The year 2008 marked a watershed year for the Centre for Poverty Analysis. From what had seemed to be a previously secure financial position, the downturn experienced in 2007 continued and we moved to an extremely uncomfortable situation of tight finances, lack of long term programme funding as well as the departure of a large number of staff, mainly from the Finance and Administration team. The crisis shook CEPA out of the comfortable, almost complacent trajectory that it was on. It saved the organisation – because complacency is inimical to innovation, and comfort to the search for new knowledge. It forced us to re-examine practically everything about CEPA – the structure, the systems, the finances, the values, the ways of working. It opened our eyes to the wider context and even though we have yet to make any radical changes to the institutional and financial concepts that underpin the organisation, 2008 has shown us that these concepts need constant review..

The 2008 CEPA Annual Report is a documentary of this process; we start with the Chairman’s message (in Chapter 1); we discuss the re-orientation of the institutional structure to face the financial and market changes (Chapter 2); we highlight the activities that took place over the year, focusing on what was achieved and what still remains to be achieved and the lessons learnt (Chapter 3); we talk about the contribution of the staff, the board of directors, subscribing members, clients and well wishers who worked through a challenging year (Chapter 4); we take a look at the financial details and performance indicators (Chapter 5); and we end with a look towards the future – where we would like CEPA to go (Executive Director's Message). Strategic re-orienting, lessons learnt and contemplations are featured throughout this Annual Report, but are brought together in the Executive Director’s message that lays down some future prospects for CEPA.

This Annual Report, presented in CD format, has been compiled by the Executive Director and Senior Professionals at CEPA, who carried the huge burden of keeping CEPA afloat this past year, but not without the help of every other member of staff. The story of CEPA in 2008 is a story of loyalty, commitment, hard work and learning, a story that has not yet ended but one that we hope has strengthened CEPA’s capacity to achieve its objectives.