BUSINESS
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THE NEW BEGINNINGS EDITION
ISSUE 65
16
COVER STORY
Harald Roesch & Malcolm Briffa Need for Speed
18 Ray de Bono . Awakening Malta’s Soft Power (Part 2) .
08 Bernard Grech New Leader, New Vision?
36 Victor Paul Borg . No Sigh of Releaf .
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Editor’s note — While we can feel that
willing to back the abortion bill – if there
summer is well and truly on the way, another
ever was a misnomer, that one takes the
expectation is also in the air – the looming
cake – so perhaps it’s time for people to ask
sense of election fever. Roadworks are
themselves whether they vote for colour or
happening everywhere, statements are
manifesto?
COVER Harald Roesch — CEO, Melita Read the full story on P.16
being made, and Facebook will soon be full of sponsored posts regaling us with close-
Another hot issue that’s been circulating
up shots of our political options.
is the legalisation of cannabis – this time, it is legalisation and not decriminalisation.
In keeping with the theme, our first
I sometimes wonder whether we’re
interview is with Leader of the Opposition,
missing the wood for the trees by bringing
Dr Bernard Grech – not just a newcomer
up these matters when the country can’t
to the political arena, but also entering
even decide on essential issues like the
at a time when the country is facing
rule of law.
some extremely challenging times on a reputational level that filtrate into various industries potentially causing harm, with the added burden of a
Malta Chamber CEO, Dr Marthese Portelli, talks about COVID-19 and the future of the economy – a future that we’re all longing for, where we can see the end of the pandemic
pandemic that has
and life restarting without the restrictions
no guidebook
that confined us for these past 15 months.
to follow.
The good news is that the active cases
Dr Grech
are decreasing, and the vaccinations are
certainly has
increasing, so something is surely working.
his work cut
Let’s hope that we can maintain this trend
out for him
as it affects our daily lives on every level and
if he intends
not just on an economic scale.
to make a difference and
Although, economically speaking, we
win back all the
know that Malta is a haven for start-ups as
lost voters of the
we see in the mini-interviews with people
past eight years.
who got innovative during the pandemic, as well as the sustainable, green project
The abortion issue has
Immici micro-farming that has opted for
been raised (yet again), this time by
a crowdfunding solution to both promote
Marlene Farrugia. She has tabled a
and back the project.
draft law in parliament to decriminalise abortion – which is not the same as
These people believe in the concept of
legalising abortion. Unfortunately, blanket
Soft Power and drive forward the message
statements tend to be thrown about, and
that the time for action is now. We need to
people fail to read the words accurately and
promote this mindset of activism and work
understand their definitions. This is not a
towards a common goal for the good of
statement in favour or against the bill, but
the community and the country. Malta has
merely an observation regarding how easy
taken a beating in recent years and is only
it is for people to be mentally manipulated.
now emerging from the troughs, though sadly not unscathed. Therefore, it is up to
The political parties have (mostly) had
the people to make their voices heard and
their say about the issue and one wonders
demand the necessary change.
whether this will be a game-changer when the time comes for people to “give their
The question is can we shout loud enough?
No.1 vote”. Many people in Malta follow
And will that be enough?
a political party because their family does so without considering the party’s ideologies. Up till now, it seems that there is only one (newly-formed) party that is
CREDITS E D I TO R Anthony P. Bernard [anthony@moneymag.me] D E S I G N Bloom Creative [bloomcreative.com.mt] · (+356) 9938 9928 P R I N T I N G Print It D I S T R I B U T I O N JD Distributors
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04 · MONEY ISSUE 65
consideration.
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CONTENTS
16
C OV E R S T O RY
Need for speed
28 08
S TA R T- U P S
Micro-farming
POLITICS
New leader, new vision?
Giselle Borg Olivier speaks to Michael Bourne, creator and founder of Immici Micro-Farming, who has been developing sustainable resource technologies to safeguard the planet’s future and encourage people to live more sustainable lives. Giselle Borg Olivier interviews Leader of the Opposition and Nationalist Party Dr Bernard Grech to get his views about the current
MONEY interviews Harald Roesch, chief
political and economic situation on the island,
executive officer, and Malcolm Briffa, sales
his thoughts on taboo topics, and his plans for
director, on Melita’s offerings and support
tackling the post-COVID-19 scenario.
for businesses.
14
BUSINESS
A catalyst of change
18
30
REBRAND
Creativity in the DNA
SOFT POWER
Awakening malta's soft power
Malta must tackle the issue of its soft power as a matter of priority. The time for excuses is over. Ray de Bono explains.
24
S TA R T- U P S
The new wave
A pandemic year certainly wasn’t a time to quell innovation, as Dayna Camilleri Clarke speaks to three exciting new start-ups setting to create
Federica Tadiello spoke to Dr Marthese Portelli, the new chief executive officer of the Malta
a wave of change within the Maltese islands
Keith Pillow speaks about his creative
and beyond.
studio dna after his company rebranded.
32
NOMADS
Route to a nomad visa
Chamber of Commerce, who has a clear and
Federica Tadiello on the newly launched Digital
forward-looking vision about the local economy
Malta Nomads Association which is working on a
and businesses post-pandemic era.
visa for digital nomads.
06 · MONEY ISSUE 65
CONTENTS
CONTRIBUTORS
36
Dayna is a senior speech therapist
CANNABIS
by day and feature writer by night.
No sigh of releaf
When she’s not busy fixing words, she is travelling the world to add to
Victor Paul Borg investigates controversy
her fridge magnet collection.
over whether weed can damage mental health or whether that calls for keeping prohibition in place.
54
BRANDS
Brand new
Digital marketer and content writer with a passion for technology, sustainability and innovation. When Federica’s not working, you can find
40
VISION
her underwater or travelling.
The great reset
JP Fabri on how best Malta can emerge
Giselle is a marketing
stronger after a series of revelations shook
professional, and independent
Malta’s foundations.
writer and proofreader. She runs Content for Success.
44
FINANCE
Turn back the clock Jordan is an economist and
While acknowledging the Government’s
a portfolio manager for a local
remedial action, it is vital that all impacted
asset management company.
stakeholders are roped in to help restore Malta’s standing internationally to re-attract FDI. Jordan Portelli writes. JP is a founding partner
46
at Seed, a multi-disciplinary OPINION
advisory practice.
The lesson of Muscatonomics Richard Muscat Azzopardi on how brands can help restart the economy after the pandemic.
Manuel is a political blogger who writes for The Sunday Times and
64
[manueldelia.com]. FA S H I O N
Top of the notch
MONEY’s pick from the world’s best designers.
Over the last two decades, Ray has directed businesses in the media, marketing and IT fields, focusing mainly on the international market.
Richard is the CEO of Switch — Digital & Brand, a marketing
Manuel Delia's column in this magazine is not famous for optimism. The fact is we haven't
agency that forms part of ICOM, the world's largest network of independent agencies.
walked through the gauntlet of our times yet, and there's no other side for us unless we agree on what surrounds us.
Victor is an investigative journalist with more than two million words and hundreds of pictures to his name, in books, magazines, and newspapers in every corner of the world.
THE NEW BEGINNINGS EDITION · 07
POLITICSI
IPOLITICS
NEW LEADER, NEW VISION? With the country caught up in a metaphorical reputational typhoon, Giselle Borg Olivier interviews Leader of the Opposition and Nationalist Party Dr Bernard Grech to get his views about the current political and economic situation on the island, his thoughts on taboo topics, and his plans for tackling the post-COVID-19 scenario. G The PN has been in the opposition for
and political mileage. On the contrary. The
almost a decade now, and the general
PN is undergoing a continuous process of
feeling is that the Party has lost its
regeneration. More and more individuals,
vigour and political mileage. What is the
particularly youth, are joining the Party
Party’s concrete agenda in terms of the
driven by their will and determination to
environment, and how does it plan to
turn over a new leaf for Malta. We are in
tackle the arbitrary method with which
full force in drafting our electoral
planning permissions seem to be issued?
manifesto, have launched our short and long-term vision for energy, another for
B Firstly, allow me to disagree with your
tourism and spearheaded several national
notion that the Party has lost its vigour
discussions, including the urgent need »
THE NEW BEGINNINGS EDITION · 09
POLITICSI
to reform pre-1995 rent laws, the issue
person should be at the very centre of our
personal use. What are your views on this
of divorce, particularly in shortening the
political decisions, then by implication,
advised change in legislation?
gap in attaining a divorce from one of 4
whatever that person’s view is, decisions
years to 6 months, proposals for proper
being taken by those in politics are aimed
B Following the PN’s stand in 2015, the PN
management of the pandemic and much
towards bettering that person’s life, which
favours de-criminalising the possession
more. Therefore, I can assure you that the
in turn contributes towards the collective
of cannabis for personal and responsible
vigour is there much more than before,
interests of all. Whatever a person’s values
use. The pertinent legislation should also
with the PN Parliamentary Group and party
are, these are based on principles. I am
address the social impact whilst providing
structure loud with activity.
indeed not conservative in thought and
the necessary safeguards against abuse.
in keeping the people’s interest close to
The PN discusses the subject within a
In response to the second part of
heart, I am ready to discuss any issue, and
purposely appointed focus group and will
your question, the environment and
if necessary, decide according to what is
continue consulting with all the relevant
development should not be regarded
best for the country and its people.
stakeholders.
as one against the other. The two are equally important for the country.
G The abortion debate is a hot topic on
G For the past few years, Malta has been
Planning permissions ought to be issued
the country’s political agenda. What is
accused of being a haven of criminal
within the established local plans and
your stance on the issue?
corruption in the international news.
policies. Only in very extreme established
Do you believe that there is a corruption
circumstances development outside the
B I have already expressed myself several
problem on the island, and do you foresee
development zone should be considered.
times about this issue, even before my
a solution to the reputational risk that
Furthermore, we continue to advocate
election as the Nationalist Party leader.
Malta is facing?
more collaboration between the ERA and
I am in favour of the inalienable right to
the PA to strike the right balance.
life, from conception until death. The
B The Prime Minister believes that
PN statute itself unequivocally speaks
everything is business as usual. To this very
G The Nationalist Party lies on the
about “full respect towards the value of
day, he speaks in a surreal tone regarding
liberal-conservative political spectrum;
human life for the inalienable dignity of
serenity and peace of mind. As a matter
its conservative values are clear, but just
every human being”. I am sure that the
of fact, they sold us a dream and gave
how liberal is the Party willing to be?
absolute majority of the population also
us a nightmare. We are all aware of the
reflects this. Despite, it is my obligation
stories of corruption that are emerging
B Labels are for bottles. Every person
as a politician to understand, listen to and
daily. Not only. Government ministers,
embraces a set of values. And since values
discuss the problems and concern voiced
two of which were Labour deputy leaders,
are what forges a community, then every
by those who look at abortion as an option,
are being implicated in criminal activity
person’s views are fundamental for the
and how to create the suitable structures
with Parliament until this very day may be
well-being and the common good of a
to support them.
harbouring criminals.
no such liberal or conservative political
G The government has proposed reform
Furthermore, a Prime Minister’s chief of
spectrum, since when one states that a
on the legalisation of cannabis for
staff, a post equivalent to a super minister,
nation. Therefore, in my view, there is
was arrested, arraigned, charged with criminal activity and sent behind bars. Is this the country people voted for in 2013
The PN is willing to support a citizenship scheme that, whilst attracting investment, does not tarnish Malta’s reputation.
and 2017? Worse than that, the Prime Minister hasn’t, till this very day, even bothered to challenge his Cabinet of Ministers with regards to these allegations. Once again, because, to him, everything is business as usual. This is not the politics I subscribe to. Many are feeling a sense of betrayal, and rightly so. People want us to be a normal country. Joseph Muscat and Robert Abela promised us a bright future. Robert Abela was a Cabinet consultant. All this happened under his watch. This is why they sold us a dream and gave us a nightmare. They not only stole millions,
10 · MONEY ISSUE 65
IPOLITICS
We must re-focus our financial industry and identify new growth sources, such as green financing. but they stole Malta’s soul. This country
guidance of the Attorney General or the
alone. The damage is too extensive that it
deserves another chance and needs to
Commissioner of Police. However, since
needs a broad collective effort - whether
turn a new page. Malta and Gozo need their
the reason behind a presidential pardon,
government, together with the sector
reputation reinstated. Our country needs
subject to lawful conditions, that is, in
itself - accountants, lawyers, practitioners,
to free itself from those selfish politicians
exchange for full testimony, should lead
service providers and the like. Let’s
who have put at stake not only our nation’s
to uncovering further that crime, given all
start with the basics. We need to give a
standing on the international stage but
the pertinent information and advice, it is
message out there that justice truly works
also the hard-earned investments of
another likely legal instrument leading to
in this country. We can hardly expect
thousands of locals.
full justice.
to regain our reputation when financial
If we rise above partisan politics and unite
The concern about this is that the cases
complex structures to siphon off illicitly
under one flag as members of one joint
that are being unravelled in these recent
gained money and ministers accused of
Maltese and European family, we can once
weeks, not necessarily through proper
involvement in violent robberies are still
again turn the key to a better future. But it
and thorough criminal investigations but
roaming around. Until justice is indeed
is us, every one of us, who holds this key.
through the granting of such presidential
served, no one will take us seriously.
Together, we can throw off the shackles
pardons. This is worrying indeed because
that tarnish the collective pride of a
it is clear that the institutions were and are
After and in parallel to this clean-up,
nation and our own political, economic
still not working.
several actions need to be taken. First, we
criminals, ministers accused of creating
need to look at how we appoint people in
and personal stability and security. This, again, is the new page we want to turn for
G The financial services sector is one of
top posts in major institutions such as the
our country.
