COVID-19 is altering – but not halting – MBB and HSBC’s initiative on Financial Literacy

COVID-19 is altering – but not halting – MBB and HSBC’s initiative on Financial Literacy

April 2020, Malta – Since the launch of the INVEST+ project in September 2019, the Malta Business Bureau (MBB) in collaboration with the HSBC Malta Foundation organised multiple mentoring sessions on financial literacy, led by knowledgeable and experienced HSBC employees. All sessions, focusing on business planning, accounting, savings and investment, were well-received by participants coming from all walks of life (i.e. students, entrepreneurs, employees and society at large).

Between December 2019 and February 2020, the project team also ran a competitive call for young people (18-30 year olds), encouraging them to submit opinion pieces that answer the following: Why do you think financial literacy is important? What steps should be taken to improve the level of financial literacy, especially amongst young people? Christoph Schwaiger, Claire Bezzina, David Muscat, Marcus Sammut, Maria Mizzi, Melanie Vella and Thomas Camilleri were subsequently recognised as the authors of the top 7 submissions, rendering them eligible to participate in all-expenses paid study visit in Brussels.

With the outbreak of COVID-19 in Europe, however, the INVEST+ team felt that it was its duty to revise the project’s work programme, in line with the restrictions that have been imposed during these challenging times. Whilst the Brussels study visit has had to be postponed until further notice, the delivery of both mentoring sessions and thematic workshops is being adapted to target current needs more exclusively.

In this regard, MBB CEO Joe Tanti said that, “The safety and well-being of the INVEST+ team, mentors and participants remains our top priority. However, we also recognise that COVID-19 will have lasting short- and long-term effects on the economy, which makes the spread of sound financial knowledge even more crucial, allowing individuals to better manage their personal and professional finances”.

Project Manager Marija Elena Borg added that, “Rather than viewing this pandemic as a dead-end to our work, we are perceiving this as an opportunity to take some time to listen to the needs and wants of the people living in Malta and subsequently carry on with our mentoring – even if that means fully digitalising the INVEST+ project. Therefore, I invite all of those who feel the need to improve their financial literacy skills to dedicate a few minutes of their time to answer a couple of questions that we have and provide us with any additional feedback”.

Interested individuals are encouraged to submit their feedback here by Wednesday 6th May 2020.

For more information on INVEST+, please contact Project Manager Marija Elena Borg on mborg@mbb.org.mt or +356 21251719.

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