PepsiCo's purchase of Pioneer Foods could be a sign that foreign companies are starting to look at SA more favourably, but it won't necessarily yield investment in bricks and mortar, and the jobs that come with that, which the country desperately needs.

"Investors tend to run with the herd. This is not running with the herd; this is early, opportunistic investment," says Kevin Lings, chief economist at Stanlib Asset Management.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now