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.

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