Gulf Business Leaders - February 2025

P.09 BORN OR MADE? Latest insights from the science of leadership

P.11 THRIVING MINDSET

This is what makes serial founders tick

BECOMING SUPERHUMAN HOW PERSONAL DEVELOPMENT IS EVOLVING P.30

SHAPING THE FUTURE

BAT GROUP CFO, SORAYA BENCHIKH, ON REINVENTING TRADITIONAL BUSINESS SECTORS TO DRIVE SUSTAINABLE GROWTH

LEADING WITH PURPOSE

With a career that spans continents and industries, BAT group CFO Soraya Benchik has established herself as a corporate trailblazer

THE SECRET TO SUCCESS? HAPPY WORKERS

Practical strategies to create a happy work environment for employees

STAY A STEP AHEAD

Lessons for governments, law enforcement and organisations to help defend against evolving crypto-hacking trends

THE BUDDHA AND THE BADASS IS ABOUT INFUSING SPIRITUALITY WITH WORK. IT EXPLORES HOW YOU CAN BE HIGHLY PRODUCTIVE AND STILL STAY CONNECTED TO YOUR SPIRITUAL CORE.”

VISHEN LAKHIANI , FOUNDER AND CEO OF MINDVALLEY

Mark Mathew

THE EXECUTIVE’S GUIDE TO RETIREMENT

Everything you need to know before you start the next chapter of your life

TRANSFORMING EXECUTIVE MINDSETS

Celebrity therapist and coach Marisa Peer opens up about the common mental blocks executives face and how they can overcome them

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THE SECRET

HAPPY WORKERS TO SUCCESS?

PRACTICAL STRATEGIES THAT MANAGERS CAN USE TO CREATE A HAPPY WORK ENVIRONMENT

Creating a happy workplace is not just a bonus for employees, it’s a strategic necessity that directly influences an organisation’s productivity, innovation, and profitability. As the founder of WorkL, an employee experience platform, I have over four decades of experience in understanding the dynamics of workplace happiness. WorkL’s research, encompassing data from millions of workers across 106 countries, consistently reveals a direct correlation between employee happiness and organisational performance.

Here are some practical strategies to create a happy working environment for employees.

WHAT MAKES A HAPPY WORKPLACE?

Workplaces that prioritise happiness benefit not only employees but also businesses. When employees feel valued and supported, they become more engaged, productive and loyal, driving greater commercial success. Additional benefits include reduced absenteeism, lower turnover rates, and improved customer satisfaction. Moreover, a positive work environment is a powerful magnet for attracting top talent.

A corporate happiness plan should be a priority for every business. Companies meticulously plan for strategy, finance, operations, risk management, quality control, and technology, so why not for the happiness of their employees? Without a structured plan, it’s impossible to steer actions effectively, allocate resources wisely, anticipate challenges, or uncover opportunities. It’s confusing that so many organisations overlook the importance of a ‘corporate happiness plan’. After all, building a happy and thriving workplace doesn’t happen by chance.

I firmly believe that a corporate happiness plan deserves to stand alongside the other essential strategies that drive business success. This plan should be rooted in a deep understanding of what creates a strong culture and workplace happiness. It should address critical areas such as staff development, diversity and inclusion, wellbeing initiatives, rewards and recognition, and cultivating a sense of pride and fulfilment among team members. By doing so, businesses can create an environment where employees flourish, and success naturally follows.

Managers first need to assess the happiness of their teams. Here are some practical steps to get started:

• Conduct surveys to understand employee needs and stressors.

• Start small with initiatives like regular team check-ins or wellness challenges.

• Provide training for managers on creating wellbeing and recognising signs of stress.

• Set clear, achievable goals for improving workplace culture and track progress.

In Six Steps to Workplace Happiness, I outline the key areas that leaders and employers need to focus on, to create a happier workplace and employees. These include:

Reward and recognition: Every member of an organisation should benefit from its success. A fair salary is essential — no amount of praise can compensate for underpayment. Your compensation structure should meet expectations and motivate employees to go above and beyond.

Information sharing: Withholding information can make employees feel undervalued and disconnected from the business. For a team to perform at its best, transparency is essential. Employees at all levels should have a clear understanding of the business, its strategy, performance, customers, and competitors.

