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

The third edition of the Mastercard Women SME Leaders Awards celebrated entrepreneurs in Eastern Europe and 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 monetisation platform Lyvely, was awarded "The Innovator." This award recognises "an outstanding woman business leader in the technology sector who has made a positive contribution to the industry in the region."  

Under the leadership of Zafar, alongside global wellness entrepreneur Dave Catudal, Lyvely is a social networking platform empowering digital creators and individuals to monetise their passion and build a thriving livelihood online. The platform provides a fully integrated multimedia e-commerce suite with FinTech tools, empowering people worldwide to earn on their terms.

On winning the award, Farah Zafar said, "Being recognised 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."

Zafar also serves as the Managing Director and Group Chief Legal Officer at ADX-listed crypto and blockchain conglomerate Phoenix Group PLC. 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 $600 billion by 2036 and supporting homegrown UAE tech startups.”

Phoenix Group 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 monetisation 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).