Malta’s strongest industries contributing
MFSA and the MGA. Part of the problem
approximately 12% to the country’s GDP;
experienced in the past years has been the
G What are your thoughts on granting
however, that sector has also taken a
appointment of people who have landed
presidential pardons to criminals? Is it a
reputational hit in recent years, and the
such posts because of their connections
means to an end or a slippery slope?
industry is anxiously waiting for the
with the Party in government rather than
Moneyval results to be released. What
experience, credibility and achievements
B A presidential pardon or the prerogative
are your long-term plans for rebuilding
in the sector.
of mercy is part of our Constitution. Article
Malta’s reputation in the financial
93 empowers the President to, acting on
services sector?
We also need to revisit whether the current institutions are effectively
the advice by the Prime Minister, “grant to any person convicted of any offence
B As you say, the reputational damage
resourced to carry out the necessary
a pardon, either free or subject to lawful
that this sector has experienced is
enforcement and, most importantly, take
conditions.” In normal circumstances,
immense, and restoring our once
the follow-up action. Let’s not forget
the Prime Minister would be acting upon
pristine reputation of this sector and
that one of Moneyval’s feedback was
the Attorney General’s advice and the
our country, in general, will be our top
that while the number of red flags raised
Commissioner of Police. I am not the
priority. However, let us depart from the
by authorities had increased in the past
Prime Minister, and neither do I have the
context that no stakeholder can do this
years, the Council of Europe’s institution »
THE NEW BEGINNINGS EDITION · 11
POLITICSI
had noted that authorities had failed to act on most of the cases. We need to look well into whether the current institutions and resources are sufficient to handle. We also need to revisit the type of industries we seek to attract to our shores. This does not mean doing away with sectors that deliver growth. But we must review the cardinal rule of quality rather than quantity. We have witnessed rampant licensing in the gaming, financial services and even banking sector, which have attracted ‘clouds’ on our reputation. We need to see who is getting who in Malta and who is undertaking the necessary due diligence processes. Therefore, it is crucial to empower authorities such as the Accountancy Board, which cannot remain in their current composition and size. Such boards need to be financially independent of the government to avoid having the very few putting a dark name on very delicate professions. The banking sector is a crucial player in the financial industry and economy. Clearly, this sector is passing through its most testing times. We need to ensure that banks will continue honouring their shareholders’ interests, protecting their clients, and adhering to their corporate social responsibilities. We must ensure that our economic vision will be in synergy with our banking services, and I
advances in the financial services industry
that, whilst attracting investment, does
am convinced that this can be done with
and its users and supervisors.
not tarnish Malta’s reputation.
a cleaner reputation. Furthermore, we must re-focus our financial industry and
G How do you plan on tackling the IIP
G What are your short-term and long-
identify new growth sources, such as green
issue, which, on the one hand, boosts
term COVID-19 recovery plans for the
financing - financial instruments targeted
Malta’s economy, but on the other hand,
country?
towards sustainable development projects
is suffering from a severe lack of due
and initiatives.
diligence processes?
B Following the pandemic outbreak last year and its aftermath, the landscape in
Additionally, we need to incentivise the
B The PN agrees that there should be
which businesses operate has changed
local industry to go online. The COVID-19
a scheme through which interested
drastically. These developments are
pandemic has transformed businesses
individuals acquire Maltese citizenship.
urging businesses to be flexible in their
and encouraged more people to use online
However, this must be subject to an
day-to-day running. Still, they also
services. Unfortunately, many Maltese
open and transparent process, based
encourage them to immediately adapt to
financial service operators, apart from
on merits, in that a person can acquire
both endogenous and exogenous shocks
banks and larger investment/insurance
citizenship based on their integrity and
for the Maltese economy. The impact on
firms, have not yet made this leap. The
clean record. That the criteria for residency
the Maltese economy was and still is very
accelerating pace of technological
and a genuine link with the country are
significant. It warrants an attitude towards
change is the primary disruptive force in
fulfilled, that the person has invested in
a fiscal policy that assists businesses and
the financial services ecosystem today.
Malta, besides having purchased or rented
employees alike to help them navigate
Together with stakeholders, we need to
property within the jurisdiction. The PN
throughout the storm. The same and
see the implications of these technological
is willing to support a citizenship scheme
equal importance is the need to think
12 · MONEY ISSUE 65
IPOLITICS
and rethink strategically on the post-
Still, we also have a duty to provide well-
pandemic realities. This ensures that the
planned pedestrian areas, green modes
country’s economy will remain fine-tuned
of transport and aesthetically appealing
to the market dynamics of this ‘new’
towns and villages. Of course, there is
normality. The blow in tourism and leaving
much more.
foreigners will have significant economic ramifications on consumption, real estate,
Therefore, it follows that it is now even
retail and related spillover effects. This is
more critical than ever to preserve our
precisely why we have recently launched
identity and cultural heritage. My vision
our short and long-term proposals for the
for Malta to recover and thrive post-
domestic tourism industry’s recovery and
pandemic, in essence, revolves around
sustainability.
five-diamond factors: -
To me, however, this current situation is
• The need for business to take up a more central role in the economy.
not our final destination. We need agility to transform and reengineer our sectors
• The need for all economic players to contribute to a real and effective
to ensure that our collective efforts are
quality leap.
in sync with new market realities. As a country, we need innovative thinking
• The encouragement of creativity and innovation directed towards a drive for
to create new economic niches within
achievement and entrepreneurship.
which Malta has the highest comparative advantage. I believe that national
• An educational system that is modern, relevant, inspiring and holistic.
economic visions should be developed by leaders in business and not by politicians.
• The government needs to play a
There will be instances where consumer
directional supervisory role through
behaviour and preferences may change.
regulation in this process, ensuring
Companies need to understand this and
fairness, proper governance,
transform their products to address those
equity, and an even and socially just
wants and needs. In this process, the
distribution of wealth.
tourist profile may have changed as well, and we need to understand emerging
I want our country to recover with the
travel preferences voiced by foreigners.
least contingencies and to thrive postpandemic. I am more than confident that each of us capabilities, inspirations, and
It is my obligation as a politician to understand, listen to and discuss the problems and concern voiced by those who look at abortion as an option, and how to create the suitable structures to support them.
leadership qualities will strengthen our determination to succeed, no matter how significant the challenges are. Besides, the Opposition is proposing various new economic niches and creating potential ecosystems around establishing Malta as an international education hub, nurturing a strategic vision to develop an ecosystem in health and well-being, a total commitment towards starting ’a green revolution’ in our mentality, hence our plan for energy, value-added and smart manufacturing, the creation of better synergies within the present ecosystems surrounding the maritime sector and finally but not less importantly - digitisation and future technologies will be the backbone of our economic efforts. We want to lead the digital transformation that will take Malta into 2030.
THE NEW BEGINNINGS EDITION · 13
BUSINESS
A catalyst of change If the pandemic has taught us to cope with difficulties, in the post-pandemic era, we must learn how to thrive for excellence. The Malta Chamber of Commerce has always been at the forefront of helping businesses and the local economy, and now more than ever there is a need for a new model to follow and a long-term strategy. Federica Tadiello spoke to Dr Marthese Portelli, the new chief executive officer of the Malta Chamber of Commerce, who has a clear and forward-looking vision about the local economy and businesses post-pandemic era. F Congratulations on your new position.
We are in a very delicate period. The
What are sectors that - in your opinion -
What's on your agenda as the new CEO of
government's decisions regarding vision,
will grow in the Maltese business
the Malta Chamber of Commerce?
strategy, policy, and incentives will
landscape? What are the economies Malta
significantly impact whether businesses
needs to rethink and why?
M It comes naturally to me to say that my
experience a positive outcome or
main objective is to ensure that business
otherwise post COVID-19.
thrives. I want to see businesses of every
M At this point, we need to focus on corporate resilience. Every sector has its
size and sector succeed. I want to help the
F Malta's Tourism Minister Clayton
own needs and challenges and must be
company achieve more beyond whatever
Bartolo has recently announced
evaluated separately. Supply chains, the
one could ever achieve alone. I want to help
incentives up to €200 for tourists coming
workforce, sales and the financial health
our members connect better, nationally
to visit the archipelago this summer. What
of companies have all been impacted.
and internationally, with other businesses
are your thoughts about this move?
We need to rethink every aspect of the
and with opportunities.
business from the business model and M Support in all its different forms
strategy down – this will help us see growth
The Malta Chamber has been representing
is always welcome. However, we must
opportunities. I believe that companies
business since 1848, making it the longest
acknowledge that more needs to be done
that have invested in digitalisation and
established Social Partner in Malta
to sustain the local tourism industry.
varied their skills set likely to gain an advantage over others.
and the highest echelon of business representation. As the Chamber, we need
Tourism continues to be a significant
to continue giving more value to our
pillar of Malta's economic and social
F What would you suggest to local
members. I urge our members and the
development. With a proper and well-
businesses (big or small) to focus on now?
business community to reach out to us –
thought-out support strategy, we can
we are your voice and fully committed to
have diverse Maltese tourism based on a
M During the pandemic, we learned to
promote, encourage and facilitate trade,
quality experience offering that considers
cope. In the post-pandemic world, we
commerce and investment.
factors such as service delivery and
need to learn how to thrive. A company
human resource requirements whilst
will need to re-engineer itself to adapt
F Can you give us an overview of the state
embracing sustainability to ensure
to the new realities and the changing
of the Maltese economy/businesses now?
that we do not return to a period of
customer behaviour. The world has
over-tourism. What matters most is not
changed overnight, and businesses must
M There isn't a hard and fast answer.
the amount given but what it is being
be careful not to focus solely on the short-
Businesses have been impacted
provided for and its timely roll-out.
term struggles at the expense of longterm strategy.
differently. Some have grown during the COVID-19 pandemic. Some have felt the
F Talking about "New Beginnings":
brunt. Some have taken the opportunity to
what's your idea of the "new normal" for
Businesses must focus their efforts on
reinvent themselves and to diversify.
what concerns the Maltese economy?
supporting those key areas that will help
14 · MONEY ISSUE 65
BUSINESS
I believe that companies that have invested in digitalisation and varied their skills set likely to gain an advantage over others. digitalisation and digital transformation. The Malta Chamber has always believed that technology and innovation are key drivers towards an enhanced future. Now more than ever, digitalisation and digital transformation enable more effectiveness, increase efficiency whilst facilitating outreach and implementation across an array of sectors. The wave of change instigated by COVID-19 should be the primary motivator that allows us to rethink the way forward for the years ahead. F What is the Malta Chamber doing/ has done to sustain Maltese businesses during the pandemic? M The Malta Chamber is constantly on the proactive front. To mention one initiative, The Malta Chamber put forward 40 plus proposals in the wake of COVID-19, all of which aim to ensure recovery of our economy. The Malta Chamber has always been the catalyst of change. During these them stabilise in the new environment
M Whereas information is a strategic
challenging times, the Chamber is the
and strategise for what's next. Companies
asset, access to it and its integrity is
prime mover in bringing about the much-
need new skills sets that include social,
critical for strategic decisions. Concerning
needed paradigm shift in how policy is
emotional and digital capabilities.
digitisation, some companies and
thought out and how things are done.
businesses are at the forefront, and others
We are geared to continue developing an
are still lagging.
enterprise culture that creates favourable
F The pandemic speeded up the
economic conditions for the members
digitisation of businesses. Do you think that Malta is at a good point in
However, we need to go beyond
whilst also promoting the interests of the
this process?
digitisation. We should be looking at
wider business community.
THE NEW BEGINNINGS EDITION · 15
C OV E R S T O RY
NEED for SPEED MONEY interviews Harald Roesch, chief executive officer and Malcolm Briffa, director of business services, on Melita’s offerings and support for businesses.
Harald Roesch
M Last year Melita incorporated melita.io, specifically to
offering low energy consumption allowing long battery life for
provide Internet of Things (IoT) connectivity and services. How is
sensors but limited data volumes. However, it is independent of
this venture going, and how do you see this space evolving in the
mobile networks, and we are installing our infrastructure across
coming months?
Germany. We have become a member of the international LoRa Alliance with the aim of extending our business opportunities
HR We have a clear vision for IoT. This is an industry that is
beyond Germany. Customer can manage their sensors through the
shaping itself, full of start-ups and incredible innovation. Our
same melita.io environment, which is fully developed and owned
vision is for melita.io to become an international player. We also
by Melita in Malta.
want to be a platform for local innovators to distribute their solutions internationally - an eco-system for IoT players to offer
M In recent months, Melita has invested in other Maltese
complete solutions to the end customer jointly. In 2020, Melita
companies; Ozone, HandsOn. What is the thinking behind these
increased its presence within the IoT sector by launching a setup
investments, and how have they enhanced Melita’s ability to
in Germany which also brings in a new IoT network technology
support businesses?
called LoRaWAN. This is technically like Narrow Band-IoT (NB-IoT), HR The acquisition of the Ozone operations has equipped Melita with more tools to support its business customers with new offerings. This includes cloud PBX and hardware services, including Wi-Fi for businesses, internal office networking and hospitality TV systems, particularly relevant for the hotel sector
…Melita has invested heavily in its infrastructure to be able to offer its customers premium internet services across the entire country.
and retirement homes. Our investment in Hands-On to support their growth and internationalisation is part of our vision for IoT. They have been operating for over ten years in fleet and asset tracking services and are presently developing various IoT solutions taking advantage of Melita’s NB-IoT network, as well as our distribution partners in Italy and Germany. MB We work with various partners in Malta on multiple IoT use cases leveraging their expertise on top of our connectivity. System integrators with a specialisation in IoT are always welcome to partner with us to assist them in exporting their product or solution internationally.
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C OV E R S T O RY
M Melita is the only provider in Malta able to deliver 1,000
precision productions and applications in automation, drone, and
Megabit internet speeds nationwide. Why is this a benefit for the
healthcare, where remote care and surgeries will become a reality.
Maltese business community?