Empowerment: Empowering employees means involving them in decision-making, valuing their ideas, and integrating their feedback into the company’s strategies. Everyone brings unique experiences and perspectives to the table, and only

WITHOUT A STRUCTURED PLAN, IT’S IMPOSSIBLE TO STEER ACTIONS EFFECTIVELY, ALLOCATE RESOURCES WISELY, ANTICIPATE CHALLENGES, OR UNCOVER OPPORTUNITIES.

IT’S CONFUSING THAT SO MANY ORGANISATIONS OVERLOOK THE IMPORTANCE OF A ‘CORPORATE HAPPINESS PLAN’.”

Lord Mark Price

by considering all views can a team achieve the best possible outcome. While individuals may not be perfect, together, the team can be.

Wellbeing: Employee wellbeing encompasses physical, emotional, and financial health. Addressing all three areas leads to improved engagement and productivity. A positive workplace culture can reduce absenteeism, as engaged employees tend to be healthier and more committed.

Instilling pride: Employees who take pride in their work and workplace naturally become advocates, sharing their positive experiences with colleagues, potential hires, customers, and the community. Their pride will be evident when they talk about where they work. Building this sense of pride goes beyond motivational talks or performance reviews — it’s about cultivating an environment where employees truly enjoy and take pride in their roles.

Job satisfaction: A range of factors influence job satisfaction, but two stand out; opportunities for personal growth and the quality of the employee-manager relationship. Employees are an organisation’s greatest asset, and high engagement is essential for success. Research shows that respectful treatment and trust between employees and leadership are key drivers of satisfaction. Poor relationships with managers are often the top reason employees leave, regardless of the company’s brand strength. L

The writer is the founder of WorkL and WorkL for Business, and author of Happy Economics: Why The Happiest Workplaces Are The Most Successful published by Kogan Page.

EMPLOYEES WHO TAKE PRIDE IN THEIR WORK AND WORKPLACE NATURALLY BECOME ADVOCATES, SHARING THEIR POSITIVE EXPERIENCES WITH COLLEAGUES, POTENTIAL HIRES, CUSTOMERS, AND THE COMMUNITY. THEIR PRIDE WILL BE EVIDENT WHEN THEY TALK ABOUT WHERE THEY WORK.”

BY MOHAMMAD

SCIENCE OF LEADERSHIP UNPACKING THE

IS LEADERSHIP SOMETHING YOU’RE BORN WITH, OR CAN IT BE DEVELOPED? WE EXPLORE THE SCIENCE BEHIND LEADERSHIP, FROM GENETIC TRAITS TO LEARNED SKILLS, AND HOW ANYONE CAN CULTIVATE THE QUALITIES OF AN EFFECTIVE LEADER

Are leaders born or made? It’s something many people think about, particularly when they’re rising to the challenge of being a new leader or observing how the world’s most famous CEOs run their companies. Have these high-fliers learned their skills over time, or were they born with them?

The question of whether leadership ability is genetic has intrigued researchers and sparked a great deal of debate over the years. While the notion of a ‘born leader’ is a popular one, science is beginning to shed light on whether leadership traits can be inherited. This article reviews the most respected studies on the topic, which suggest the answer is somewhere between nature and nurture. The research reassures aspiring leaders that they should not be put off if they feel they don’t

have that ‘genetic advantage’ some of the most famous business leaders appear to embody. It’s remarkable what can be developed by those without a natural inclination but who are willing to put in the work.

EARLY RESEARCH POINTS TO THE GENETIC ASPECT OF LEADERSHIP

Several studies suggest that leadership ability may have a genetic component. In a landmark study published in 2013, researchers uncovered a link between a common variant in the CHRNB3 gene and an individual’s likelihood of assuming a leadership role.

This finding raises intriguing questions about the widely held belief that anyone can cultivate leadership skills and become an effective leader through effort and development. To further reinforce this view, researchers in a Harvard Business Review article also agreed that a significant portion of leadership ability is ingrained in individuals by the time they enter their early to mid-twenties.

Does this mean it’s all over for those without the leadership gene? We need to pause here. While research has shed considerable light on the factors shaping personality traits, intelligence, and interests, it should be noted that genetics in leadership is still in its early stages of research. So, we should approach these genetic discoveries with caution. Possessing a specific genetic variation doesn’t guarantee an individual will exhibit its associated traits. In fact, acquiring some skills – such as learning to play a musical instrument – demonstrates how practice and personal growth can sometimes ‘override’ genetic predispositions.

LEADERSHIP: NATURE OR NURTURE?

