Hi there. Bitcoin surged past $98K early today as investors speculate on a favorable regulatory environment under President-elect Donald Trump. The cryptocurrency is up 40% since Trump’s election victory and has more than doubled in value this year.

Also in today’s newsletter;

• Nigeria’s inflation climbs

• South Africa’s bullish outlook

• Sanlam’s $276M acquisition

• Climate-tech money flows

Next Frontier is sent once weekly. Was this email forwarded to you? Sign up below to get it directly next time.

Refer Friends & Earn Big Now!

Unlock amazing rewards with Daba's new Referral and Rewards program! Invite friends to invest and earn up to CFA 600,000 (over $1,000).

Get a free stock for each referred user who invests 10,000 FCFA. New users enjoy their first deposit free when they deposit $150, €150, or CFA 80,000. 

It's a win-win that keeps on giving!

How it works:

1. Open the Daba app and navigate to your profile section

2. Tap on "Referrals and Rewards"

3. Copy your unique referral code or use the "Share link" button

4. Send your link to friends interested in Daba

5. When they sign up and invest, you both earn rewards

6. Repeat and watch your rewards grow!

Start sharing now and boost your investment portfolio!

Markets Wrap

Markets

• Bitcoin Nears $100K on Optimism Over Trump's Crypto Policy

• BOA Benin Doubles Shares After Capital Increase Amid Challenges

• Angola’s Stock Listings Seen More Than Doubling by 2027

Earnings & Dividends

• BRVM-Listed Vivo Energy Net Income Jumps 63% in Third-Quarter

This Week’s Top Stories

Soaring Inflation: Nigeria’s inflation surged to 33.9% in October, up from 32.7% in September, driven by higher food and fuel prices and currency depreciation. The Central Bank of Nigeria is expected to hike rates further after raising them 13 times since 2022, as core inflation hits 28.4% and food inflation climbs to 39.2%.

Equities Rebound: South African stocks are poised for a rally, supported by pro-growth reforms and S&P’s credit outlook upgrade. Citigroup highlights renewed investor confidence, with the FTSE/JSE Africa All Share Index gaining 11% in dollar terms this year, despite global pressures and earlier $6.1 billion in outflows.

Presidential Term: Gabonese voters approved a new constitution extending presidential terms to seven years, with 92% voter backing. The reform introduces age caps and nationality requirements for candidates, a vice-president role, and term limits, signaling a move toward civilian governance after the 2023 military coup.

Insurance Stake: South African insurer Sanlam will acquire 12.3% of Ninety One for $276M, transferring 400 billion rand in assets to the asset manager. This strategic alliance aims to expand private market access, mirroring global trends as firms like Blackstone and KKR leverage insurance-linked investments.

Headline Roundup

A summary of the major business, tech, and finance headlines of the past week.

Economy and Macro

• S&P Raises South Africa's Outlook to Positive on Political Stability

• UN Peacekeeping Mission in Mali Officially Ends After 11 Years

• EU Provides Additional $21M for Rwandan Forces in Mozambique

• Zimbabwe Cuts Spending on Currency Devaluation, Budget Constraints

M&A and Corporate

• South Africa's Barloworld in Acquisition Talks with Zahid Group Unit

• TNC Explores Debt Swaps to Protect Southern Africa's Coastline

• Resolute Mining to Pay $160M to Mali in Tax Dispute Settlement

• Standard Chartered Targets Africa’s Ultra-Rich After Doubling AUM

Startups and Tech

• Qara Raises $2.6M to Expand Supply Chain Solutions in MENA

• Egypt’s Amenli Secures $2.3M Funding to Expand Insurance Access

• JADA Raises $1M to Build Africa’s AI Workforce for Global Demand

• Andela, CNCF Partner to Train 20,000 Africans in Cloud-Native Skills

Fundraising and Accelerators

• iHub Moves to New Nairobi Headquarters in Africa Expansion

• StanChart, Standard Bank to Help Lesotho Develop Clean Energy Fund

Must-Reads on Daba

Boost your investing IQ with educational blogs and thematic articles on Africa.

Learn

• How Venture Funds Work: A Guide for Investors

• How to Make Money From Investing in IPOs

Insights

• Money Flows Into Africa’s Climate Tech Startups

• Africa’s Evolving VC Landscape: Six Things To Know

Perspectives

• How Can Africans Build Wealth? Entrepreneurship & Stock Markets

• Lowering Infrastructure Costs Key To Financial Inclusion In Africa

Opportunities Corner

Discover funding, awards, and accelerator opportunities to boost your startup's growth. Deadline in brackets.

• Mastercard Agribusiness Challenge (Nov 22)

• Growth4Her Accelerator (December 31)

We're Hiring! Join the Daba Team

Daba is expanding, and we're seeking passionate individuals to join our team. We have exciting opportunities for:

• Communications and Community Manager

• Business Development Representative

• Financial Operations Manager - Abidjan, Côte d'Ivoire

Think you’re a fit? 

Click on the role of interest for a chance to join us in shaping the future of finance in Africa.

Chart of the week

Get more context into themes shaping Africa’s investing landscape.

Nigeria’s economy, which ranked as Africa’s largest in 2022, slipped to fourth place this year, and Egypt, which held the top position in 2023, is second behind South Africa after a series of currency devaluations, per International Monetary Fund data. For more context on the ranking of Africa's giant economies this year, tap the button below to read the full article.

That’s it for this week.

Next Frontier is sent once weekly. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here.

If you haven’t, you can also download the Daba app to get daily bite-sized insights into African economies, industry and country reports, and access investment opportunities.

Catch you next week!