The increased capacity and speeds also make working remotely seamless with a similar connection to the office. Businesses can
HR Malta’s economic prosperity has always depended
also obtain ‘network slicing’, allowing specialised organisations to
on connectivity, both internally and internationally. The
have their slice of dedicated network resources. The applications
internet, alongside roads, sea and airports, and other forms of
are limitless, and we are inviting those interested in leveraging the
communication, is a vital part of our national infrastructure,
power of 5G to contact us.
allowing businesses to trade in Malta and worldwide. Therefore, fast and reliable internet speeds give the business community a
M The past year has been particularly challenging for the
competitive advantage in a globalised economy.
business community. How has Melita Business supported its business customers during the pandemic, and how do you think
For this reason, Melita has invested heavily in its infrastructure
things will develop as we emerge from this crisis?
to be able to offer its customers premium internet services across the entire country. We are, in fact, the only ISP capable
MB Inevitably, COVID-19 has had a significant impact on local
of delivering 1,000 Megabit speeds nationwide. This speed,
businesses, especially those operating in the tourism industry.
available for both residential and business customers, ensures the
We have taken a clear position to support these businesses by
individual demands of each customer are satisfied. These could
creating more flexible solutions adapted to the current scenario,
range from a basic internet connection for a point-of-sale system
including providing connectivity to enable employees to work
to connecting an office with many employees. The ubiquitous
from home. In practical terms, we have extended credit terms
availability of our gigabit speeds means business is not restricted
or allowed impacted customers to suspend their services
by availability in selecting their preferred office space or shop
temporarily, increased capacity for businesses to support remote
floor. If you’re running multiple offices or a retail network, the
working, and provided cloud telephony solutions for a seamless
experience will also be seamless whether you’re in Bisazza Street,
transition to remote working. Furthermore, Melita’s support goes
Sliema or Kercem, Gozo.
beyond the technological aspect, with several initiatives launched during the past months to support front liners and families in need.
MB Equally important is that we offer business clients a tailormade suite of solutions, including dedicated fibre connections,
HR Looking ahead, we expect remote working to remain an
secure hosting and international connectivity. Depending on
integral part of future business operations. Businesses will need
the client’s requirements, we offer a plethora of services for
to adapt for both office setup and work-from-home, placing
higher uptime and support SLAs with dedicated fibre. The fact
emphasis on connectivity and cyber-security.
that we already support several of Malta’s leading financial, government and gaming institutions is a testament to our level of service and commitment. M 5G is the newest mobile communications technology; how will this help businesses? MB We recognise that connectivity and reliability are the key elements a business customer looks for when searching for mobile service. 5G addresses these needs by providing superfast speeds, significantly lower latency, and an exponential increase in the number of devices it can support on a single antenna. We want our customers to make full use of 5G, so the plans we are offering are designed to make this technology accessible in a very cost-effective manner. The significantly reduced latency
Malcolm Briffa
has massive potential for businesses in
THE NEW BEGINNINGS EDITION · 17
SOFT POWER
AWAKENING MALTA’S SOFT POWER (PART 2) Our first article on soft power voiced various opinions from architects, senior bank executives, entrepreneurs, marketers and start-up owners. The overwhelming message was: ‘let’s get moving, let’s tackle our education system, the curriculum as a priority. A better educated and more cultured population is likely to make better choices.” Their message was loud and clear; the time for action is now. Malta must tackle the issue of its soft power as a matter of priority. The time for excuses is over. Ray de Bono explains.
18 · MONEY ISSUE 65
SOFT POWER
While there are hurdles to face, there
“It’s time to rejuvenate our products”,
is a growing chorus of professionals,
insists Claire. Malta stands to attract
academics and entrepreneurs who not only
a more affluent, high-quality flow of
see potential in Malta’s international image
travellers, which, contrary to mass tourism,
but are actively working to improve it, each
can help sustain our economic well-being
in his or her niche. Malta is blessed with
without hampering the environment. Malta
myriad assets and opportunities, and many
can benefit a lot by “focusing on family,
valuable people are ready, able and willing
sports tourism and travelling specific
to help the island succeed.
focuses”, she maintains.
This month, I enjoyed interviewing a
For my following interview, I wanted to
remarkable group of Maltese business
speak to a young professional to see what the younger generation promises for our
leaders, visionaries, professionals and philanthropists. Here I will share with you
Claire Zammit Xuereb
future. I met with Ian Camilleri Cassar, and I must say that was not let down. Ian
their views, hoping that together we will
is one of four architects behind the viral
help bring about a positive contribution to of Governors. As Chairperson of the AX
project to turn Floriana into a green town.
Foundation, Claire also helps persons
He is fresh, entrepreneurial and radiates
Claire Zammit Xuereb is one of these
living with invisible disabilities, primarily
positive energy.
outstanding leaders. Eloquent and
those on the autism spectrum.
the subject in question.
Ian Camilleri Cassar, along with Anna Gallo,
experienced, she sits at the very top of one of Malta’s largest group of companies
Speaking with Claire gave me a sense of
Bernard Vella and Adam Brincat, all from
operating in the tourism sector. In
optimism. The lady knows her turf. Despite
DHI Periti, originally proposed to convert
addition to her directorship duties with
the challenges facing Malta and the rest
Floriana’s main avenue, St Anne’s Street,
AX Hotels, Claire also sits on the Executive
of Europe, not just due to the COVID-19
into a garden in 2014. Their design would
Board of AX Group and has held various
pandemic, Claire insists that Malta is still
have brought complete pedestrianisation
positions within the Malta Hotels and
in time to reposition itself on the right
and embellishment of the main road, with
Restaurants Association and the ITS Board
track. She is an advocate for the greater
traffic to Valletta passing underground.
involvement of the private sector, as well as the need to strengthen our education, and
The project recently resurfaced in the
she has a lot to share. If one looks at her
media after plans to revitalise Paris’
company and the zeal and enthusiasm with
Champs D’Élysée similarly were in the
which their hotels are run, you can tell that
news. Not only did the Floriana mayor
there’s a lot to learn from AX Group.
endorsed DHI Periti’s concept, but so did the Minister for the Environment Aaron
According to Claire, no longer satisfied
Farrugia, who expressed interest in making
with the same old thing, people seek
the project come true. »
unique and memorable experiences for their travels. Passive holidays lying on a beach in Marbella or shopping in London are all well and good, but many want more. “Experiential travel is the answer; it’s about experiencing something different firsthand.,” she asserts. Examples of such experiential travelling can be those focused on archaeology, history or culture – three areas where Malta has so much to offer. Other ideas include promoting agritourism, wine production-related vacations (like they do in Bordeaux, Florence, Cordoba and even Ian Camilleri Cassar
in nearby Sicily), and the appreciation and promotion of Malta’s culinary repertoire.
THE NEW BEGINNINGS EDITION · 19
SOFT POWER
“There are some brilliant architects and designer in Malta, although showing off
Somewhere along the last 50 years, the Malta construction industry went haywire
their skills is not easy”, Ian says. While budgets for construction and design have gone up, and people are increasingly more quality conscious, in the absence of stricter measures from the authorities to curtailing finishings, aesthetics and the need for more open spaces, developers often go for cheaper solutions. The prevailing drive for more buildings is not driven by a zeal for sustained urban development, nor is it the result of increased demand; it’s borne out of greed and the lack of alternative investment
had this to say about Valletta: “We had
develop and sustain Malta’s soft power
opportunities.
an opportunity to turn Is-Suq (the Old
would be an important milestone. The
Market), located within the centre of our
Malta Chamber of Commerce, Enterprise
It appears that up till the 1970s, Malta’s
capital, into an art or culture museum, yet
and Industry is the independent voice of
architecture followed a more European
what did we choose? We made it into a
the private sector in Malta. It is the longest
approach in its style, use of materials
food court instead”.
established social partner in Malta – having been launched in 1848. It is the only
and prioritising for open (green) space. Since then, driven by the limestone quarry
There seems to be growing consensus
employer organisation recognised by the
industry lobby and enthusiasm for creating
amongst stakeholders and the public that
laws of Malta. Because of its merger with
wealth through rampant construction,
Malta needs more open spaces, especially
the Federation of Industry (FOI) in 2009,
successive governments have changed
greenery and, more importantly, trees.
The Malta Chamber is today the strongest
building laws to maximise space use while
However, we keep seeing the destruction
represented employers’ body on national
ignoring or softening their approach to
of green areas, development within ODZs,
boards such as the MCESD, ERB, ME,
maintaining Malta’s image as a Southern
and uncontrolled building practices.
MEUSAC and others.
European state. “Open space is not a choice but a human
“Here in Malta, we tend to be
Looking at buildings erected in the late
need,” stressed the young architect. Three
unconditionally ‘for’ or ‘opposed
80s, during the 90s and early 2000s,
primary benefits arise from open spaces:
to’ everything that comes up for
one sees a bland, beige Middle-Eastern
(i) Social – self of belonging, (ii) Health –
consideration. The highly divisive
influence creeping in. Is it just a question
activity, better air, mental stability, and
national debate that characterised the
of low budgets? There seems to be
(iii) Economical – as the value of properties
run-up to our EU accession is a classic
ignorance or, at best, little concern about
rises, boosting enterprise and higher
example. There are very few things that
the cultural and historical context when it
standards of living.
see us pull together as a nation with a clear commitment to prioritising the
comes to architecture and building styles in Malta. Why is this?
I can see how Ian’s Floriana project, right
national interest, over and above any other
at the capital city gates, could spell such a
consideration”.
“Yes, unfortunately, the 1980s was a
revolutionary change in how we perceive
downhill turn with regards to design. The
architecture and construction as a force
best example is Bugibba. One only has to
for good in society. Hope springs eternal!
compare a Bugibba flat façade from the 1980s with a traditional Maltese double-
To broaden the debate on Malta’s
fronted façade from the early 1900s, like
soft power, I also had the privilege of
Hamrun,” comments Ian, “Somewhere
interviewing the incoming president of the
along the last 50 years, Malta's
Malta Chamber, Marisa Xuereb. A Masters
construction industry went haywire -
graduate in Economics, Marisa hails from
or shall we say, suffered from a lack of
a long, successful career in business
direction, poor regulation and mediocre
management, particularly in the export
enforcement.”
sector.
Stressing on the lack of vision as being
Having such an influential body such as
the root of our current predicament, Ian
the Malta Chamber behind the drive to
20 · MONEY ISSUE 65
Marisa Xuereb
SOFT POWER
“The most impactful things that happened in Malta in the last few years have unfortunately polarised us even more. In any other mature democracies, the murder of a journalist would have seen the country unite behind condemning the act, quite irrespective of petty personal likes and dislikes of the victim’s personality. What we witnessed was quite the opposite, and that weakened us as a nation,” Marisa states. I feel there is much healing that needs to take place for the country to move forward. We have inflicted much damage on ourselves by failing to be unequivocally on what is morally right and morally wrong. A strong brand is built on a clear set of values that all those who identify with the brand embrace. Steve Mercieca The Malta Chamber President believes that the priority is to identify these values and ensure that they are being upheld at
reasons are not representative of the
for the future that enjoys broad support
all levels of governance, across public and
whole business community, and, as we
across the political spectrum.”
private organisations, as well as by well-
champion ethical business, more and
meaning citizens. It is only at that stage
more honest business people are coming
I could not complete my piece without
that we can converge towards the new
forward and lending a hand in rebuilding
speaking to an exponent of Malta’s
‘Brand Malta’:
Malta’s reputation.
real estate sector, such as the young
“What is becoming clear to us at the
“It is certainly something that we can
debating Malta’s image, we often pick on
Malta Chamber of Commerce, Enterprise
only be successful at if we work together,
construction and property development,
and Industry are that businesspeople
with commitment and perseverance, with
so it is essential to hear what he must say.
who make headlines for the wrong
immediate urgency and with a clear vision
entrepreneur Steve Mercieca. When
As the chief executive officer and co-founder of QuickLets and Zanzi Homes, or the QLZH group, he has grown exponentially, taking his brand overseas to countries such as Cyprus. With a team of just under 600 specialists, 37 offices and over 50,000 properties
...businesspeople who make headlines for the wrong reasons are not representative of the whole business community
on his companies’ books, Steve is one of Malta’s rising stars on the business front, successful in his own right but also altruistic. I see Steve’s energy and business drive as being positively contagious. While determined to make his business flourish, he actively works to share his success with the community. In 2019, the QLZH Foundation embarked on a project to plant 1 million trees in Malta, quickly supported by Malta’s largest betting firm Betsson Group, and many other sponsors. »
THE NEW BEGINNINGS EDITION · 21
SOFT POWER
When asked about how development
“As a small island state, Malta’s success
and the environment can be better
rests squarely on our collective ability
harmonised, Steve was optimistic about
to attract new investment. In a world
the changes taking place in Malta. In his
where capital and labour are extremely
view, both the Maltese people and the
mobile, we need to ensure that we
authorities have become more aware of
nurture such conditions, including
the need to protect and embellish our
our ability to supply talent with the
environment, especially our heritage, ODZ
required skill sets, remain accessible
and village cores.
and responsive in terms of regulatory and administrative institutions, and
“What Malta needs is quality development,”
constantly be ahead of the game,” JP
he stressed, adding that developing taller
says.
buildings, for instance, could mean less use of land, nicer edifices and more open
Working on Malta’s soft power theme
spaces, offering more amenities and a
resulted in me meeting various industry
better overall urban environment”.
leaders, exponents, and professionals from multiple sectors.
Steve comes across as a good role model
JP Fabri
for young people thinking of going into
There is a growing consensus that Malta
business and as an example for other
needs a national effort to develop,
established entrepreneurs. Malta stands to
launch and sustain a cohesive national
gain so much from Steve’s example, and I’m
brand identity. All the people I spoke to
sure that we’ll be hearing more about his
expressed strong opinions on the need
endeavours.
for Malta to make inroads, whereas soft power is concerned. What seems to be
Among other initiatives, Steve’s QLZH Foundation team members travelled
Finally, I raised the question of Malta’s soft
lacking is a concerted effort, a project
to Ghana to help set up an internet
power with economist JP Fabri. We spoke
leader - an orchestra conductor - to
connection for two communities and
about Malta’s FDI attractiveness, fiscal
harmonise all the skill sets at our disposal
present them with a whole new library
integrity, ease of doing business here.
towards the common goal.
continues to support children’s education
It appears that Malta’s geographical
Should the government or the industry
in Ghana with every property they rent.
limitations can also work in its favour.
champion the drive towards the
History has shown that the island and
strengthening of Malta’s soft power?
