Today's Big Stories

Warrent Buffet's son shares some wisdom at the World Economic Forum on Africa

Stephen Grootes is in Kigali, Rwanda for the World Economic Forum on Africa.

Stephen Grootes says he spent time with well known philanthropist Howard Buffett who lives in South Africa.

The son of Warren Buffett had some advice to offer.

The thing about investing in Rwanda is that there are no surprises. He says when the Rwandans promise to do something it is done....this may be a small message about predictability for countries who want those investment dollars.

Stephen Grootes

Minister of Telecommunications Siyabonga Cwele gave a presentation on stage alongside Google, says Grootes.

Cwele made a really interesting point. He said when we rolled out cellphone networks in the early 1990s, companies were forced to build parallel networks. They had to compete against each other...and that pushes up costs. And maybe we have to look at companies sharing infrastructure, and then competing in some other way."

Stephen Grootes

Grootes says he has been very impressed with internet and cellphone connectivity in Kigali.

He brings us the economic indicators.

The rand is 15.06 to the dollar, 17.19 to the euro and 21.74 to the pound.

Brent crude is trading at 47.50 a barrel and gold price is $1272.10 and platinum $1062.35 an ounce.

Listen to the full conversation:


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