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“Despair is Not An Option”, Peter Obi Urges Supporters to Keep Hope Alive Following PEPT Judgment

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The presidential candidate of the Labour Party (LP) Peter Obi, has issued a message of hope to “Obidients” and all his supporters, following the judgment of the Presidential Election Petition Tribunal (PEPT) on Wednesday.

In a message titled: “DESPAIR IS NOT AN OPTION”, shared on X on Friday, the former Anambra State governor urged his supporters to keep hope alive despite the “general despair” emanating from the tribunal’s judgment.

The PEPT, in its judgment, quashed all the charges challenging President Bola Tinubu, upholding his controversial election victory. However, a large section of Nigerians, especially supporters of Obi known as Obidients, had described the judgment as a miscarriage of justice.

Although the LP and Obi have moved to appeal the ruling, many of his supporters have been calling for protest.

However, in his message, Obi said that the dream of a new Nigeria has only been deferred for now by the judgment, but remains alive for all times.

“Today, I want to personally reach out and encourage you all to keep hope alive. Considering the challenges that lie ahead of us as a movement, despair is not an option. Nothing good in life comes easy,” he said.

The two-term former governor said in the journey to actualize “Nigeria of dream” despair or surrender is not an option.

“We set out knowing fully well that the forces we are up against are entrenched and formidable but not insurmountable. They would resist the wind of change and try to push us into surrender or despair. We must not succumb to their design,” he said.

Read his full message below:

My Dear Obidient Family and Supporters,

I trust that you all have listened to, or read my reaction to the judgment delivered by the Presidential Election Petition Court (PEPC) on Wednesday, 6th September 2023.

Understandably, there has been a note of general disappointment within our fold and indeed the general population of Nigerians who hoped that the outcome of the February 25th Presidential election would usher in a new and different Nigeria of our dreams.

That dream has only been deferred for now but remains alive for all times. Since the Tribunal verdict, there has been a note of general despair among the Obidients and the generality of our supporters. I assure you all that on this journey, despair or surrender is not in our options.

Today, I want to personally reach out and encourage you all to keep hope alive. Considering the challenges that lie ahead of us as a movement, despair is not an option.

Nothing good in life comes easy. Throughout history, positive changes come only with sacrifices, perseverance, resilience, and fluctuating fortunes. Right from the onset of our journey, I told you all that the journey upon which we were about to embark was not a short sprint, but a long and tough marathon. It was always going to be difficult, painful, and excruciating.

We set out knowing fully well that the forces we are up against are entrenched and formidable but not insurmountable. They would resist the wind of change and try to push us into surrender or despair. We must not succumb to their design.

I am inspired that we have endured the odds placed in our way at every point. In such a short space of time, we have persevered to get to the point where we cannot be ignored any longer. Therefore, I urge you to abide and never think of giving up.

I wish to assure you that our recent disappointments have inspired me to re-dedicate myself to the cause of building a New Nigeria. For me, rescuing Nigeria is a lifelong commitment, and on this journey, we shall be resolute but orderly, principled but lawful.

I assure you that we shall persist with even greater determination and zeal until we get to our destination. Nigeria must belong to all Nigerians and not to a select few.

Like all of you, I believe fervently that a New Nigeria is POssible. God bless you all and God bless Nigeria.

South African Energy Startup Wetility Raises $48M to Accelerate Growth

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Fund, money cash dollar

Wetility, a South African Solar fintech company that offers solar energy solutions to households and businesses, has announced the raise of R903 million, approximately $48 million to accelerate its growth.

The fundraising comprises R180 million in convertible debt as well as total debt, including a R600 million commercial debt package from Sanlam, a diversified financial services company headquartered in South Africa, and large commercial and development banks.

Reports reveal that Wetility’s first venture debt funding was led by Multichoice via its accelerators program which is part of the Multichoice innovation fund in January 2022.

According to the CEO of Wetility, Vincent Maposa, he said the current funds raised will be used to accelerate the startup’s expansion plans and grow its customer base in South Africa.

Also speaking on the funds raised, Chief of Staff at Wetility, Johanna Hortz said,

“Our recent fundraising is a pivotal moment for Wetility. It is a testament to the trust and confidence our customers, investors, and commercial partners have in our vision. The capital infusion provides us with the means to accelerate our growth and make a substantial impact in South Africa and power the Fintech space”.

Founded in 2019, Wetility flagship product is an all-encompassing digital solar energy management system that allows users to remotely manage power usage. The energy company harnesses the sun’s power to give customers hybrid energy solutions that work together with their power systems.

Wetility also provides customers with a personalized 360 Wetility experience, allowing them to interact, connect, and grow as they need to, when they need to.

PACE is the heartbeat of the Wetility solar solution, consisting of a hybrid inverter, lithium-ion batteries, and switchgear. PACE is intelligently designed to control the energy flow to used homes or businesses and manages load shedding and switching schedules. PACE is powered by the startup’s rooftop PV installations with an offering of 10 10-year warranty.

Wetility is backed by notable partners such as Standard Bank, Sunflower Energy Africa, The Innovation Hub, Sasfin, NBI, Investec, Experian, Multichoice, and Instructured Capital Solutions.