Despite the ongoing pandemic
its economy are resilient; our small size
Who should take the lead? The prevailing
challenges, the real estate market is
makes us ‘nimble’ and can react to market
opinion out there is that a public-private
booming, and Steve Mercieca has all the
needs much sooner than other, larger EU
partnership model is the best way ahead
reasons to be very upbeat about Malta’s
countries; this plays to our advantage,
for success. Now, who will make the first
economic prospects.
making us more competitive.
move forward?
of textbooks for their school. QLZH
Malta’s success rests squarely on our collective ability to attract new investment
22 · MONEY ISSUE 65
S TA R T- U P S
The New Wave A pandemic year certainly wasn’t a time to quell innovation, as Dayna Camilleri Clarke speaks to three exciting new start-ups setting to create a wave of change within the Maltese islands and beyond.
James Camilleri Co-founder & CEO, Fyorin
core products and create another revenue stream.
of face-to-face meetings. On the other hand, with digitalisation in finance being fast-forwarded thanks
D Can you tell us a little about you and your background?
D What challenges have you found locally along the way?
to COVID-19, this presented us with new opportunities which we had to act swiftly upon.
J I am the co-founder and CEO of a Fintech start-up, Fyorin. With all the
J Like every other start-up, the challenges that we’ve encountered
D What feedback have you been getting, and what’s next on the horizon for you?
co-founding team being Maltese, Fyorin is
are funding and hiring the best talent.
changing the fabric of business banking on
However, Malta Enterprise believed in our
an international level.
start-up early and supported us financially.
J So far, we have beta launched our
As for recruitment, we are happy that
product. However, the fact that we remove
Before Fyorin, I had spent a decade doing
we managed to find great talent locally.
all the complexities and hurdles around
international business, on a B2B level, in
Nevertheless, we are still looking for more
corporate banking whilst our customers
sales and marketing and business strategy.
superstars to join our team.
are being served with several financial products tailored for their needs has
Whereby I was instrumental in generating millions of euros for the companies I
D How have you adapted to COVID-19?
been generating a lot of interest. We are also getting new business from referred
represented. My industry experience ranges from IT software to Fintech to
J COVID-19 presented us with a
customers, which fills us with a lot of
iGaming.
challenge but also with an opportunity.
encouragement. As for the next steps, we
As for the former, we had to find new
will be rolling out our solution in Malta and
D Could you kindly tell us more about
ways to reach potential new investors,
expanding within Europe, where we already
what Fyorin is?
at an international level, in the absence
started to make inroads.
J Fyorin is a business banking ecosystem. We connect financial institutions (banks, EMIs, etc.) worldwide into a single network. Making business banking for SMEs easier, faster and most of all, less painful. With Fyorin, we offer SMEs one place to go to for all their business banking needs, from the instant opening of a business account in 40+ different currencies to corporate cards to invoice financing. All our services could be offered by various financial providers on the point of need – being seamless to SMEs but acting as one for reconciliation and funds management. On the other hand, for financial institutions with our ecosystem, we increase revenues for their
24 · MONEY ISSUE 65
S TA R T- U P S
Stefan Debattista Co-founder, ShopShape
regular maintenance and upgrades. Not anymore! With ShopShape, our stress-free,
D Can you tell us a little about you and your background?
easy to use software, anyone can build and manage their online shop with no setup costs.
S ShowsHappening launched in 2013. Mark, my business partner
Businesses can pick a plan after they sell their first product online.
and I grew the company and employed
An eCommerce website is like a plant.
two more people; a front-end developer
If you plant something in some soil and
and a graphic designer. When COVID-19
water it occasionally, you might be lucky
erupted in March, we decided to apply our
enough for it to grow. ShopShape is like a
knowledge to create a new eCommerce
greenhouse with irrigation, suitable soil,
platform catapulting us right back into
fans and temperature control.
start-up mode. We call our new platform ShopShape. 2020 was spent upgrading
D What challenges have you found locally
waiting in a shop for a client to walk in. As
ShowsHappening so that when COVID-19
along the way?
for prescriptions? What’s better? A paper
eventually ends, we are ready to come
or an app where every doctor can issue
back with a bang, and we started to
S Losing 100% of our event revenue
prescriptions and see when, where and by
build ShopShape. By the end of 2020,
overnight and keeping the team together
who they are being used. Still, though, it’s
we finished a major overhaul of the front
has been the biggest challenge. I can’t
illegal to sell paracetamol online in Malta.
end ShowsHappening and shifted our
imagine how we would feel if we waited for
focus back onto ShopShape. We are now
events to start again. Sure, there are online
launching our first shops.
events we could have tried to focus on. But
D Could you kindly tell us more about
D How have you adapted to COVID-19?
the key is in the name, and shows are not
S ShopShape is the adaptation. Our world
happening right now.
is changing fast, and so should every small
what ShopShape is?
business. There are two types of companies, those
S ShopShape lets anyone build a
that believe in eCommerce and the
D What feedback have you been getting,
professional eCommerce store instantly.
majority that are not yet convinced. Most
and what’s next on the horizon for you?
Having a great online shop before the
businesses in Malta think that eCommerce
pandemic was significant. Now it’s an
is not for them because they can’t see how
S So far, so good; we have launched
absolute must. The eCommerce market
software can make their work processes
our first shop and have another 5 in the
is exploding; over 80% of internet users
more efficient. The problem is that many
pipeline. The next step is to integrate
in the EU use the internet to purchase
businesses that do believe in eCommerce
with delivery companies and continue
online. Although there are various ways
have already invested in some eCommerce
to onboard new shops. We are working
to set up an online store, most of them
site, so getting them to rethink their
with very small shops, and once we prove
require technical experience and time,
decision is not easy. As for the rest of the
ourselves, we hope to start tackling bigger
which means large upfront budgets,
businesses who are not online, the key
shops. »
challenge is educating them and showing them that selling online will make their life easier, not harder. For example, when I was at a grocer showing them how to upload their products to the site, the pharmacists from next door came around to look. Let’s put aside the fact that it is still illegal to sell medicine online in Malta. The pharmacist rejected the idea of selling online “because she already works too hard”, however, I ask, what is more efficient, watching and growing your shop from your laptop from wherever you like, selling to an unlimited client base 24h a day, or
THE NEW BEGINNINGS EDITION · 25
S TA R T- U P S
Michaela Micallef Founder & CEO, Seeboo
company that primarily tackles
incentives being presented for SMEs
app development. We aim
like ourselves. Of course, the need for
to create value-adding
online services such as shopping has also
D Can you tell us a little about
technology to give our clients’
become more critical than ever. However,
you and your background?
online presence a boost
all our work has been shifted to remote and
primarily in mobile apps at
requires that extra effort in communication
M My name is Michaela, but everyone knows me as Mick. I’m the CEO and founder of Hanitech Solutions,
affordable prices and offer other
on all fronts.
services for their companies, such as web development.
D What feedback have you been getting, and what’s next on the horizon for you?
under which Seeboo, our software house, operates as of 2020. As a postgraduate
D What challenges have you found
biomedical engineer, having graduated
locally along the way?
from Imperial College last year, I founded
M Our feedback has been positive. We are a small team but eager to set ourselves
this company alongside my partner Benji
M The most significant challenge we’ve
apart with our affordable business model
who is currently studying computer
faced is people’s resistance to change.
and agile solutions. Using a lean product
engineering. We kicked off Seeboo whilst
Many companies are still reluctant
development cycle, we aim to design and
completing my Master’s dissertation and
to accept that, in the face of a global
launch our products in short lead times, as
working part-time in the industry through
pandemic, while also living in an era ruled
seen with the app ‘Krizi’, created alongside
the MITA #YouStartIt Validator and later
by smartphones, mobile apps are the way
an experienced doctor. Our biggest goal
#YouStartIt Accelerator, through which we
forward, especially for larger retailers.
right now is to get our name out there
secured €30,000 in seed funding.
and steadily grow our team. We will be D How have you adapted to COVID-19?
about Seeboo? M Seeboo is a software development
26 · MONEY ISSUE 65
primarily focusing on marketing and on our internal projects over the summer, which
D Could you kindly tell us more M We were lucky enough that the
will ultimately benefit service providers
pandemic provided many companies
all over the island. However, for that, you’ll
unique opportunities, especially with
have to stay tuned.
S TA R T- U P S
Michael Mercieca
preferences. GigWorkers can set
Co-founder, Gigify
their actual availability, hourly rate and the types of skills they would like to monetise.
Gigify was first conceived
They can even choose where
at the end of 2019 with Ben
they would like to work in Malta,
Frendo and his close friend and
reducing longer commutes, air
business partner Claude Grech.
pollution, and traffic buildup. We’ve
They began considering the many benefits of various app-based services
also included several smart tech tools to
and become increasingly motivated to
offer more options and ensure that gigs
bring the benefits of the gig economy to
run as smoothly as possible.
more people in Malta. Ben’s brother (Steve
Mercieca) and Claude’s brother (Kashel
D What challenges have you found
Grech) shared the same passion and
locally along the way?
came aboard, and together they created Gigify with the ambition to bring the best
M The gig economy is relatively young
aspects of the gig economy to Malta.
and constantly evolving, so some aspects of setting up the business required far more research, decision-making and innovation than usual. There was also the challenge of building the Gigify app and website. We built the Gigify system from the bottom-up to ensure that we consider all important aspects of the Customer and GigWorker journey for a smoother, more efficient user experience. M We’re running a recruitment drive D How have you adapted to COVID-19?
to educate the market about Gigify and engage as much talent as possible
M The gig economy was conceived in
before launching Gigify into homes
financially challenging times as a way
across Malta. We’ve had an excellent
of surviving the economic crisis. So,
response and gained some precious
the Gigify business model is perfectly
insights and feedback from prospective
adapted to these socio-economy
gig workers. In the coming weeks, we’ll
challenges. With its use of technology to
be launching Gigify to customers across
empowering individuals and drive direct
the island, so watch this space for a new
business transactions, gig economy
and improved way of getting things
platforms are very well adapted to our
done around the home.
unfortunate ‘new normal’. When it comes to our daily business D Could you kindly tell us more about
operations, we
what Gigify is?
have been taking all necessary
M Gigify is an on-demand service
precautions and
booking platform that connects
working remotely
customers who need help with jobs
to ensure the safety
around the home with freelances, aka
of our team.
‘GigWorkers’. Customers get a more
convenient and truly on-demand way of
D What feedback
booking at-home services. At the same
have you been
time, GigWorkers enjoy various benefits
getting, and what’s
Gigify Co-founders (front to back): Michael Mercieca,
that help them get more business with
next on the horizon
Claude Grech, Steve Mercieca, and Kashel Grech
next-level control over their time and work
for you?
THE NEW BEGINNINGS EDITION · 27
S TA R T- U P S I
MICROFARMING ACHIEVING SUSTAINABILITY AT COMMUNITY LEVEL Giselle Borg Olivier speaks to Michael Bourne, creator and founder of Immici Micro-Farming, who has been developing sustainable resource technologies to safeguard the planet’s future and encourages people to live more sustainable lives.
Climate change, the environment, going
sustainable did not mean sacrificing the
green – the world has become much more
things we enjoy. He began to research the
aware of the importance of sustainability
problem and with a clear vision in creating
and preserving what nature offers us.
diverse cyclical systems that could
Awareness is an essential first step in this
support each other and work through the
long-term goal of caring for the planet, but
regeneration of waste. This means that
what comes next? What can people do to
humans are part of the fully circular system.
truly make a difference? Michael explained that once the The simple answer to that is anything
technology is in place, conventional
and everything. Every person affects the
aquaponics can produce six to ten times
environment because no matter how small
more produce per square metre when
the action is (be it positive or negative), if
compared to soil-based agriculture – and
everyone does that same little activity, the
it uses between 90-97% less water. The
ripple effect springs into action culminating
first Immici micro-farm will develop from
in a substantial impact on the planet.
20sqm to 90sqm or more of growing area within the first 12 months. Meanwhile, for
To put this into more concrete terms
fish and seafood crops, the quantity can
and provide an example of how to live a
range between 25kg and 60kg per cubic
more sustainable life, consider the idea
metre and, depending on the species,
of micro-farming. As the name suggests,
can take from 6-24 months to reach a
micro-farming allows communities to grow
marketable size.
their food – a bespoke form of the farm-totable concept. Immici micro-farms provide
If you think that these figures are
sustainable food full of natural goodness
impressive but are still unsure how they
and flavour. This is done using aquaponics
translate in real-life food terms, Michael
(a food production system using water)
described the process using basil as an
and other integrated natural processes
example. Basil can be harvested every 28
supported by Immici technology.
days producing between four and seven kilograms per square metre; a 90sqm
28 · MONEY ISSUE 65
Michael Bourne, the founder and creator
micro-farm could produce as much as
of Immici micro-farms, explained that
20kg of basil per day. Clearly, Immici
he had been thinking about achieving
micro-farms will be diversifying products,
a sustainable lifestyle for a long time;
so there won’t be an influx of only one
however, he wanted to ensure that being
product. Other crops also grow faster and
I S TA R T- U P S
Luna tasting the first aquaponic strawberry
thrive in this system, more than when using
Micro-farming allows for greater control
That’s not a world that I want my children
conventional farming methods.
of the growing conditions and offers a
and their descendants to face. So, when
choice in the location of food production,
real solutions are available, they need to
For fish and seafood, the operation begins
meaning that the food can be grown within
be embraced and supported. That said, we
with nearly three cubic metres to 18 cubic
the local community of those who will be
aim to offer better food, for a better future
metres of water in the first 12 months. By
eating it. Moreover, suppose the operation
without a premium cost,” he says.
staggering the crops in any given 10-day
allows for the input of local organic waste
period, if the whole plant crop were to be
back into that system. In that case, there is
As with all new technology and ideas,
basil, the micro-farm could produce 15kg
exponential mitigation of carbon impact
obstacles are bound to arise. Michael
per day by the end of the first year.
through the reduction of food waste and
clarified that he aimed to solve the
food miles.
remaining problems of the best incumbent technologies, which, while being a very
The fish and seafood crops would take longer to grow out. Still, then harvesting
Michael understands that in a finite
positive outlook, also means that the
would again be staggered to ensure
world, there must be cycles for life to be
difficulties one faces are unidentifiable and
regular availability of specimens ready to
sustainable. “If we implement the right
not ones that can be easily anticipated.
be harvested to order. The actual operation
cycles with enough diversity, it can be
will have more diversity and products, but
fully self-sufficient. We must remember
“The priority is to constantly learn and
the ideal scenario would be to allow a wide
that our own lives are part of the cycle. If
develop, to be ready to face emergent
selection of crops in their prime condition
we don’t have the type of food production
challenges”, he said.
in any given 10-day period. When the
that Immici offers, what will we do when
hub reaches
the unsustainable food model breaks?
