Welcome to the Centre of Excellence in Financial Capability and Entrepreneurship
Building a Financially Capable and Entrepreneurial Mindset
At JA Malta, our vision is for each individual to have the critical skills and mindset needed to earn, manage, and utilise money effectively, contributing positively to their community and environment. Join us.
The Centre of Excellence (CoE) is a partnership between the Ministry of Education, HSBC Malta Foundation and JA Malta. In collaboration, our aim is to aid teachers, and equip schools, to support their students with essential financial and entrepreneurial skills. Current research clearly indicates that financial habits and behaviours are formed during childhood and adolescence, making early intervention critical for developing beneficial financial behaviours and attitudes. The CoE aims to do exactly that – provide specialised support, expertise, and resources to foster excellence, efficiency, and strategic growth in financial education.
Why Financial Capability Matters
Financial capability is more than just understanding money; it’s about making informed decisions, planning for the future, and navigating the financial landscape. In Malta, current research highlights significant gaps in financial knowledge among both youth and adults:
- PISA 2022 Results: Maltese 15-year-olds scored below the OECD average in financial literacy.
- OECD/INFE 2023 Survey: Adults aged 18-29 exhibit negative financial attitudes and limited digital financial ability. Malta scored lower than the OECD average in financial knowledge.
Our Mission
To support educators with the tools and knowledge they require to be able to deliver financial literacy sessions transversely amongst their various subjects. That’s right, even through teaching a language or in a physical education lesson, we can still guide the students to become more aware about their financial wellbeing. Our mission is to support the educators in growing an entrepreneurial and financially capable mindset among young people, enabling them to reach informed financial decisions that fit their circumstances.
What exactly is a Centre of Excellence
(CoE)?
A Centre of Excellence promotes collaboration, innovation, and excellence within a specific domain by:
- Providing specialised support, expertise, and resources.
- Acting as a central resource for enhanced capabilities.
- Fostering excellence, efficiency, and strategic growth.
The Core Components of Our CoE Programme
The Centre of Excellence Programme in Financial Capability is comprised of 5 core components:
CoE FinCap & Entrepreneurship School Programme:
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- Implementation of 5 core key areas:
1. Professional Development of Teachers
- Accredited MQF Level 5 (4 ECTS) Award in Financial Capability & Entrepreneurship for educators.
- Based on the EU/OECD financial literacy competence framework for youths.
- Duration: 6 sessions of 2 hours per session + 4 hrs personal coaching sessions.
The teacher training in financial capability and entrepreneurship is a 3-day training programme from 09.00 – 13.00hrs. The programme is solely for educators and LSEs who are teaching in primary, secondary and 6th form schools, state, private and church schools. It is accredited as MQF Level 5 (4 ECTS) by the University of Malta and is based on the EU/OECD financial literacy and entrepreneurship competency framework for youths. The training also includes 4 hours of on the job coaching where the trainer will support the educators with the implementation of financial literacy in their lessons
Course Content
The course covers key content areas tailored for different age groups focused on:
- Money & Transactions:
- Understanding money, currencies, income, prices, and financial records.
- Planning & Managing Finances:
- Budgeting, saving, investing, and retirement planning.
- Risk & Reward:
- Identifying financial risks, consumer protection, and fraud awareness.
- Financial Landscape:
- Relationship between financial risk and reward, and insurance management.
As part of the course, you will be required to work on group projects during the sessions and prepare a final presentation for the last day of the training programme. Your assessment will be based on the following:
- Group work and use of tools;
- Project presentation;
- Lesson implementation in class
Cost of the training program
The course is currently FREE for a limited time only.
On successful completion of the course and coaching hours, you will be invited to an inaugural event hosted by HSBC Malta Foundation and the Ministry of Education, where you will be presented with your certification.
