MONEY ISSUE 65

BUSINESS

|

LIFEST YLE

|

DESIGN

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 .

MONDAYS

FRIDAYS

TUESDAYS

SATURDAYS

WEDNESDAYS

SUNDAYS

THURSDAYS

21:00

21:00

FREE CU STOMER PARK I N G

www.myparktowers.com

Psaila Street, Santa Venera t. 2148 0807

Spinola Park, St Julian’s t. 2138 1055

Gorg Borg Olivier Street, St Julian’s t. 2137 8520

CASHBACK

& MORE WITH YOUR LOYALTY CARD

Spend

€50

& receive Spend

€100

& receive

€3 cash in card to spend the following month.

€7 cash in card to spend the following month.

OR

400 loyalty points

OR

1000 loyalty points

APPLY FOR YOUR LOYALTY CARD TODAY! Water and soft drinks are no longer included in the offers when shopping online.

WELCOME

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

MONEY is hand-delivered to businesses in Malta, including all managers and directors of the TOP 300 companies; iGaming, yachting and boating businesses, marinas, all 5-star hotels and boutique guesthouses including their business centres, executive lounges and rooms (where allowed), embassies and Maltese embassies abroad (UK, Rome, Brussels and Moscow); all government ministries and entities.

For information regarding promotion and advertising: (+356) 2134 2155 · [hello@moneymag.me]

Money is published by Be Communications Ltd, No. 81, Howard Street, Sliema, Malta SLM 1754

FACEBOOK-SQUARE LINKEDIN · [becommunications.com] All rights reserved. Reproduction in whole or in part is strictly prohibited without written permission. Opinions expressed in Money are not necessarily those of the editor or publisher. All reasonable care is taken to ensure truth and accuracy, but the editor and publishers cannot be held responsible for errors or omissions in articles, advertising, photographs or illustrations.

Unsolicited manuscripts are welcome but cannot be returned without a stamped, self-addressed envelope.

The editor is not responsible for material submitted for

04 · MONEY ISSUE 65

consideration.

Wealth means different things to different people.

At Sparkasse Bank Malta, we offer our customers a wide range of banking and investment services able to help you protect and enhance your wealth, use it, and pass it on to the next generation.

Speak to an advisor today T: +356 21 335 705 E: PrivateBanking@sparkasse-bank-malta.com Sparkasse Bank Malta plc, 101Townsquare, Ix Xatt ta Qui-si-Sana, Sliema, SLM3112, Malta

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.

16 · MONEY ISSUE 65

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

THE DEFINITIVE BOATS AND YACHTING MAGAZINE

HAND DELIVERED DIRECT TO YOUR BOAT Informative and exclusive content, high profile interviews, sailing destinations and lifestyle. Available at all marinas, affiliated businesses, Embassies, 5-star boutique/hotels and sailing clubs.

Read on bemags.com

Follow us on

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

Flexible Serviced Workspace to focus, collaborate and be creative

Business Office Services International – Malta provides fully serviced private workspace of various sizes accommodating single or multiple workstations in Malta’s Central Business District.

For further enquiries, please send an email to amanda.balzan@boservices.com.mt or call on +356 9900 4016 Vision Exchange Building, Triq it-Territorjals, Zone 1, Central Business District, Birkirkara, CBD 1070, Malta

www.bos-international.com

Furnished and Scalable offices, according to your business requirements.

17

Modern meeting rooms to facilitate your physical or online meetings, bookable via the BOSI app.

A welcome centre manned by a reception team.

Internet provided throughout the Business Centre.

Business and Registered address.

Onsite parking.

PROMO

The Quad Central— an excellent example of sustainable design The Quad Central is projected to achieve LEED® (Leadership in Energy and Environmental Design) Platinum certification from U.S. Green Building Council (‘USGBC’), laying the ground to make this not only one of Malta’s but also one of Europe’s most sustainable developments. The Quad Central will be a true nextgeneration development, joining the ranks with some of Europe’s most iconic and ‘greenest’ buildings, including Frankfurt’s skyline-defining Messeturm and The Crystal in London.

As part of the certification process,

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

constructing a leading example of

More info about The Quad Central is

others, ultra-low energy use, energy

sustainable design that is designed to be

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

BOOKS.

OFFSET

Salander Group Co. Ltd. KW3, Corradino Industrial Estate, Poala, Malta +356 2189 4446/7 www.printit.com.mt

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