Michael’s dream is for people to share
its maximum
his views and vision on sustainability and
production, then
do their bit to help the lives of those who
satellite microfarms will be established per each locality’s demand and the availability of suitable property closest to the demand centre to reduce food miles when meeting the needs of people.
We can thrive sustainably if we simply choose to care about how our food is produced and act accordingly.
are on the planet today and the lives of those who will follow us – “We can thrive sustainably if we simply choose to care about how our food is produced and act accordingly.”
Immici micro-farms is currently raising funds through a crowdfunding campaign on Zaar. If you would like to sponsor this project and be part of a sustainable future, go to [www.zaar.com.mt] and pledge.
THE NEW BEGINNINGS EDITION · 29
REBRAND
Creativity Keith Pillow speaks about his creative studio dna after his company rebranded.
IN THE
DNA
M What brought about the rebranding, and what is the narrative behind the new logo and name of the company DNA? K After 26 years in business, and since I took over in 2019, it felt that it was about time to be fresh, new and relevant for the future, leaving the past behind, moving on to a new chapter. When I took over the business in October 2019, I took over the leadership of a team of creative and experienced individuals with the idea of promoting and nurturing a new start-up mentality. When the rebranding came out, I wanted to make sure that we are out there, full of energy, the same way we were back more than 20 years ago, with the only difference that we now know more, we are more experienced and have the credibility that is required in such a competitive industry. I want us to be fun, cool, and attractive to our clients and attract the best talent in the industry. Above all, I wanted to give the team a brand that they can associate themselves with. Being part of the DAAA Group, we wanted both entities, DAAA Haus and DNA, whilst having their own identities and being on the same page, brother and sister, speaking the same language. During several internal brainstorming sessions, we all came up with a few suggestions. Some were good, but in the end, DNA stood out from them all. It meant something too. At first, it started as an acronym for Design New Agency, Digital New Agency and DAAA New Agency. Still, most importantly, it meant we projected ourselves as the people with that unique creative DNA. Then one day, whilst listening to Bruce Springsteen during a live performance intro to his masterpiece ‘Growing Up’, I felt that I had
attention and win people’s trust. It does not matter where our
made the right choice. He spoke about DNA in such a meaningful
clients are from or what line of business they are in; the goal is to
way that it made me think about how it represented the team and
stimulate and enhance their brand experience. We build brands
me. He started the concert with a poetic definition of his creative
that cut through the noise by utilising a combination of well-
magical dna: “dna is the creative fire in your belly that comes in
formed strategy, extensive expertise, wild creativity and the
handy when facing 80,000 screaming rock and roll fans.”
eagerness to deliver memorable brand stories that drive sales
through brand trust. Our operation is across different cultures
M What does your creative studio offer to clients which is not
and times zones; hence we move at a relentless pace to meet any
the usual run of the mill?
contingencies. The efficiency in our execution stems from the
wealth of knowledge gained from a diverse range of industries
K As a multidisciplinary creative studio, we help businesses
built over the years in operation. Being an international branding
cultivate and nourish their brands. We know that not all brands
and digital media agency, we use all sorts of data to continuously
are created equal, and only some manage to get people’s
analyse consumer behaviour trends, conduct market research,
30 · MONEY ISSUE 65
REBRAND
carry out the necessary audits and adapt our creative for each brand and task to make sure that our offering is as impactful as it is meaningful. We make sure that each project we take on presents an emotional story that people understand, appreciate and relate to. M Do you feel a website is still a robust platform for businesses or is social media replacing the website trend? K Whilst social media is very powerful and has its multitude of advantages, we believe that having a website gives your brand an online presence with credibility that social media cannot achieve. Websites are today’s business cards and today’s shops; you cannot have one, especially in the retail
The efficiency in our execution stems from the wealth of knowledge gained from a diverse range of industries built over the last 26 years in operation. business. Therefore, a website, together with the presence of
K It is the being different that catches the eye...less is more
a selected choice of the relevant social media platforms, will
...less noise screams out louder. In today’s day and age, a lot is
maximise the impact, brand awareness, and reliability overall.
going on, and especially with more and more time spent online,
In fact, we offer both services, apart from a myriad of others,
it is imperative to come up with creative ways to get the public’s
to our clients depending on their needs. We could create and
attention and engage their interest. Understanding the target
design their website and set up and manage their social media
audience and addressing them will ensure that campaigns and
platforms which would also include designing and scheduling
material are relevant and stimulating.
content aiming to achieve the business goal at the time,
whether it is recognition, sales increase, website drive and
M What’s the best way to boost creativity?
much more.
M In your opinion, is the public’s attention span decreasing
building trust whilst always aiming higher, believing in one’s
due to the load of newsfeed people consume daily? What
dreams without micromanaging has proved to be a sure way to
catches the eye of audiences?
keep the fire alive.
K Allowing the team to discover and explore, encourage learning,
THE NEW BEGINNINGS EDITION · 31
NOMADS
ROUTE TO A NOMAD VISA There’s no point in digital nomads staying in a cold and grey city, paying crazy money for a tiny flat to live in when they can easily do the same job in a warm and less expensive country. Federica Tadiello on the newly launched Digital Malta Nomads Association which is working on a visa for digital nomads. We will never forget 2020 as the year
one of the very first website providing
crazy money for a tiny flat to live in
of COVID-19 and as the year where
digital nomads with a comprehensive
when they can easily do the same job
people realised that it's possible to work
stream of information. "Remote work
in a warm and less expensive country.
somewhere else than the usual office.
had gone mainstream in 2020, and with
In Italy, for example, there has been a
"If I can work from home, why can't I
that location independence suddenly
massive internal migration from the
work from another city or country for a
has become a possibility for millions of
northern city of Milan - the financial hub
while?" That's what many people started
workers,” Levels adds.
of the country - to the picturesque and warmer towns in the sunny south: this
questioning, and that's why they began to approach the world of "digital nomads"
What is curious to notice here is that
phenomenon is locally called "south
or remote workers. Although this
southern European countries seem to
working". Some governments worldwide
phenomenon is not new, the pandemic
get their vengeance now: in the past
have immediately seen an opportunity
has significantly boosted this way of
decades, Northern European countries
in this increasing trend and started
working and living. “In just a few months,
have always been the most attractive
introducing some benefits for this
the number of people working remotely
places to work, with higher salaries, more
category, like a special visa or flexible tax
ballooned to 125 million people in Europe
opportunities and a lower unemployment
schemes. Greece, Portugal and Croatia
and North America, over five times the
rate than Southern Europe. Now, many
have already launched their programs for
amount before the pandemic,” says
people realise that there's no point in
remote workers, and it seems that Malta
Pieter Levels, founder of Nomadlist.com,
staying in a cold and grey city, paying
is on its way too.
32 · MONEY ISSUE 65
NOMADS
We spoke to Daniel Goebel, one of the
a visa for digital nomads. This project is
founders of the Malta Digital Nomads
still at its early stage, and there will be
Association (www.nomadisland.org). This
more news in the upcoming weeks. For the
new-born organisation aims to promote
moment, I can say that it will be different
Malta and Gozo as the next hotspot for
from the other Digital Nomad Visa that
remote workers, and it immediately
other countries are issuing.
grabbed Prime Minister Robert Abela's We also started a dialogue with other
attention.
Government entities because we believe Daniel, when was MDNA founded
that a few relevant laws are not enough to
and what has been the Government's
attract this audience. We aim to engage
response to it?
also who oversees the infrastructure, to guarantee reliable and fast Wi-Fi access
It all started with an open letter we
Daniel Goebel
and proper working spaces. These can be like landing pads to attract remote
wrote. It published online in December,
workers.
with the title ‘How Malta Can Fix Its Global Reputation And Rebuild Its Economy By
Economy Silvio Schembri, who said, "The
Becoming The New (Digital) Homebase
concept of remote working interests me,
How many remote workers have been in
For The First Billion Of Remote Workers
and we've recently been working on a
Malta in the last five years, and what can
By 2030’. Prime Minister Robert Abela
framework to attract digital nomads. Our
they find on the island to suit their needs?
promptly followed up, sharing his support
strategic location has attracted some of
for our ideas, and so did the Minister of
history's greatest traders and seafarers,
Even though it's hard to track an exact
and, as an island state with no natural
number, I can say that in the last five years,
resources, Malta's economy thrived and
at least a few thousands of remote workers
continues to thrive on trade. In the coming
spent some time on the island. Malta has
days, we'll announce measures to utilise
the charm of being an island, but at the
this phenomenon in Malta." In January,
same time, it is very well-connected to
this year, together with two other young
Europe and beyond. Also, it is possible
entrepreneurs, Minou Schillings and Loïc
to live the "city life" but at the same time
Moncany, we founded the Malta Digital
being next to the sea or deciding to go
Nomads Association.
hiking, climbing or scuba diving. Let's say that the small size of Malta is undoubtedly
What services does MDNA provide?
a pro. Moreover, it's a safe and relaxed place to live in, and the English language
Minou Schillings
The MDNA, through the website
makes everything easier. Meeting new
nomadisland.org, provides remote workers
people is also easy, and the international
support and a range of services. We focus
environment helps connections and
on four key areas:
networking.
• Information for the digital nomads; • Raising public and political awareness;
On the road map published on
• Promoting the island internationally and
nomadisland.org, I can see you guys are
creating social impact by boosting a
working on a documentary called "A day
connection between the remote workers
of a remote worker". Can you tell us more
and the residents.
about it?
Do you already have an open discussion
The general idea is to promote Malta
with the Government? What have been
abroad as the Mediterranean Hub for
the first achievements, and what is in the
remote working. With a global pandemic
pipeline?
going on, more and more people worldwide are flirting with the idea to
Loïc Moncany
After we announced the association's
spend some time somewhere else whilst
launch, we have been approached by a few
getting along with their job, as they
ministers and the Maltese Residency Visa
realised it's just possible and relatively
Agency. We are now working on a Digital
easy to do. Put simply, we are facing a
Nomad Framework, which is essentially
steep rise in demand accelerated by the »
THE NEW BEGINNINGS EDITION · 33
NOMADS
I think Malta needs to have a human-first approach, rather than solely money and business.
rooms with kitchens and offering Airbnbstyle suites. Another example is that cafes can adapt to become places where remote workers can do their work and socialise. The opportunities are enormous if we can create an ecosystem to attract high-skilled and high-income remote workers to work long-term.
COVID-19. So, we want to show them that they can find here what they're looking for.
In general, the pandemic is re-designing
The goal of this documentary is also to go
how tourism should be conceived,
viral and grab the attention of international
focusing more on quality and not on
media too.
quantity. What are your thoughts about it?
What are the positive outcomes for Malta
I think Malta needs to have a human-first
in the short and long term, becoming a
approach, rather than solely money and
"digital nomad friendly" destination?
business. Leading Malta into a sustainable future, where a whole nation will be
Malta usually gets 2.8 million visitors per
prospering from and far from the previous
year. We could make the same money
iGaming, Language Schools and the
with 40,000 to 80,000 remote workers
controversial 'golden passports' industry.
in a single year. Think about this: a highincome tech worker from the US or London
In a nutshell, we need to create an
makes €150,000 per year. If they'd relocate
environment worth living in. Berlin didn't
and spend just half of that, that's €75,000
become Europe's start-up paradise
per year into the local economy.
because of tax incentives or businessfirst slogans. It became Europe's hotspot
34 · MONEY ISSUE 65
Traditional businesses can profit from the
because of its human-first path. Just think
remote work wave too, especially in the
about Cottonera becoming Malta's next
hospitality industry. Instead of nightly
Berlin-Esque start-up paradise, bringing
stays, hotels are already offering long-
fresh input into a socio-economic much-
term stays and considering adapting their
neglected area.