If you are interested in participating in the training, please complete the form below:
2. Community Partnership – Your school would be expected to demonstrate how it actively promotes financial knowledge and awareness within the community, particularly in philanthropy, or the act of giving. This could include welcoming institutions, and organisations into the school, or going on site visits to key institutions E.g. Stock Exchange, for them to share expertise and provide practical learning opportunities for students. Furthermore, it is encouraged to engage parents, helping them to develop their financial literacy, and empowering them to teach these critical skills to their children, thereby creating a well-rounded, financially aware community.
3. Implementation of School programme – After the educators have been trained in financial capability and entrepreneurship, they can start to either implement the knowledge gained either transversally across the curriculum subjects, or in specific, tailored sessions on financial education in their Professional Skills Development.
4. Project Innovation – Another core component of the CoE is fostering project innovation. Your school has the flexibility to develop your own unique start-up idea or project theme, tailored to the interests and capabilities of your students. Additionally, if desired, your school can also participate in established programmes such as the Enterprise Challenge organised by JA (Junior Achievement), giving students the opportunity to engage in broader entrepreneurial initiatives while enhancing their skills in real-world scenarios.
5. Participation in Global Money Week – Every year the OECD thinks of a theme focused around the importance of money and organises Global Money Week. A similar activity is also organised by the European Central Bank called European Money Week. The week of activities takes place between the 18 – 24th March each year, and there would be plenty of competitions and activities focused around the topic of money where your school would be required to take part in either a locally organised activity through JA Malta, or your school could create a separate theme on money and build activities around that theme to create awareness amongst children and their peers.
Strategic Benefits of being part of the Centre of Excellence
More specifically…
For Teachers:
- University of Malta accredited certification.
- Enhanced personal financial management.
- Increased confidence in teaching financial capability.
- Stress reduction and professional growth.
For Students:
- Improved financial capability and entrepreneurial mindset.
- Development of critical thinking and decision-making skills.
- Career preparedness and life skills.
For the Economy:
- Boost in local entrepreneurship.
- Attracting investment and reducing economic inequality.
- Enhanced financial stability and job creation.
Accreditation and Recognition
Schools achieving CoE status will benefit from:
- Official recognition and certification.
- Access to high-quality educational resources and training.
- Participation in networking events and development workshops.
How can your school be part of the Centre of Excellence?
Join us in building a financially capable and entrepreneurial future. For more information on how to participate or support the Centre of Excellence, please submit the online application form and we will contact you back within 48hrs.
By fostering a culture of financial capability and entrepreneurship, the Centre of Excellence aims to empower educators and students, ultimately contributing to a more informed, resilient, and prosperous society.
Frequently Asked Questions
1. How long does it take to get accredited and how long does the accreditation last?
- One academic year to complete full accreditation
- Accreditation lasts three years
- A 12-month review of the institute’s delivery and sustainability plan.
- After three years accreditation period, one can apply for re-accreditation.
- Re-accreditation lasts another three years
2. What does the school receive by getting accredited?
Accreditation and Recognition
Schools achieving CoE status will benefit from:
- Official recognition and certification.
- Access to high-quality educational resources and training through the JA Malta online Learning Management portal.
- Participation in networking events and development workshops.
3. We are interested to be part of the CoE but how do we implement it?
7-step process to Implement the CoE FinCap & Entrepreneurship School Program
- Step 1: Leadership and Management – The Head of school is committed to the CoE implementation programme and all engaged stakeholders.
- Step 2: Educators Development – Head of school selects a minimum of 3 educators to participate in the accredited teacher training program.
- Step 3: FinCap Champion – The Head of School would delegate the CoE project to a FinCap champion.
- Step 4: Measurement – A baseline assessment is conducted to establish learning and knowledge before any intervention.
- Step 5: Teaching & Learning – A minimum of 40% of learning outcomes from the framework are to be covered in at least two subject areas.
- Step 6: Monitoring and evaluation development – The FinCap champion monitors the planning and delivery of financial education over the duration of the programme.
- Step 7: Project Participation – Participation in Global Money Week, Project Innovations and including the wider community in sharing financial education.