5 things you need to know in SA business today

1. State capture cost the country more than R500bn, President Cyril Ramaphosa told a gathering of international investors at the Financial Times Africa Summit in London yesterday. Government will soon make an announcement on dealing with debt at Eskom, which should make Moody's "happy", he added, and he also confirmed that government is currently engaged in talks with potential strategic equity partners for South African Airways,

2. Pioneer Foods is one step closer to being bought by PepsiCo for about R24.4bn, after fulfilling two conditions. More.

3. Long4Life, which owns Sorbet and Sportmans Warehouse, saw its headline earnings fall from R912m to R875m in the six months to end-August. Across the group, revenue increased by 20% to R1.84bn, but Long4Life’s investments in infrastructure and  store development impacted both margins and returns in the short term. More.

4. The Commission for Conciliation, Mediation and Arbitration reported massive job losses in its annual report for the past year. The CCMA said it had managed to prevent 15 787 retrenchments out of a possible 38 588. More

5. Government is expected to announce shortly that the controversial unabridged birth certificate requirement for foreign minors travelling with foreigner visitors to South Africa has been completely scrapped. More.

The latest manufacturing data show that manufacturing output was lower in August than a year before. Production still hasn't recover to pre-2008 levels. (Source: Statistics SA) 

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Source: Statistics SA

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