CANNABIS
The Maltese Association of Psychiatry has led the charge and, in a press statement last February co-signed by all the drug rehabilitation bodies in Malta as well as the national Agenzija Sedqa, made the point that legalisation “can give out a false message that cannabis is a ‘safe’ drug,” warning that this “may lead to normalising its recreational use with higher risks of repercussions.” So, what are those “repercussions”, and is the outlook or prognosis as one-faceted as suggested in the press statement? And how does this affect the contours of any legislative reform? The increasing incidence in the use of cannabis and trends towards legalisation has spawned much research by mental health academics in recent years and much controversy over inconsistent findings. At the heart of the issue are the exact nature and extent of association between the psychoactive ingredient in cannabis, called THC, and the incidence of psychosis, particularly schizophrenia. It’s a controversy that has played out in the pages of the eminent journal The Lancet Psychiatry, mostly recently triggered by
No sigh of releaf
a major study by researchers from King’s
A significant point of contention that has emerged over moves to legalise cannabis is controversy over whether the weed can damage mental health or whether that calls for keeping prohibition in place. Victor Paul Borg investigates.
cannabis were no longer accessible”,
College London and the Rivierduinen Institute for Mental Health Care in Holland. The large-scale research project took place in major European cities, including Amsterdam and London, and reported a “causal link” between daily consumption of high-potency cannabis – defined as cannabis with over 10% THC – and psychotic disorders. Yet the conclusion that “if high-potency the incidence of psychotic disorders in Amsterdam would drop by half led to howls of dissent by other scientists. These were articulated in an article by two Dutch academics – Iris E Sommer and Wim van den Brink – who wrote back in retort: “Our findings strongly suggested that associations between measures of cannabis use and psychosis or psychotic
36 · MONEY ISSUE 65
CANNABIS
disorders are far more nuanced than Di
the association between cannabis and
Director of a drug rehabilitation
Forti and colleagues assume.”
psychosis is bidirectional”, adding that a
body called Caritas, Anthony Gatt, a
confluence of studies “indicate that for
psychologist by profession, told me
They point out that cigarette smoke and
some individuals there is an increased risk
that around 1% of the population in
nitrogen oxide (an air pollutant) are also
of psychosis resulting from daily use of
Malta might be affected or predisposed
linked to psychotic disorders. Hence,
high potency cannabis.”
towards schizophrenia.
be taken in isolation. They also quoted
A determining variable appears to be
Sommer and van den Brink wrote: “Until
another major study that drew a link
the potency of cannabis. In Malta, the
causal mechanisms are established,
between cannabis and schizophrenia
prevalence of cannabis was traditionally
limiting exposure to nitrogen oxides from
in reverse: that it is latent or existent
low-potency hash imported from Morocco,
exhausts and cigarette, and cannabis
schizophrenia that attracts individuals
but the supply has steadily shifted to
smoke could be an effective and perhaps
to heavy cannabis consumption – they
higher-potency buds of weed imported
minimally controversial method to
referred to this as the “causal direction was
from Sicily. A superintendent at the Drugs
reduce harm.”
from schizophrenia to cannabis use and
Squad told me that around seventy per
not vice versa.”
cent of busts are of cannabis imported
All of this suggests that the kind of
from Sicily.
deregulation outlined by the government
any possible contribution of THC cannot
in its white paper may not be smart
They wrote: “Indeed, high-potency cannabis use can lead to drug-induced
Yet even most Sicilian bud is still less
enough. The main recommendation is
psychosis, and high-potency cannabis use
potent than varieties found in London –
that people cannot carry more than 7
might trigger the earlier onset of psychosis
which goes by the street name of ‘skunk’
grams of cannabis, and they can grow up
in genetically vulnerable individuals who
– or Amsterdam, where selective breeding
to 4 plants at home. People can consume
would have developed psychosis anyway.”
increased THC percentage to levels of 20%
in private places.
or more. While this may foster a grow-your-own
They added: “Previous studies indicate that frequent cigarette smoking and
Yet rather than taking any stands for or
trend, which is egalitarian, it does not
urban living each approximately double
against legalisation – a question that is
address the harm through inhalation
the risk of psychosis. Therefore, the
seen as the preserve of political and social
of nitrogen oxide and the likelihood
question arises as to whether urban
policy-makers – academics have been
of a greater potency bud becoming
living, cannabis smoke, and tobacco
trying to inform the policy context with
predominant through selective breeding
smoke have a common factor that can
findings from their research.
and sourcing seeds.
oxide exposure—from all types of
“Given the changing legal status of
In this way, although the reform proposed
smoke—might be a more ubiquitous
cannabis across the world,” Cage argued,
may limit consumption to private places,
explanation for the reported link between
“and the associated potential for an
out of sight would not necessarily be out
cannabis and psychosis.”
increase in use, the next priority is to
of mind.
cause psychosis. In summary, nitrogen
identify which individuals are at risk from Another contributor in the pages of
daily potent cannabis use and to develop
Instead of smoking, scientists
The Lancet Psychiatry, Suzanne H Cage,
educational strategies and interventions
recommend vaping – there is already a
wrote that “it is perfectly possible that
to mitigate this.”
thriving market for e-liquids of THC at varying content percentages in large European cities. This calls for a rethink to devise the reform to encourage vaping over
…although the reform proposed may limit consumption to private places, out of sight would not necessarily be out of mind.
smoking and low-potency over highpotency (defined as over 10% THC content). After all, the predominant cannabis on the market in Malta has long been Moroccan resin with less than 4% THC. It would not be reinventing anything to keep the THC percentages somewhere in that region.
THE NEW BEGINNINGS EDITION · 37
PROMO
DATA-RICH, digital wealth
David Curmi, chief executive officer at Curmi & Partners, talks to MONEY about their new data-rich platform that allows clients to access all their investments 24/7.
The last 12 months have been a real wake-up call on many fronts
is now mainstream. Yes, we are still human, and we instinctively
and has proffered certain vital lessons to the world. Firstly,
crave face to face contact, but technology, used appropriately,
showing us that we should not take our health for granted. Once
can be a helpful communication tool for almost every age cohort.
this is gone, it is difficult to get back. Secondly, those rainy days
It is impressive to notice how quickly technology is adopted when
are a reality, and financial planning needs to take priority. No
seen as an urgent need for an immediate solution.
matter how secure your job or income may be, there is always something around the corner that could potentially knock the
At Curmi & Partners, we have experienced this change at very close
wind out of you. Having prepared for a rainy day helps cushion
quarters over the past year. Our journey started several years back
this potential blow. Thirdly, we have learnt that digital technology
when we overhauled our IT infrastructure, both the software and
38 · MONEY ISSUE 65
PROMO
hardware side. The objective back then was to change the way we communicate and what we communicate to our clients. To do this, we needed to completely start building our infrastructure from scratch in such a way that we would be able to give clients the visibility that we felt they ought to have. It’s not that the system we had then was inadequate for what we were providing, far from it. It still was probably one of the most advanced portfolio management systems on the island. Yet, it became clear that it could not grow in the way we wanted and the complexity the market would eventually require. The future for us was one where we needed to be more efficient in our processes. This meant a much greater degree of automation throughout. It needed to bring together both the portfolio management and regulatory side of our business. More importantly, it needed to help us get closer to our clients by giving them access to what is essentially their information at the touch of
We can offer a service that can be entirely digital for the more tech-savvy yet still traditional for those less so.
a button. smart graphical displays with critical data, enabling clients to I cannot say that the journey to achieve these objectives was
understand their investments better and analyse them from
simple. When changing software platforms, there are always
different perspectives at the touch of a button. Whether viewing
hidden gremlins that surface when you least expect them to. Yet
from an IOS device or an Android one, clients also benefit from
by staying focused on the bigger picture, we soldiered on, and I am
downloading their reports to their devices or storing them within
proud that today we have launched Curmi Digital Wealth. CDW is
the platform itself.
a data-rich platform that allows our clients full access to all their investments. Adhering to international standards of reporting, it is
The journey into the digital world has already proven to be critical
an intuitive platform that is interactive and engaging.
to our ability to navigate successfully through the pandemic. It is difficult to imagine how we would have survived as well as we
Besides transforming the way we work, it will change the quality
did without such automation. And the exciting aspect is that the
and timeliness of the information we provide to our clients. We
more you invest in your processes, the more you realise what you
have already moved to a full digital reporting level. However, CDW
can do and that the possibilities truly become endless. We now
is also a fully automated digital platform that allows our clients
have a project team that is continuously focussing on what added
to follow their investment portfolio on a 24/7 basis. It combines
features we can develop to be more relevant to our clients and to keep us closer to them at all times. The interesting angle is seeing how a broad range of age groups are embracing the technologies we are providing them with whilst also giving us feedback on adding new features. The technology will keep evolving, and more features will be included over time. However, the need to balance technology with a human interface remains vital, and we do not wish to lose this. Whilst automation is inevitable and desirable, picking up the phone or communicating with another human being is just as critical. To us, being successful in this respect does not stop at introducing technology into everything that we do, but it is about combining it with our amazing team to be able to offer a service that can be entirely digital for the more tech-savvy yet still traditional for those less so. I look forward to continuing this journey and strengthening the precious achievements obtained so far.
Find out more at [www.curmiandpartners.com]
THE NEW BEGINNINGS EDITION · 39
VISION
THE GREAT RESET JP Fabri on how best Malta can emerge stronger after a series of revelations shook Malta’s foundations.
There is no doubt that Malta is currently passing through a very
The time is now to reset. Therefore, it is evident that Malta requires
particular time. The economic challenges that COVID-19 has
a revised and long-term vision through which we can learn from
brought about cannot be underestimated. The ensuing health
the past and move forward with a renewed sense of hope as the
pressures and the various collateral effects this will have in the
external environment will present its fair share of challenges.
future, including mental health. Also, the latest revelations have
As other countries are resetting themselves in the face of the
shaken Malta's institutions as well as its reputation to the core.
pandemic crisis, it becomes even more pertinent for Malta to
Now is the time of reckoning and, more importantly, of resetting
come together and reconfigure its economic model. In drawing up
our institutional and economic models.
this Malta mission, I think it needs to be grounded or built around nine main principles.
The time is now to: • reconsider how we see ourselves as a nation;
First, the economy needs to be a living organism. Economics,
• reconfigure our organisations and economic sectors;
policies and strategies are not just about data and models. Thus,
• reword the narrative we tell ourselves and the world.
we need to view economies and their structure as DNA with two
40 · MONEY ISSUE 65
IVISION
main components being heritage – there are fundamental truths
key challenges. Once determined, they require solutions. Our
about the Maltese economy; our insularity, islandness, limited
approach is to focus on the challenges. The idea behind missions
resources, and the evolutionary forces – just like living organisms,
is not to start by asking which sectors or technologies should
our economy needs to continuously adapt given the driving forces
be helped, but rather which problems need to be solved. The
and megatrends shaping the world. Any mission needs to be aware
key is to think about issues in the most ambitious way possible,
of the interplay between these forces.
involving various economic actors in the solution and establishing new forms of collaboration at the level of individual projects.
Secondly, we need to think in clusters, not silos. We need to
To this end, a mission must be able to catalyse investments and
move away from seeing the economy as sector-based to cluster-
innovation among the various sectors.
based. Silos harbour vulnerability, not resilience. Clusters are becoming increasingly popular as a policy tool to boost economic
Seventh, we need to go beyond GDP. This concept has already
development and competitiveness. By grouping several sectors
got a lot of traction, and abroad and even locally, several studies
and forming clusters, Malta will be better positioned to build and
are looking at advancing the concept of well-being instead of
leverage synergies across interrelated sectors.
just GDP. It is high time that Government starts introducing a well-being assessment framework for large-scale policies
Third, ecosystem-based policies. In economics and policy-
and initiatives and the concept of well-being budgeting. This
making, the sum is greater than the parts, and our approach
approach will ensure that the future generation's resources will
OVER THE PAST FEW MONTHS, WE HAVE WITNESSED SHORTFALLS IN THE INSTITUTIONAL AND GOVERNANCE FRAMEWORKS. towards drafting policies should be ecosystem driven. Taking a
not be compromised and that growth is designed to be inclusive
systems approach means that focus is given on both the system's
and equitable.
individual components and the sum of the parts, which is believed to yield maximum results when building economic sectors and
Eighth, holistic. The mission for Malta needs to be holistic. We have
visions. Unfortunately, this has not been the case recently with
been accustomed to having fragmented policies and initiatives.
Blockchain and medical marijuana sectors, especially when
In today's day and age, in the face of such daunting challenges
looking at the banking appetite.
and a fast-changing and evolving competitive landscape, Malta needs a holistic plan to support the national economic, social and
Fourth, innovation is central to fostering a value-chain approach.
institutional ecosystem.
In building opportunities for growth, Malta should place innovation at the core whilst looking at a chained approach and
Ninth, institutions and governance are the foundation of
realising that everything is connected within the innovation
everything. Over the past few months, we have witnessed
cycle. For this to happen, we need to look at the whole innovative
shortfalls in the institutional and governance frameworks.
process, including regulation, access to finance, talent and public
Corrective action has been taken, and wide-ranging reforms have
procurement. Innovation requires a systematic approach, and
also started. However, institutions and governance systems are
the ecosystems require time to mature and contribute to national
not static. They require constant reform and changes to ensure
competitiveness.
that suitable systems of checks and balances remain relevant and contribute to the country's overall success.
Fifth, operating environments are nested. In building strategies and action plans, we must look at the different levels and
We are at a crossroads. As a nation, we have achieved a lot;
stakeholders at play, both locally and from a European perspective.
however, there is no room for complacency. Past success is not
This also means that European initiatives such as the Green Deal
a guarantee of future success, and this needs to be nurtured and
and other cross-sectoral initiatives need to be crucial catalysts for
taken care of. This current phase should serve as a turning point
change and supporting local initiatives and policy-making.
as a point of reflection to ensure that we realign our vision. It is, therefore, time for #missionmalta to start being drafted and
Sixth, mission-oriented policies. The country must face several
implemented. Time is not in our favour.
T H E N E W B E G I N N I N G S E D I T I O N · 41
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PROMO
COMMITTED to CONNECTIVITY The global public health emergency due to COVID-19 has highlighted the importance of reliable and uninterrupted connectivity, such as voice and video calling and the Internet. During the past 14 months, the Electronic Communications sector has been instrumental as a catalyst for change in societal habits, supporting social well-being and economic activity. Thanks to the availability of robust communications networks, any business that could migrate from a bricks-andmortar environment to the online Internet managed to weather the economic effects of the epidemic relatively well. Virtual social proximity, remote working as well as access to vital emergency services and public health information sustained the smooth functioning of society. ‘Even during these challenging times, Malta’s communications infrastructure has taken the load in its stride despite the inevitable increase in demand.
MCA remains committed to upholding Malta as the European leader in connectivity
— Jesmond Bugeja, CEO, MCA
Commitment towards a stable economy and regulatory certainty has facilitated
infrastructure is concrete evidence
that this technology will bring minor
competition and private investment in
of Malta’s success in sustaining a
changes in emission levels when
this sector whilst ensuring reliability and
functioning economy, even through such
compared to existing networks, levels
stability even in cases of force majeure.
challenging times.
which themselves are but a fraction of the limits established by the ICNIRP,
This meant that Malta was well prepared for this unforeseen occurrence,’
Malta will be amongst the first EU
the international organisation formally
explained MCA’s CEO Jesmond Bugeja.
countries with 5G nationwide coverage.
recognised by the World Health
5G has the potential to be a game-
Organisation.
