this statement, he made clear there would be no delays in advancing what he considers is a direct democratic mechanism.

Ministro que no firme el decreto presidencial de inmediato se va.

El poder presidencial es poder del pueblo https://t.co/N7oWkE4iP6

— Gustavo Petro (@petrogustavo) June 7, 2025

The decision has sparked significant legal and political controversy. While President Petro argues that Congress failed to properly resolve the appeal filed regarding the vote, opposition leaders and legal experts have accused the him of overstepping his constitutional powers.

According to the government, the failure of Congress to address the appeal provides grounds for moving forward via executive decree. This appeal comes from a lawsuit filed by María José Pizarro, senator from Petro’s Pacto Histórico coalition, which questions the way in which the vote was closed. A court ruled that Senator Pizarro’s right to due process had been violated and ordered the president of the Senate to provide a formal response to her appeal within 48 hours.

Efraín Cepeda, President of the Senate (headline photo), however, maintains that the matter was resolved on May 21, prior to the court’s ruling, and has defended the legality of his actions. “The judge’s request had already been resolved at the time, and sharing that information would have prevented the need to request what had already been done, sparing certain government officials from the overwhelming enthusiasm that led them to produce videos, statements, and press releases that could surely have been reserved for a more well-founded matter,” Cepeda said via X.

Nonetheless, the court’s decision has added fuel to Petro’s push for a referendum, raising serious institutional questions.

Al parecer, los accionantes de la tutela pasaron por alto un detalle clave al informar al juez, pues la apelación interpuesta por la senadora María José Pizarro el 14 de mayo ya había sido respondida por el Senado de la República el 21 de mayo de 2025, lo que significa que la… pic.twitter.com/fxWOmCKS1H

— Efrain Cepeda (@EfrainCepeda) June 7, 2025

The president’s move has triggered harsh criticism from across the political spectrum. Senator Paloma Valencia of the Centro Democrático party responded to Petro’s message via X: “No, Mr. President. The power of the people is the rule of law, their democracy. What you’re proposing is the dream of tyrants who believe they alone represent the people and stand above all institutions,” she pointed.

In response to the unfolding crisis, Senate President Cepeda has filed an early warning with the Office of the UN High Commissioner for Human Rights. The alert claims the government’s actions represent a “serious disruption of constitutional order” and threaten the principle of separation of powers. The petition has been supported by legal experts, including attorney Víctor Mosquera Marín and the foundation Derechos y Justicia Asociados.

Headline photo: Senate President Efraín Cepeda (Photo: Senado de la República)

Have you heard about San Basilio de Palenque, Colombia? What do you know about the town’s history as the first free settlement of Africans in The Americas? Established by fugitives in 1603, the town and its people, the Palenqueros are still thriving today, more than 400 years later!

Finance Colombia presents a short documentary by Loren Moss about San Basilio de Palenque, its people, its history in their own words, and how the town is doing today. Its inhabitants, the Palenqueros, also share advice for those who wish to visit.

Special thanks to:

The people of San Basilio de Palenque, los Palenqueros
El Maestro Rafael Cassiani (RIP) and his family
The musical group Kombilesa Mi, especially Ali Mc PM & Afroneto
HBCU Connect, LLC
Chevron Petroleum
The Talento Total Foundation

VERSIÓN EN ESPAÑOL https://youtu.be/LdDYDpm6m6k?si=-I7qQbGIfV_QgYsP

Produced by Unido Digital Media, LLC https://unidodigital.media/
Read more: Finance Colombia: https://www.financecolombia.com/
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More about Loren Moss: https://lorenmoss.com/
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Saturday afternoon, around 5:30pm, Colombian senator and presidential hopeful Miguel Uribe Turbay was shot in the back and the head by a 14 year old assailant (some reports say 15-year-old, and his name is being withheld due to his youth) as he gave a speech in the Bogotá neighborhood of Fontibón, not far from the city’s international airport. Bodyguards shot the youth in the leg at the scene, and both victim and perpetrator were rushed to local hospitals.

Uribe Turbay was later transferred to a better equipped hospital in the north of Bogotá where he underwent cranial surgery due to the gravity of his wounds. As of Sunday morning, June 8^th, Uribe’s surgery was successful, though he remains in critical condition. The CTI, Colombia’s equivalent of the FBI, and DIJIN, the national police’s investigative unit, have possession of the youth’s phone and are analyzing messages and contacts.

The following day, Sunday, June 8th, thousands took to the streets in major Colombian cities in solidarity with Uribe Turbay, expressing not necessarily support of his particular candidacy, but rejection of political violence.

Uribe is a “pre-candidate” for Colombia’s presidential elections next May. Pre-candidates are competing within their respective political parties to become the party’s official candidate for the upcoming elections. Other pre-candidates may bypass the party endorsement system by collecting enough signatures to appear on the ballot.

Uribe Turbay belongs to the Centro Democratico political party, controlled by former President Alvaro Uribe, though the two are not related. Uribe Turbay is the son of journalist Diana Consuelo Turbay Quintero, who in 1991 was kidnapped by Pablo Escobar’s Medellín Cartel in 1991 and died in their custody during a failed rescue attempt. In turn, Diana Turbay was the daughter of Julio César Turbay Ayala, who was president of Colombia from 1978 to 1982.

#ATENCIÓN. Se conoce un video que deja ver el momento cuando el congresista Miguel Uribe Turbay recibe los impactos de bala mientras daba un discurso en un parque del b/Modelia.

En desarrollo… https://t.co/HAlu4typX7 pic.twitter.com/d612iyMl37

— Colombia Oscura (@ColombiaOscura_) June 7, 2025

During Julio César Turbay Ayala’s administration, the M-19 rebel group attacked the Dominican embassy in Bogotá, holding several ambassadors hostage, including those from the US, Costa Rica, Venezuela, Israel, and Peru. Colombia’s current leftist President Gustavo Petro was a member of the now-disbanded M-19 guerillas.

Political repercussions

Colombia is in a state of high political tensions, as the leftist president Gustavo Petro, a former armed guerilla, is in the process of attempting to bypass the system of checks and balances and hold a referendum on his labor reforms. The labor reform bill failed to pass congress, and the referendum itself also failed to pass congress, but he is insisting on moving forward with the measure, provoking a constitutional crisis.

Miguel Uribe and his Centro Democratico party have been opponents of the president’s populist agenda, as have several other major political parties, and even a number of the president’s former ministers.

President Petro condemned the assassination attempt and ordered an investigation into Uribe Turbay’s security detail. The government is offering a reward of up to approximately $780,000 USD for information on the perpetrators. All other presidential candidates condemned the attempt and denounced the plague of political violence and common criminality that Colombia suffers from.

Supporters of Petro had called for public marches in support of the president’s proposed reforms for this Wednesday, June 11. This assassination attempt ratchets up tensions, as it recalls “El Bogotazo,” the riots and burning of Bogotá in 1948 after the assassination of presidential candidate Jorge Eliécer Gaitán. The assassination and the repercussions, against the context of political violence between the two main political parties—Liberals and Conservatives—of that time, were ingredients in the rise of communist armed insurgencies during the 1960s of the FARC, ELN, and EPL, and as a response, vigilante groups like the AUC, which later morphed into common mafias.