UAE’s Farah Zafar Wins ‘The Innovator’ Award At Mastercard Women SME Leaders Awards 2024

The third edition of Mastercard Women SME Leaders Awards held today celebrated entrepreneurs in Eastern Europe, the Middle East and Africa region. Launched in 2022, this year’s award ceremony was the first in-person event that honoured the remarkable achievements of leaders shaping the future of business in the MENA region.

Farah Zafar, Co-Founder and CEO of UAE-based creator monetization platform, Lyvely, was awarded “The Innovator” at the prestigious event held at Banyan Tree, Bluewaters, Dubai, UAE.  This award recognizes “an outstanding woman business leader in the technology sector who has made a positive contribution to the industry in the region.”  This recognition highlights Farah’s exceptional vision and leadership in the tech industry, particularly in the UAE and MENA region.

Under the leadership of Farah, alongside global wellness entrepreneur Dave Catudal, Lyvely is a trailblazing social networking platform dedicated to empowering digital creators and individuals to monetize their passion and build a thriving livelihood online. The platform aims to revolutionize the digital landscape by providing a fully integrated multimedia e-commerce suite with fintech tools, empowering people worldwide to earn on their terms.

Lyvely’s innovative approach is poised to disrupt the traditional social media framework while elevating the global creator economy, empowering hundreds of millions of people to improve the quality of their lives by pursuing a career in this new digital era with more passion and purpose and being able to monetise their digital presence and content.

On winning the award, Farah Zafar said, “Being recognized as ‘The Innovator’ is a profound honour and I am so grateful.  At Lyvely, we are dedicated to redefining how people interact and transact online by placing the power of earning into the hands of creators. We are the “Platform for the People” and this award fuels our mission to build a platform where every contribution to the digital ecosystem is valued and rewarded.”

In addition to Farah’s impressive portfolio, she serves as the Managing Director and Group Chief Legal Officer at Phoenix Group PLC, the multi-billion-dollar tech conglomerate. Her strategic contributions have played a key role in the company’s growth, including leading the successful IPO on the Abu Dhabi Securities Exchange (ADX).

Bijan Alizadehfard, Co-Founder & Group CEO of Phoenix Group, said, “At Phoenix Group, we are incredibly proud of Lyvely’s exponential growth and remarkable achievements under Farah Zafar’s visionary leadership. Our strategic investment in Lyvely underscores our unwavering commitment to shaping the creator community, which is currently projected to surpass USD 600BN by 2036 and supporting homegrown UAE tech startups.”

Phoenix Group, the region’s first ADX-listed crypto and blockchain conglomerate, focuses on investing in UAE-based tech startups with global potential. Acknowledging the potential of Lyvely, Phoenix Group recently acquired a 25% stake in the company.

Lyvely’s innovative monetization tools and strategic initiatives, such as the upcoming mobile app launch and token launch, are set to tap into the endless possibilities of SocialFi and Decentralized Social (DeSo). These developments position Lyvely to power the digital economy further and redefine online interactions and monetization.

Mastercard Women SME Leaders Awards is an annual event held by Mastercard in collaboration with Entrepreneur Middle East. The event aims to empower women-owned and women-run small and medium enterprises (SMEs) across Eastern Europe, the Middle East, and Africa.