Supporters of the Nigerien defence and security forces outside the national assembly in Niamey on Thursday. AFP
Supporters of the Nigerien defence and security forces outside the national assembly in Niamey on Thursday. AFP
Supporters of the Nigerien defence and security forces outside the national assembly in Niamey on Thursday. AFP
Supporters of the Nigerien defence and security forces outside the national assembly in Niamey on Thursday. AFP

Niger coup faces growing condemnation amid calls to free Mohamed Bazoum


  • English
  • Arabic

The head of Niger’s armed forces said he endorsed a declaration by troops who announced a military takeover overnight and the detention of the President Mohamed Bazoum.

On Thursday, the military command of the Nigerien armed forces “subscribed” to the declaration by the defence and security forces to avoid a deadly confrontation between the various forces, AFP reported, citing Gen Abdou Sidikou Issa.

The announcements are another blow to Mr Bazoum, after Nigerien soldiers appeared on the country's national TV station on Wednesday to announce that the president and government had been removed from power, shortly after African organisations reported an attempted coup.

Supporters of Niger's defence and security forces during a demonstration outside the national assembly in Niamey on Thursday. AFP
Supporters of Niger's defence and security forces during a demonstration outside the national assembly in Niamey on Thursday. AFP

Col Amadou Abdramane said the country's defence and security forces decided to "put an end to the regime that you know due to the deteriorating security situation and bad governance", Reuters reported.

He also announced that a nationwide curfew had begun, while the country's borders were shut.

Mr Bazoum was elected president two years ago in the country's first peaceful, democratic transfer of power since its independence from France in 1960.

The landlocked state is one of the poorest and most unstable countries in the world, experiencing four coups since 1960, as well as numerous other attempts – including two previously against Mr Bazoum.

Mr Bazoum's government has made Niger a key partner of the West in the fight against Islamist extremism in Africa's Sahel region.

“We strongly condemn any effort to detain or subvert the functioning of Niger’s democratically elected government, led by President Bazoum,” White House National Security Adviser Jake Sullivan said.

“We specifically urge elements of the presidential guard to release President Bazoum from detention and refrain from violence.”

All activities by political parties in Niger have been suspended until further notice, Col Abdramane said on state television on Thursday, after the army declared allegiance to leaders of the coup that toppled the government.

In the latest turbulence to shake the coup-prone Sahel, Mr Bazoum was confined on Wednesday by members of his presidential guard.

Hours later, their leaders, calling themselves the Defence and Security Forces (FDS), declared they had "decided to put an end to the regime", announcing that all institutions were being suspended, the borders closed and a night-time curfew imposed.

As African and international organisations condemned the declared takeover and allies France and the United States voiced their support for Niger's elected leader, Mr Bazoum stood his ground.

"The hard-won gains will be safeguarded," he said on Twitter, which is being rebranded as X. "All Nigeriens who love democracy and freedom would want this."

Foreign Minister Hassoumi Massoudou said Niger's "legal and legitimate power" was the one exercised by its elected president.

There had been a "coup bid" but "the whole of the army was not involved", he told France24 television.

"We ask all the fractious soldiers to return to their ranks," he said. "Everything can be achieved through dialogue but the institutions of the republic must function."

But armed forces chief Genl Abdou Sidikou Issa dealt a hefty blow to those hopes.

"The military command ... has decided to subscribe to the declaration made by the Defence and Security Forces... in order to avoid a deadly confrontation between the various forces," he said in a statement.

Several hundred people, some of them holding Russian flags, took part in a show of support in Niamey for the coup leaders, AFP journalists reported.

International condemnation

The president of neighbouring Benin, Patrice Talon, was expected in the capital for mediation efforts, the head of the Economic Community of West African States said.

US Secretary of State Antony Blinken said he had spoken to Mr Bazoum to offer Washington's support, while UN Secretary General Antonio Guterres strongly condemned "the unconstitutional change in government" in Niger

Russia, which has been isolated internationally since invading Ukraine in February 2022, joined the countries appealing for Mr Bazoum's release.

It urged "all parties to the conflict to refrain from the use of force and [to] resolve all disputes through peaceful and constructive dialogue".

In Brussels, the European Union said Niger was "an essential partner ... whose destabilisation would not serve the interest of anyone in the country, the region or beyond".

How to invest in gold

Investors can tap into the gold price by purchasing physical jewellery, coins and even gold bars, but these need to be stored safely and possibly insured.

A cheaper and more straightforward way to benefit from gold price growth is to buy an exchange-traded fund (ETF).

Most advisers suggest sticking to “physical” ETFs. These hold actual gold bullion, bars and coins in a vault on investors’ behalf. Others do not hold gold but use derivatives to track the price instead, adding an extra layer of risk. The two biggest physical gold ETFs are SPDR Gold Trust and iShares Gold Trust.

Another way to invest in gold’s success is to buy gold mining stocks, but Mr Gravier says this brings added risks and can be more volatile. “They have a serious downside potential should the price consolidate.”

Mr Kyprianou says gold and gold miners are two different asset classes. “One is a commodity and the other is a company stock, which means they behave differently.”

Mining companies are a business, susceptible to other market forces, such as worker availability, health and safety, strikes, debt levels, and so on. “These have nothing to do with gold at all. It means that some companies will survive, others won’t.”

By contrast, when gold is mined, it just sits in a vault. “It doesn’t even rust, which means it retains its value,” Mr Kyprianou says.

You may already have exposure to gold miners in your portfolio, say, through an international ETF or actively managed mutual fund.

You could spread this risk with an actively managed fund that invests in a spread of gold miners, with the best known being BlackRock Gold & General. It is up an incredible 55 per cent over the past year, and 240 per cent over five years. As always, past performance is no guide to the future.

Red flags
  • Promises of high, fixed or 'guaranteed' returns.
  • Unregulated structured products or complex investments often used to bypass traditional safeguards.
  • Lack of clear information, vague language, no access to audited financials.
  • Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
  • Hard-selling tactics - creating urgency, offering 'exclusive' deals.

Courtesy: Carol Glynn, founder of Conscious Finance Coaching

UAE SQUAD

Goalkeepers: Ali Khaseif, Fahad Al Dhanhani, Mohammed Al Shamsi, Adel Al Hosani

Defenders: Bandar Al Ahbabi, Shaheen Abdulrahman, Walid Abbas, Mahmoud Khamis, Mohammed Barghash, Khalifa Al Hammadi, Hassan Al Mahrami, Yousef Jaber, Salem Rashid, Mohammed Al Attas, Alhassan Saleh

Midfielders: Ali Salmeen, Abdullah Ramadan, Abdullah Al Naqbi, Majed Hassan, Yahya Nader, Ahmed Barman, Abdullah Hamad, Khalfan Mubarak, Khalil Al Hammadi, Tahnoun Al Zaabi, Harib Abdallah, Mohammed Jumah, Yahya Al Ghassani

Forwards: Fabio De Lima, Caio Canedo, Ali Saleh, Ali Mabkhout, Sebastian Tagliabue, Zayed Al Ameri

Updated: July 28, 2023, 5:32 AM