AI
China's AI stocks lose about US$480 billion in under four months
Shanghai's STAR 50 index, heavy with chip and technology companies, has fallen about 40% in less than four months, wiping out roughly US$480 billion in value, according to Reuters figures cited by Techweez. Investors doubt that the money poured into AI chips and data centres will earn enough to justify it: some chipmakers lost much of their value soon after strong listings, and a report found many Chinese data centres underused. Falling share prices do not mean the technology is failing, but they show markets now want profits, not just spending. Alphabet's results this week will test the same question in the US.
Techweez
HEALTH
Anthropic starts developing its own medicines, beginning with a rare childhood muscle disease
A day after filing to list its shares, Anthropic said it has started its own drug-discovery programmes, led by an experimental antibody for a rare form of muscular dystrophy that affects children from birth. In mice, one version roughly doubled muscle strength, but the study was small, not blinded and not yet peer reviewed, and nothing has been tested in people; Anthropic says human trials could start in late 2028 at the earliest. It bought Mithril Medicine, a one-person company whose founder used Claude to run experiments across 11 outside labs. Drug companies including Bristol Myers Squibb already use Claude to review trial plans and documents.
Techweez
GADGETS
OPPO's Reno16 arrives in Kenya at KES 79,999, and the Reno16 F at KES 69,999
OPPO launched both 5G phones in Kenya today. The Reno16 is the smaller of the two, with a 6.32-inch screen and an aluminium frame; the Reno16 F has a 6.57-inch screen. Pre-orders until 4 November come with earbuds, a 10,000mAh power bank, six months of screen protection and three months of Google's Gemini Pro plan with 5TB of storage. If you mainly want value, Tech-ish's ranking of phones from KES 20,000 to 60,000 puts the Galaxy A17 4G, at about KES 20,800 with six years of Android updates, at the top.
TechTrends · Tech-ish
PAYMENTS
Circle, the issuer of the USDC stablecoin, invests in Africa's CrissCross
Circle Ventures has invested an undisclosed sum in CrissCross, a payments company owned by South Africa's Stitch Group, which moves money for businesses across more than 30 African markets and 20 currencies. Through one API, companies can collect payments, pay out to local bank accounts and mobile wallets, and manage foreign exchange, with stablecoins used to settle between countries. The money is meant to scale that across the continent. Stablecoins can make the middle of a cross-border payment faster and cheaper, but the last step, into shillings or naira in someone's account, still depends on local licences and payout partners.
CrissCross (company announcement)
FINTECH
Taja, a cross-border payments app live in Kenya, passes 50,000 users
Taja, launched in 2024, says more than 50,000 people have now signed up across Nigeria, Ghana, Kenya, Senegal, South Africa, Benin and Côte d'Ivoire, and that it processes millions of dollars a month. It offers wallets in several currencies, collections from abroad, payouts, currency conversion, virtual cards and settlement in digital assets, aimed at freelancers, creators and small businesses that get paid from outside Africa. The figure is total sign-ups, not monthly active users, and Taja did not publish its volumes precisely.
ThisDay
HEALTH
Tanzania's Medikea raises US$1.2 million to grow its clinics from four to ten
Dar es Salaam's Medikea, which combines round-the-clock video consultations with its own clinics, pharmacies and labs, has raised US$1.2 million in pre-seed funding led by Baobab Network, Catalyst Fund and develoPPP Ventures, with Madica, Hustle Fund and others following. New clinics in Arusha and Morogoro take it to four, and it wants ten within a year and more than 100,000 patients before expanding in the region. It handles outpatient care, from children's and women's health to chronic disease, and refers surgery to partner hospitals.
Disrupt Africa
RETAIL
Samsung opens a shop in Kitui as phone brands look beyond Nairobi
Samsung has opened a shop-in-shop at City Gate Mall in Kitui town, run with two local retailers, where buyers can try its phones with staff to help. "Kenya's markets are diverse, and our retail strategy must reflect the needs of the consumers we serve," said Brenda Nakhulo Khaimia of Samsung's mobile division.
TechTrends