Malta’s strengths in its connectivity
changer. Previous generations of mobile
infrastructure are well recognised.
connectivity sought to connect humans.
MCA plays an instrumental role in
Within the EU, Malta is the top-ranking
5G will provide up to ten times faster
overseeing a regulatory framework
country for fast and ultrafast fixed
connectivity, connecting millions
conducive to competition and
broadband coverage. Malta boasts of
of devices, from smart wearables to
investment. The Authority has been
three high-speed 4.5G mobile networks
connected buses and cars, from parking
tirelessly working to prime its regulatory
with nationwide coverage. These results
sensors to drones, from intelligent traffic
framework for introducing state of the
are also confirmed by the European
systems to remote surgery. 5G is the
art services such as 5G. Its Spectrum
Commission’s Digital Economy and
technology that will enable the Internet
Trial Framework ensures a path towards
Society Index.
of Things.
sustainable investment. Initiatives
As Malta leads through the economic
The Malta Communications Authority
and availability of frequency spectrum,
recovery, the timing of 5G launches instils
recognises that some people have
and work to ensure that EMF limits remain
confidence as we look towards a brighter
concerns over this new technology.
within the established thresholds, are only
future. The industry’s commitment
However, we remain confident and
but some of the initiatives undertaken in
towards continued investment in their
guided by the European institutions
the past year.
towards the feasibility of 5G, the timing
[www.mca.org.mt]
THE NEW BEGINNINGS EDITION · 43
FINANCE
Turn back the clock Riddled with a string of controversies, the nation’s repute has been dented. While acknowledging the Government’s remedial action, it is vital that all impacted stakeholders are roped in to help restore Malta’s standing internationally to re-attract FDI. Jordan Portelli writes. Historically economic progression in
is and how the lack of, can emerge pivotal
economic achievements, such as
a jurisdiction was conditioned by the
in a country’s meltdown. Over the years,
the abnormal relative growth figures
more traditional variables. Infrastructure,
Malta’s economic success, compared to its
achieved, were brought about by
the level of education of a nation and
European peers, was highly dependent on
diligently planned policies, which
attractive public policies were amongst
foreign direct investment, and reputation
triggered a massive influx of foreign
other vital elements in attracting
undoubtedly plays a vital role. The political
direct investment. Indeed, two significant
investment. Domestically, previous and
saga which Malta has been facing since
sectors that have remarkably contributed
current administrations have done an
the Panama Papers scandal in 2016
to the said growth over the past years
exceptional job over the years, namely in
emerged continues to be a clear threat
were the financial services and gaming
improving the country’s level of academic
and drag towards the country’s economic
industries. These sectors were not only
education by several incentives towards
sustainability. The very recent and yet
standalone contributors but also crucial
enticing further studies at the tertiary
evolving shocking evidence, which links
as value-added.
level. Moreover, more recently, more
evident corruption
investment in infrastructure dictated the
from very close
government’s plan, and yes, a remarkable
government
improvement in this regard should be
aides, continues
13.3%
acknowledged.
to shed light on a
Gaming
20.9% Wholesale, Retail, Accommodation and Food Services
never-ending soap Undoubtedly, merit should be given to
opera. Once again,
all those involved. However, nowadays,
we are probably
the nurturing of economic development
underestimating
21.4%
15.5%
is conditioned by other factors, with
the possible
Other incl.
Prof, Admin,
reputation being a key element and is
collateral damage
Public Admin
Support Services
inevitably conditioned by the political
being triggered
environment. On this front, domestically,
by the recent
we failed. We were irresponsible
revelations.
and underestimated the possible repercussions.
8.1% 3.8%
Manufacturing
Construction
Over the years,
6.7%
putting all
4.7%
5.6%
Irrationality dictates that we undermine
into context,
Real Estate
Financial and
the importance of how crucial reputation
significant
44 · MONEY ISSUE 65
Insurance Services
ICT
Source: NSO
FINANCE
Case in point as depicted above, unnoticed
considering that banking options in Malta
are taking shape. However, let’s be frank,
is the gaming industry, a pure example of
are minimal. A case in point is Bank of
much more needs to be done. In primis,
foreign direct investment which over the
Valletta, currently undergoing a de-risking
a public apology is imperative. Secondly,
years grew exponentially. As of June 2020,
process and has closed several accounts
the government must work in restoring
the industry employed 8,009 full-time
for companies operating in important
our reputation and treat this as a matter
equivalent employees - undoubtedly an
industries within the domestic economic
of urgency. Thirdly, as part of the healing
important number in our labour force. More
sphere.
process, the involvement of all affected stakeholders is critical to ensure that the
interestingly is the fact that from the said number, just over 64% are non-Maltese.
The re-emerging reputational issues,
government prioritises the immediate
At the same time, 36% are Maltese-clearly
which might have continued to stain
actions that need to be taken to restore
indicating that the industry per se is also
Malta’s attractiveness as a jurisdiction,
our standing internationally.
crucial for the income streams of several
and the said difficulties being faced
Maltese families.
by existing foreign companies, does
There are no hiding corners. Apart from
not augur well for our economy. It is no
the chaos brought about by the pandemic,
More concerning is the threat on the value-
secret that many foreign companies,
Malta is facing very concerning threats
added created by such industries are
namely within the gaming industry, are
towards its economic sustainability.
having over others. A convenient example
taking the ongoing political saga and
Undoubtedly, the recent previsions by
would be the property letting sector. Over
its repercussions on their business very
the International Monetary Fund in which Malta seems to head the list of gainers in terms of economic recovery for 2021 in the Euro-area is a positive and offers economic
It takes many good deeds to build a good reputation, and only one bad to lose it.
pace following a tough year. However,
the years, it experienced generous growth,
seriously. The ease of shifting to other
Let’s act with conviction. As the well-
conditioned by the influx of foreigners
jurisdictions, such as Spain and Cyprus,
known political philosopher Benjamin
hitting our shores, including gaming, as
which are now being seen as more
Franklin had stated, “It takes many good
mentioned earlier, and the financial service
attractive, is a clear threat in the future.
deeds to build a good reputation, and
the need to repair our reputational issues should head the government’s plan and not be delayed any further. It is a fact that the recent revelations have reignited uncertainty amongst crucial industries of our economy.
only one bad to lose it”. Let’s work to instil
sectors. We must acknowledge the fact that Within organisational theory studies,
remedial actions by the current
reputation has been linked with providing
administration
confidence, maintain existing foreign businesses, and re-attract sustainable investment.
organisations with a sustainable competitive advantage. With the same line of thought, a country’s reputation will impact its competitive advantage. Thus, the benefits reaped on organisations by a good strong reputation is also relevant for any country, with Malta not being the exception. The recent national issues have, over the recent years, also conditioned international financial institutions in accepting to do business with any company operating from Malta. This made it more difficult for Maltese registered companies to transact with foreign economic entities. Indeed, this created operational difficulties also when
THE NEW BEGINNINGS EDITION · 45
OPINION
THE LESSON OF
Muscatonomics Manuel Delia's column in this magazine is not famous for optimism. Admittedly, cynicism, scepticism, and warbling doubts about the future are rarely highlights of a business magazine. The fact is we haven't walked through the gauntlet of our times yet, and there's no other side for us unless we agree on what surrounds us.
46 · MONEY ISSUE 65
OPINION
Daphne’s assassination showed just how ineffective people in positions of authority could be when they are inhibited by fear or favour.
For over three years, we've been through
the country's determination not to ask
As it turned out, there was much cause for
the painful process of pretending to turn
itself awkward questions came up against
concern. The killing of Daphne revealed
the page. That followed several years of
a challenge, insistently put to it by the rest
much that had been hidden under the
assuring everyone we didn't have to.
of the world.
smoke of a pumping economy.
The years 2013-2017 will go down in history
As journalists flew into Malta sending back
First, it exposed the existence in Malta
under the headline devised for them
news reports to the televisions, the web
of hard-core gangland warfare. Well-
by none other than the present justice
portals and the newspapers of the world,
resourced and heavily armed criminal
minister, Edward Zammit-Lewis. They were
Malta was no longer perceived as a place
organisations were and are prepared to
the years of Muscatonomics.
you went to on holiday or a sunnier version
use terror to secure organisational ends.
of Switzerland handling the banking needs
This factor alone is perhaps the best case
The economic indicators do not lie. Malta's
of the ultra-rich. The postcard image of
to argue that before Daphne was killed,
economy was pumping. Sales orders
a sophisticated version of a convenient
we lived under the influence of the fumes
flowed in in several industries. The feeling
Caribbean paradise flying an EU flag and
from freshly minted money.
was good.
seeped in culture and history was scorched by the fire burning in Bidnija.
In the seven years up to the car bomb that killed Daphne Caruana Galizia, there
There was no room in the euphoria for a reflection on just how sustainable the rush
The country went on the defensive. You
had been 19 other car bombings in this
could be. The heady spinning came to an
could say we went into early lockdown. The
country. For an island the size of a middling
abrupt halt on October 16, 2017. When
government put on a brave face acting as
provincial town, that is a strikingly large
Daphne Caruana Galizia was killed in a car
if the bombing of a journalist came down
number. And yet, we collectively managed
bomb outside her home, the economic
on us like rain from an unclouded sky. There
to ignore them as if they had been
activity did not slow down, the excitement
had been no causes. There, therefore,
background noise like too many fireworks
for the good times did not diminish. But
cannot be cause for concern.
on a summer Sunday morning. »
THE NEW BEGINNINGS EDITION · 47
OPINION
Second, Daphne's killing exposed the
dodgers and financial criminals in our
The talk of "apologising" for the Muscat
relationship between full-time violent
homespun camouflage.
years is such a childish attempt to wish away the reality we have to confront. The
criminals and board-room "businessmen". There is a language and a market of
The easing of planning restrictions,
mess we're in will not be wiped clean by
transactions between boardroom Malta
permitting higher buildings, encroaching
saying 'sorry'.
and gangland Malta. Third-generation
deeper into the countryside, and
cousins run Malta's most prominent
exploiting public spaces and previously
You could argue that the attempt to
business empires. We have seen how the
open spaces for short-term economic gain
acknowledge reality with an apology
foreign-college educated, sharp-suited,
boosted the construction industry and had
is somehow more constructive than
lawyered up tycoons know which number
a widespread trickle-down effect. But it
some of the utterances made by Prime
to call when they need an underground
took us years to realise that we have sacked
Minister Robert Abela. He recently said
bookie or even an off the shelf sicario.
the country in the process, and we are still
that the existence of organised crime in
turning the last remaining pockets of green
Malta no longer persisted.
Third, Daphne's killing exposed the absence
and blue into grey and black. When that sort of thing used to be said
of moral rectitude or ethical restraints in warranted professional service providers'
The relaxation of oversight over financial
before 2017, it could be dismissed as
offices. We have seen a world of lawyers
industries, including banks and gambling
naivety or incompetence. After all,
who accept payment in cash from sources
companies, allowed businesses in this area
we've been through, imagining that
they do not question and who do the dirty work for their jailed clients, going as far as delivering bribes and blood money for them. We have seen accountants and auditors acting against their professional code, helping clients cookbooks, devising structures to shelter criminal activity, playing fast and loose with documents entrusted to them for proof of integrity. Fourth, Daphne's assassination showed just how ineffective people in positions of authority could be when they are
The long walk to reconstruction, recovery and reinvention starts with recognising the problems we need to overcome.
inhibited by fear or favour. Theoretically, the country was endowed by a system of checks and balances to ensure no
to grow and create more employment and
organised crime would go away because
one, however popular, could abuse their
economic benefit from imported labour.
we wish it to is far worse than naive. It is
power without consequence. And yet
But we are still coming to terms with the
irresponsible. Complicit even.
senior police officers, senior prosecutors,
fact that the rules were relaxed to allow
magistrates and judges, regulators, civil
criminals to use these facilities, burning up
I am, I admit, not famous for my
service managers, parliamentarians
the only real asset this country could boast
optimism. But it doesn't mean I
and so on did not check. Let alone the
of: trust.
recommend to anyone giving in to despair. Our list of problems, the
balancing. We realise all this now. We understand
devastation left behind the whirlwind of
Fifth, Daphne exposed while still alive - but
that happy as we have been to cash
Muscatonomics, is enormous. Perhaps,
we only really started listening to her after
in on the immediate proceeds of
in some respects, it is insurmountable.
she was killed - the fact that corruption is
Muscatonomics, this has all been a Ponzi
But the long walk to reconstruction,
inherent to the people and the policies that
scheme in reverse. We have been living off
recovery and reinvention starts with
created Muscatonomics. We understood
the earnings we have made selling a pipe
recognising the problems we need to
that very slowly.
dream to the world. In the dream, we'd live
overcome.
as happy millionaires ever after. We are The selling of Maltese passports bumped
now waking up.
If we start walking down this path, we might one day come to a point where
up profits for law firms and accountancy firms and turned unused basements into
And yet, we are doing our best to stay in
we can think of Muscatonomics, how
cash cows. But it took us long to realise
bed a little longer, bemoaning the fate of
we remember a night of trouble after a
we were undermining our European and
having had to emerge from our warm and
drunken bout from our teenage years: a
international partners by dressing tax-
fuzzy reverie.
cautionary lesson from our past.
48 · MONEY ISSUE 65
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chemicals and
the design submission was made to the
low construction
USGBC for preliminary accreditation, with
waste, and the
a further construction submission to be
development
presented upon project completion.
maximising the potential for
Designed by leading architectural firm
green and public
DeMicoli & Associates on behalf of The
transport.
