On the 15th November 2022, we welcomed the birth of the Earth's eight billionth inhabitant. The UN's Secretary General, Antonio Guterres, marked the occasion with these words: “This is an occasion to celebrate our diversity, recognize our common humanity, and marvel at advancements in health that have extended lifespans and dramatically reduced maternal and child mortality rates. At the same time, it is a reminder of our shared responsibility to care for our planet and a moment to reflect on where we still fall short of our commitments to one another.”

As we reflect on the past year and look ahead to the future, we are pleased to share with you the progress and achievements of KawiSafi's journey in building the off-grid ecosystem in Africa and our contribution to the UN Sustainable Development Goals. Our mission is to generate positive social and environmental impact alongside competitive financial returns. We do this by investing in sustainable enterprises that address clean energy access in Africa.

First and foremost, I would like to express my deepest appreciation for your continued trust and support in KawiSafi. Despite the dynamic and challenging global environment, our unwavering commitment to unlocking Africa's investment potential in order to improve people's lives remains resolute.

In the first days of 2022, few were predicting a European land war. The resulting spike in energy prices caused a significant reset of energy security policies and has spurred new impetus in the role of renewables. But the immediate economic and political impacts are being felt across the African continent. According to the IMF, growth in sub- Saharan Africa in 2022 dropped to 3.6 percent. A worldwide slowdown, supply chain constraints, and global inflation compounded more local shocks such as prolonged droughts. Government debt–built up as a result of COVID relief measures–has grown more expensive and burdensome. The region's most vulnerable people are being hardest hit.