Hamrun-based food and beverage supplier Alfsons Enterprises took to social media to announce the passing of its Founder, Alphonse Farrugia, better known as Fonzu.
“Today we bid farewell to a family man, a father who did a lot for his children, wife, as well as anyone else who needed help. [Alphonse] was a man with a heart of gold who respected the Hamrun community.” the company wrote.
“Losing someone is never a positive experience, however we know that [Alphonse] is now enjoying some well-needed rest. He will be remembered as a hard-working man and we will keep following in his footsteps. Thank you for your legacy,” it concluded.
Mr Farrugia, who passed away aged 82, was widely known as one of Hamrun’s biggest and most successful entrepreneurs.
His entrepreneurial spirit gave way to the foundation of a plethora of businesses, including Ta’ Fonzu Bottle Shop and EasyGas Malta.
Countless figures took to social media to pay tribute to Mr Farrugia.
“Today I lost a friend, Alphonse Farrugia, an entrepreneur from Hamrun that requires no introduction,” Social Justice Minister Michael Falzon wrote.
“Fonzu always believed in his potential and managed to build a strong business – so much so that nowadays, his company employees tens of people. He was always ready to help people grow,” he concluded.
He takes over from Alejandro Gosttuski, who will now take on the role of an Advisor.
The company, set to launch soon, will seek to provide clients with ‘customer-centric and innovative’ financial services.
The Malta Stock Exchange recently joined other exchanges for the inaugural Ring the Bell for Climate initiative.
Family businesses account for more than 70% of Malta’s SMEs, and are hence vital components of the local economy.