Flash Briefing: Investors cheer SA election; Total bets $8.8bn more on Africa; Uber; Net1

Despite the South African ruling political party’s worst showing in a national election since 1994, global investors celebrated the ANC’s 57.5% victory as an improvement on the 54.5% it polled in the municipal elections three years ago. French oil major Total is doubling down on its African bet. It has agreed to acquire Anadarko’s assets in Mozambique, South Africa, Algeria and Ghana for $8.8bn. Ride hailing business Uber Technologies, whose shares made their long-awaited debut on the New York Stock Exchange on Friday, is off to a slow start as a public company. The struggle for once flourishing Net1 is laid bare in its quarterly results to end March which were released on Friday.