Unlike other providers, Wetility offers unique financing solutions such as monthly payment schemes, tapping into a market segment of consumers who were otherwise unable or hesitant to invest in solar equipment upfront.

The company has achieved this unique financing model through strategic partnerships with a number of South Africa-based enterprises. Wetility’s energy strategies are poised to play a key role in achieving sustainability and energy stabilization in the long run.

The MISSION | Tekedia Capital

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Tekedia Capital offers a specialty investment vehicle (or investment syndicate) which makes it possible for citizens, groups and organizations to co-invest in innovative startups and young companies in Africa and around the world. Capital from these investing entities are pooled together and then invested in a specific company or companies.

Pay for your 4-cycle membership fee. The fee provides access to 4 investment cycles of Tekedia Capital deal flow. We typically do 2-3 cycles per year (i.e. 12 months). After payment, our team will give you access to the deal flow board.

(If after 4 cycles, you can decide not to renew. Yet, you will continue to receive updates on your prior investments. But we will not provide access to new startup deal flows.)

Join the MISSION here

Countdown to the Start of Tekedia Mini-MBA – Monday, Sept 11, 2023

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Do not miss this academic knowledge festival which begins at 12 noon WAT on Monday, Sept 11, 2023 . The knowledge of a people is the wealth of a people. Tekedia Institute is the temple for the mastering of the mechanics of Africa’s entrepreneurial capitalism.

We have got many NEW courses developed by business executives from companies you admire. Go into the future of markets with them. Be a #Champion. Be an #Innovator. Ascend into that New #leadership position. We have got the tools to help you. But you need to come to the festival.

Register today and join us here .

I will be the main compass and I promise you, you will graduate with deeper insights on business, your personal economy and your world. Tekedia Mini-MBA >> the #best school

Kraken Enables PayPal Deposits in UK and Europe, As Ex FTX Exec Pleads Guilty

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Kraken, one of the leading cryptocurrency exchanges in the world, has announced that it is gradually enabling PayPal deposits for its users in the UK and Europe. This is a major milestone for the platform, as it will allow its customers to easily and securely fund their accounts with fiat currency using one of the most popular payment methods in the world.

According to a blog post by Kraken, the PayPal integration will be rolled out in phases, starting with the UK, where users can already deposit GBP via PayPal. The next phase will include Germany, France, Italy and Spain, where users will be able to deposit EUR via PayPal. The final phase will cover the rest of the European countries that Kraken supports.

To use PayPal as a deposit method, users will need to have a verified Kraken account and a verified PayPal account. The minimum deposit amount is 10 GBP or EUR, and the maximum is 35,000 GBP or EUR per transaction. There is also a 0.9% deposit fee, which is lower than most other fiat funding options on Kraken.

Kraken claims that PayPal deposits are fast and convenient, as they only take a few minutes to complete. Users can also benefit from PayPal’s security features, such as buyer protection and fraud prevention. Additionally, users can link their bank accounts or debit cards to their PayPal accounts, which gives them more flexibility and choice when funding their Kraken accounts.

Kraken’s PayPal integration is part of its ongoing efforts to improve its fiat on-ramps and off-ramps, and to make cryptocurrency more accessible and mainstream. Earlier this year, Kraken also launched its mobile app in Europe, which allows users to buy and sell cryptocurrencies on the go. With PayPal deposits, Kraken hopes to attract more users who are looking for a simple and reliable way to enter the crypto space.

Ex-FTX Exec Ryan Salame to plead guilty to Criminal Charges

Ryan Salame, a former executive at the cryptocurrency exchange FTX, is expected to plead guilty to criminal charges related to his involvement in a fraudulent scheme, according to a report by Bloomberg. Salame, who served as the head of over-the-counter trading at FTX until June this year, was arrested in July along with two other individuals for allegedly participating in a conspiracy to defraud investors of more than $20 million.

According to the indictment, Salame and his co-conspirators operated a fake cryptocurrency trading platform called Coinflux, which they used to solicit funds from unsuspecting victims. They allegedly lured investors with false promises of high returns and manipulated the prices of digital assets on the platform. They also allegedly transferred some of the funds to their personal accounts and used them for lavish expenses.

Salame is facing charges of wire fraud, securities fraud, and money laundering, which carry a maximum sentence of 20 years in prison each. He is scheduled to appear in a federal court in Manhattan on September 15, where he is expected to enter a guilty plea, Bloomberg reported, citing unnamed sources familiar with the matter.

FTX, which is one of the largest and fastest-growing cryptocurrency exchanges in the world, has distanced itself from Salame and his alleged crimes. The company said in a statement that it was not aware of Salame’s activities and that it terminated his employment as soon as it learned of his arrest. FTX also said that it cooperated fully with the authorities and that it was not a target of the investigation.

The case against Salame and his co-conspirators is part of a broader crackdown by the U.S. government on fraud and misconduct in the cryptocurrency industry, which has seen a surge in popularity and value in recent years. The authorities have warned investors to be wary of scams and schemes that exploit the hype and volatility of the digital asset market.