Mastercard And DIFC Innovation Hub Forum Champions Sustainable Business Strategies

The Dubai International Financial Centre (DIFC) Innovation Hub and Mastercard recently hosted a pivotal leadership forum, a significant step towards fostering sustainable growth in businesses. The forum, themed 'Innovating a Sustainable Tomorrow’, brought together more than 700 innovation and tech firms, making it the largest financial innovation ecosystem in the region. Key industry leaders, including CEOs and executive vice presidents from renowned organizations, engaged in insightful discussions on leveraging innovation, technology, and collaboration to address environmental, social, and economic challenges.

The forum kicked off with an engaging fireside chat between Amnah Ajmal, Executive Vice President at Mastercard, and Ronaldo Mouchawar, Vice President at Amazon Middle East and Africa. Mouchawar shared his journey from founding Souq.com to its acquisition by Amazon, highlighting the importance of fostering a culture where experimentation is encouraged, even at the risk of failure. This, he believes, is crucial for driving innovation.

Reinventing Traditional Companies

During a panel discussion on reinventing traditional companies, Khalifa Al Shamsi, CEO of e& Life, shared insights on how the company leveraged customer insights and existing capabilities to diversify into fintech with Mastercard as a partner. Mohammed Alblooshi, CEO of DIFC Innovation Hub, emphasised the need for organisations to be agile, adaptive, and forward-thinking. Ömer Suner, CEO of Ozan, underscored the importance of human resources in innovation, particularly in identifying and empowering talented leaders.

Commitment to Sustainability

The forum also delved into the critical issue of sustainability. Amadou Diallo, CEO of DHL Middle East & Africa, discussed the necessity of ownership and collective effort in making a positive impact. He highlighted DHL's initiatives, such as deploying solar energy in warehouses and collaborating with startups on waste management. Sandeep Walia, COO of Mariott International, Middle East, spoke about Marriott's efforts to reduce waste and energy consumption, citing the newly opened St Regis Red Sea Resort, which is entirely solar-powered, as an example.

Amnah Ajmal concluded the session by pointing out the growing consumer demand for sustainability, with six out of 10 retail consumers willing to pay more for sustainable products. She also mentioned Mastercard's commitment to combating climate change through the Priceless Planet Coalition, which aims to restore 100 million trees by 2025.

The partnership between Mastercard and DIFC Innovation Hub promises to continue addressing the opportunities and challenges within the business world through similar initiatives throughout the year. This collaboration underscores the growing emphasis on sustainability and innovation in driving business success and tackling global challenges.