Quad Central, this extraordinary new development will set new standards for
Greenfuturenow.
environmental sustainability in Malta.
cz s.r.o. are lead
LEED® certification offers independent
contractors on
verification of the development’s green
the project
features, including design, construction, operations, and maintenance of a
Catherine Halpin,
resource-efficient and high performing
Chief Executive
working space. These features reduce
Officer of The
operational costs and ensure the greatest
Quad Central,
health benefits for building occupants and
commented,
the wider environment.
“LEED® Platinum certification will be a major achievement for The Quad
With over 44,000 square meters of mixed
Central. From its very inception, all the
commercial floor space, The Quad Central
Stakeholder’s determined that The Quad
is situated in Malta’s central business
Central would bring not only huge social
district. This mixed-use development
and economic benefit to Malta, but would
will provide an exciting mix of Grade
deliverer as sustainable development
A professional and commercial office
helping to create a long-lasting positive
space, supported by a diversified range
environmental impact.”
of catering and amenity outlets, ample
About: Projected to achieve LEED® Platinum Certification, The Quad
parking facilities and spacious landscaped
Eric Johnson, principal sustainability
Central is the next-generation office
outdoor areas.
project and cost manager,
and amenity development, opening
Greenfuturenow.cz s.r.o., commented,
in 2021.
Included in The Quad Central’s
“I’m delighted to be part of a team
sustainability credentials are, amongst
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others, ultra-low energy use, energy
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available at [www.thequad.com.mt]
generation and efficient management
ultra-efficient in its use of energy, water,
features, reduced water use, zero use of
and construction materials.”
THE NEW BEGINNINGS EDITION · 51
We print
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OFFSET
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DIGITAL
PREPRESS DESIGN
PUBLIC SPEAKING
TOASTMASTERS MALTA joins the EUROPEAN NETWORK Toastmasters Malta, the local branch of the renowned public speaking organisation, is set to officially join the European Region of Toastmasters International once the 2021/2022 program starts. We had a chat with Marco Ambrogio, current president of the first club in Malta, which was chartered in 2015. Tell us a bit about Toastmasters.
ever since our application to join the
for all people interested in learning about
Toastmasters is a non-profit educational
district was submitted. We kept promoting
Public Speaking and Leadership.
organisation established in 1924 by Ralph
our application after a decision was
C. Smedley at the YMCA in Santa Ana,
deferred from August 2020 to March 2021.
If I was to consider attending a meeting
California, United States. With more than
In January, this year, we appointed our
at Toastmasters Malta, what can I expect?
16,000 clubs and 364,000 members,
club’s immediate past president, Mateusz
We are a vibrant community representing
Toastmasters is present in 145 countries
Podgorski, to coordinate our efforts in
11 nationalities. We are all there to support
worldwide.
supporting the Road-to-District-109
each other’s journey through a solid and
project. The club decided to create a
proven system of informal education
What does joining the European
webpage [toastmastersmalta.org.mt/
and training called Pathways which was
Network mean for the members of
malta-joining-district-109-in-2021] to
established in 2019. If you want to improve
Toastmasters Malta?
document the application process so that
in these areas in your public speaking
This is an excellent opportunity for our
in the future other clubs can benefit from
path, we can give you an option to do just
club members and the Maltese community
the experience.
that. Pathways is a fantastic e-learning platform; it has been of great use during
since any future clubs established in Malta will automatically be part of the
I’m aware that the club had a special
the pandemic to keep the training alive
European Region. The European Region
visit from the International President of
and support members even without live
is divided into eight districts: Malta will
the Organisations. How was that?
meetings.
be part of District 109 together with
In February 2021, we hosted a special
Austria, Bulgaria, Cyprus, Greece, Italy,
event with the international president,
How is the club evolving in this
Lichtenstein, North Macedonia, San
Mr Richard E. Peck. We made sure to give
new-normal communication setting?
Marino, Switzerland, and the Vatican City.
him a very warm, if virtual, welcome to
Public Speaking is more critical than ever.
the Maltese Islands. With great reviews
We are all looking forward to returning to
I understand that the application took
and feedback from the audience, the
our live meetings at MITA in Santa Venera;
some time to be successful…
visit contributed to placing Malta in the
however, in the meantime, we streamlined
Our club and several members have been
spotlight.
our processes, and we designed and implemented an online paperless system
involved with District 109 for few years, Joining District 109 will expand the club’s
to help with meeting agendas, voting and
horizons in Malta; what are the added
communication, which was designed and
benefits for people interested in public
developed by the club members.
speaking in Malta? Being part of the European region means extended access to training from
Toastmasters Malta offers a yearly calendar
senior members abroad, participating
of meetings every 2nd and 4th Tuesday of
in International speaking competitions
the month at 18:30. Currently, meetings
and developing an international network
are held online, and guests are welcome
of contacts; it will open many new
to attend. Sign up here to participate in a
opportunities. The Maltese club remains
meeting: [toastmastersmalta.org.mt/our-
aligned with providing a safe environment
next-meeting]
THE NEW BEGINNINGS EDITION · 53
BRANDS
BRAND NEW Richard Muscat Azzopardi on how brands can help restart the economy after the pandemic. After a long time going in and out of
biggest shocks to the economy in living
scratch with where you should have been
various stages of lockdown, we need to
memory? They should be communicating.
before the pandemic and where you have
start preparing for a future that’s a little
Brands should be screaming from the
no choice but to be post-pandemic.
bit more stable but still quite vulnerable.
top of rooftops in a way that matches the
The world as we knew it is gone, and if I
expectations of people in a post-pandemic
There is far too much to cover, especially
hear anyone mention the new normal once
world, screaming about how they can
without taking the time to understand the
again, I think I’ll throw a burrito out of the
understand the position that people are in
business of every one of the readers of this
window (don’t worry, it will be into the
and that they’re there for them.
article. However, what I aim to do over the following few hundred words is to equip
yard, and our dog will scavenge it at some If there ever was a time for new beginnings
you with a set of questions that you should
in brand communications and marketing,
be asking yourself, your marketing team
So, what should brands be doing to
this is it. This is the time to revisit
and your marketing agency (if you have
restart the economy right after one of the
everything you were doing to bring it up to
either of them).
point, I don’t waste food).
54 · MONEY ISSUE 65
BRANDS
Brands should be screaming from the top of rooftops in a way that matches the expectations of people in a post-pandemic world Your (Brand) Story
should become your absolute top priority once again because as social media
As the world learned unceremoniously,
fragments more and more, people are
people are no longer willing to put up with
relying on websites to be the single source
brands that don’t stand for anything. For
of information about a brand. Besides,
brands that don’t mean something. If you
websites are the perfect way to generate
somehow got by solely on shady economic
interest and interaction, to sell and build
practices or simply by competing in a
a loyal following that’s not at the mercy of
commoditised fashion, then you will
social media giants who can kill your page
probably suffer as we come out of the
or throttle your traffic at a whim.
pandemic. People will look back at the brands that had a story to tell and reward
Your Content
them with the loyalty that lasts. If you used the pandemic to make a quick buck in a
Once you have a decent website set up,
money grab, then you’re going to have
you need to think about the content you’re
as much success as a bunch of greedy
producing about and around your brand
football clubs who tried to launch a
and industry. People are expecting much
breakaway football league.
more from brands, and the quality of the content they have is one of the signs that
Your Social Media
a brand does not only see their audience to make easy money. High-quality content
Social media is the place where you can tell
shows that the brand means something.
your brand’s story. It’s the playground for
That the brand is there for a purpose, that it
brands to be seen and heard interacting
cares about the industry it operates in.
with their audience(s). Suppose you still see social media as a great extension of
Your SEO
your advertising mix. In that case, I’m afraid that you’re going to find it harder and
SEO has been important for as long as
harder to generate goodwill, and therefore
search engines have existed, but as the
business, in a sustainable way over the next
market fragments even more, and as
few months and years.
people are searching from devices all around the home, then search engines are
Your Website
becoming even more relevant. You must work hard to be there when searching for
You might have entered the COVID-19
products and services in your category.
era happy with a site that’s just a decent
You can only be present if you’re checking
showcase for who you are and what you
all the boxes above and working on both
do, but you can’t expect this to be enough
technical and content-based search
as the world moves on. Your website
engine optimisation.
The good news about all of this is that it’s all linked. If you start making progress in one, you will find it much easier to progress in all areas. Just don’t ignore it.
THE NEW BEGINNINGS EDITION · 55
Shot on location at the Island Polo Club Malta
Getting back
on the horse
Photographer Marvin Grech Stylist Peter Carbonaro Model Luke Skyrme
All items (this spread) by Benetton
All items by Charles & Ron
All items by Dan John
All items by Esprit
GIFTS
SUMMER brings MAGIC It's the beautiful season so it's only fair that MONEY gives beautiful things.
BALENCIAGA / €295 Logo-print leather trifold wallet
All items available from mrporter.com
KINGSMAN / €300 + Bowers & Wilkins P5W leather-covered wireless headphones
THE SKATEROOM / €550 + Jean-Michel Basquiat set of three printed skateboards
62 · MONEY ISSUE 65
GIFTS
UNDERCOVER / €435 Engraved spiked gold-tone and full-grain leather cuff
TIMEX / €80 + Pac-Man T80 34mm gold-tone stainless steel digital watch
TOM FORD / €650 4cm reversible full-grain leather belt
SAINT LAURENT / 245
MÜHLE / €100
Printed pebble-grain leather
Rytmo four-piece chrome
AirPods Pro case
and resin shaving set
L'ATELIER DU VIN / €245 Le Globe glass and walnut wine set
THE NEW BEGINNINGS EDITION · 63
FA S H I O N
HUBLOT / €20,700
HARTFORD / €75
Big Bang Ceramic
Slub linen t-shirt
[elcol.com]
JACQUES MARIE MAGE / €810 + George Cortina Jagger aviator-style gold-tone sunglasses GUCCI / €750 Wide-leg floral-print satin-jacquard shorts
VANS / €90 UA OG Old Skool LX leather-trimmed canvas and suede
All items available from mrporter.com
TOP of the NOTCH MONEY’s pick from the world’s best designers. 64 · MONEY ISSUE 65
FA S H I O N
Inter I M / €89 [inter.it]
GUCCI / €440 Alejandro leather-trimmed logojacquard canvas espadrilles
PAUL SMITH / €290 Linen drawstring shorts GUCCI / €350 Logo-appliquéd leather-trimmed Econyl bucket hat
LOEWE / €520 + Paula's Ibiza pleated linen and cotton-blend trousers
DOLCE & GABBANA / €1,750 Two-tone leather holdall
ALOYE / €325 Camp-collar printed cotton-poplin shirt
THE NEW BEGINNINGS EDITION · 65
NEWS
Launch of GRO Davinia Mallia Pulé and Kyra Meli, two
Group, GSD
marketing professionals with over 15 years
Marketing Ltd and
of experience in the industry, have joined
Food Chain Ltd.
forces to set up a results-driven marketing solutions firm: GRO. The duo first started
“We have been in
collaborating on projects back in 2018
our clients’ shoes,
while operating their respective marketing
and we understand
businesses.
what matters most to businesses when
“We are excited to continue this journey
it comes to marketing and PR. We work
together with our talented team and
Davinia and Kyra come with a wealth of
alongside our clients as trusted partners,
look forward to proactively supporting
experience in the industry, having started
offering them a pro-active approach that
businesses and empowering them to grow
their marketing careers working within
allows them to focus on their business,
their brand,” they added.
advertising agencies, then moving on
knowing that their marketing efforts are
to work in-house at leading companies,
being managed and optimised for
namely Alf Mizzi & Sons (Marketing)
results,” said Davinia.
[gro.com.mt]
Revitalised Piazzetta Business Plaza wins ‘Public Open Spaces’ Award Gasan Group is proud to announce that
Sliema to create a unique mixed-use
its prestigious Piazzetta Business Plaza
space incorporating 8,000 square
development has been awarded the
meters of high-end office, with 1,000
Planning Authority’ Award for Public Open
sqm of public open space and 800 square
Spaces’. The award highlighted the quality
meters of catering and retail spaces. The
of the design and the substantial impact
catering and retail spaces surround and
proportions with contemporary materials
made to the surrounding environment,
spill over the split level landscaped and
to create a subtle blend of old and new.
both visually and in terms of usability.
pedestrianised piazza, which features two
From the flowing fountains and railings
kiosks operated by Dr Juice and Starbucks
to the paving placement, geometry, and
The brainchild of Gasan Group, and
and an Intersport retail unit. Dedicated
marriage of materials, all the elements
conceived by architects Martin Xuereb
parking facilities also service the entire
across the project blend to create a
& Associates, the project focused on
development.
harmonious symphony, which links everything around it.”
the redevelopment of this extensive historic seafront site in the heart of
66 · MONEY ISSUE 65
This is what the architects had to say, “The design of the new façade and split-
Mark Gasan, chief executive of Gasan
level piazza stemmed and radiated from
Group of Companies, commented,
the curves, lines and geometry of the
“On behalf of the Group, we are proud
building’s 1920s façade, surrounding
that the major redevelopment of
buildings and streets, which were
the historic Piazzetta site has been
designed to seamlessly link the functional
recognised with this award. This
requirements and activities of each zone
project will create long-term social and
to create distinct yet similar spaces, such
economic benefit to Malta, improving
as the quieter pedestrian piazza on the
the local area for the benefit of the public
upper level and the busier commercial
and creating an iconic space in the
outlets below. The project ties in the
heart of Sliema that can be enjoyed for
classical design of the building and
generations to come.”
[gasan.com]
bloom@bloomcreative.com.mt The design studio behind MONEY and some of Malta’s biggest brands.
bloomcreative.com.mt
New beginnings have never looked better.
What is it that drives someone to greatness? To take on the unknown, venture into the unseen and dare all? This is the spirit that gave birth to TUDOR, a spirit carried forward by every woman and man who wears this watch. Without it, there is no story, no legend and no victory. This is the spirit that drives David Beckham every single day. This is the spirit embodied by every TUDOR Watch. Some are born to follow. Others are born to dare.
BLACK BAY CHRONO
VALLETTA - ST. JULIANS WWW.ELCOL.COM