Despite increasing global electrification rates, over 700 million people remain without access to electricity, predominantly in Sub-Saharan Africa. Solar minigrids offer a promising solution for rural electrification in areas unlikely to be connected to the national grid. However, existing evaluations of minigrid projects often overlook holistic performance, particularly the social impacts on the communities they serve. This study aims to fill this gap by proposing a novel Key Performance Indicator (KPI) framework that integrates technical, economic, and social metrics, providing a comprehensive assessment of minigrid performance. The research question guiding this study is: How can a holistic KPI framework enhance the understanding of solar minigrid sustainability and impact? To address this, KPIs were designed through a systematic process involving a literature review, stakeholder engagement, and validation through a case study minigrid in Malawi. The framework was applied using data collected from smart meters, remote monitoring, and enumerator surveys. Key findings reveal that while technical performance was robust, economic sustainability requires further optimisation, and social impacts, particularly on gender and community well-being, were significant. This study demonstrates the importance of a balanced evaluation framework that considers all dimensions of minigrid performance. By adopting such a holistic approach, minigrid developers, policymakers, and investors can make more informed decisions, ultimately improving the sustainability and effectiveness of rural electrification projects.