Africa enters 2026 with momentum earned, not promised. The year 2025 marked a clear inflection point. Across the continent, capital stopped chasing narratives and started backing execution. Governments raised the bar on delivery. Public–private partnerships became more structured, more bankable, and more outcome-driven. Projects were judged on operational progress, not press releases. Through MDR Investments, we witnessed this shift first-hand. In 2025, the focus remained on disciplined deployment into long-duration assets—projects aligned with national infrastructure priorities, logistics efficiency, energy security, and industrial capacity. The emphasis was clear: assets that reduce systemic costs, strengthen trade flows, and deliver value across cycles. Africa responded positively to seriousness. What changed in 2025 was not appetite for capital, but expectations of capital. Balance sheets alone were no longer sufficient. Governments demanded governance, timelines, and partners willing to stay through complexity. This evolution has reset the rules of engagement—and it defines 2026. The year ahead is about scaling with control. Africa’s growth in 2026 will be shaped by investors who understand that speed without structure destroys value. The opportunity lies in consolidating infrastructure, expanding downstream integration, and building platforms that enable local participation. Returns will increasingly favour those who combine financial strength with operational depth. In 2026, MDR Investments will continue to prioritise assets that are strategic, bankable, and nationally relevant. The objective is not volume, but quality—projects that integrate with public policy, create employment, and contribute to fiscal resilience. Africa does not need more capital. It needs better capital. I would like to acknowledge and thank our shareholders for their continued confidence and long-term support. Their trust has enabled MDR Investments and Maser Group to pursue disciplined growth, remain patient in execution, and commit capital responsibly across Africa. Enduring partnerships are built on alignment, and this support remains fundamental to our strategy. Alongside economic execution, 2025 also delivered a reminder of responsibility. The launch of the Maser Foundation and our visits to orphanages and community institutions across Africa reframed the meaning of success. These experiences reinforced that development disconnected from people is incomplete. In 2026, the Foundation will expand in a structured manner—focused on child welfare, education access, healthcare support, and community development. This is not charity as optics. It is responsibility as practice. Business builds scale; compassion builds legitimacy. Africa’s next chapter will not be written by those who speak the loudest, but by those who deliver consistently. Influence today is earned through execution, trust, and endurance. The groundwork of 2025 is complete. The mandate of 2026 is clear. Build assets that last. Invest with discipline. Commit with integrity. Prateek Suri, Chairman, Maser Group.