While those studies seem to paint a gloomy picture for those who don’t think they have that leadership gene, we must remember that environmental factors such as upbringing, education, and professional experiences have been shown to play a critical role in shaping leadership skills. Indeed, many of history’s great leaders were not necessarily born into leadership but cultivated their abilities over time through learning and practice.

Some researchers argue that while genetics may offer a foundation, personal development and external influences often determine whether someone becomes a successful leader. In 2022, a study was conducted at the National University of Singapore Business School, where researchers concluded that genes are not the sole factor in determining leadership. They saw it as a “intricate

WELL, EVEN IF GENETICS GIVE SOME INDIVIDUALS A HEAD START, LEADERSHIP IS FAR FROM AN EXCLUSIVE CLUB. SKILLS LIKE EFFECTIVE COMMUNICATION, STRATEGIC THINKING, AND EMPATHY CAN ALL BE DEVELOPED WITH THE PROPER TRAINING AND EFFORT.

it’s about playing to your strengths and then developing those areas that you find more challenging. The key to effective leadership lies not in conforming to a specific mould but in recognising and developing one’s personal strengths. By focusing on what makes them unique –whether it’s creativity, resilience, adaptability, or strategic thinking – individuals can carve out their own leadership style. This approach allows them to overcome perceived shortcomings and enhances their authenticity, building trust and credibility with their teams.

phenomenon … influenced by potentially tens of thousands of genes, each contributing only a minor effect, making it unlikely that there is a single leadership gene”.

CAN LEADERSHIP BE LEARNED?

So, what happens if you want to be a leader? Well, even if genetics give some individuals a head start, leadership is far from an exclusive club. Skills like effective communication, strategic thinking, and empathy can all be developed with the proper training and effort. Leadership programmes, mentorship and real-world experience are powerful tools for honing these abilities.

An article in Psychology Today argued that leadership skills can be developed with self-reflection and dedicated effort. Their conclusion, backed up by studies, was that leadership is only 30 per cent influenced by genetics. This means there is significant room for growth and improvement — and if you want to be a leader, investing real time in refining those leadership abilities is a worthwhile effort.

To that end, a study at the University of Illinois examined the effectiveness of a 15-week academic course designed to enhance leadership skills. The study found that motivation (or ‘willingness’ as they called it) was, in fact, the most critical factor for success. Individuals who may not exhibit ‘natural’ leadership traits can harness their unique qualities to become effective leaders. For instance, introverted leaders often thrive by leveraging their ability to listen attentively, process information deeply, and develop meaningful connections with team members. Their thoughtful approach can create an inclusive and collaborative environment where diverse perspectives are valued, and innovation is encouraged.

Similarly, highly empathetic leaders may excel at understanding team dynamics, providing support during challenging times, and motivating others by addressing their individual needs. Those with a strong analytical mindset can stand out by making data-driven decisions, solving complex problems, and implementing strategies that drive organisational success. Hence,

INDIVIDUALS WHO MAY NOT EXHIBIT ‘NATURAL’ LEADERSHIP TRAITS CAN HARNESS THEIR UNIQUE QUALITIES TO BECOME EFFECTIVE LEADERS

A BALANCED PERSPECTIVE

The question of whether leadership ability is genetic or learned is not easily answered with a simple either/ or response. While genetics may provide some foundation for leadership traits, research consistently shows that leadership is not entirely determined by DNA. Instead, it is a complex blend of nature and nurture, where personal development, motivation, and environmental factors play crucial roles in shaping effective leaders. For those who feel they lack a natural inclination towards leadership, there is ample evidence to suggest that these skills can be cultivated. Whether through self-reflection, training, mentorship, or real-world experience, aspiring leaders have the opportunity to grow and refine their abilities. Embracing personal strengths and working to develop areas of weakness allows individuals to forge their own path, demonstrating that leadership is really about continual growth and self-awareness. Leadership is a skillset that can be nurtured by anyone willing to put in the effort to develop it. Whether you’re born with certain traits or not, the potential to lead effectively lies in your hands – through the combination of dedication, learning, and adaptability. L

writer is the director of Free Zone Licensing at Meydan Free Zone.

The

Mohammad Bin Humaidan

BY HANS CHRISTENSEN

SERIAL ENTREPRENEURS: WHAT MAKES THEM TICK?

WE EXPLORE THE KEY TRAITS, MOTIVATIONS, AND MINDSETS THAT DEFINE SERIAL ENTREPRENEURS AND FUEL THEIR EXTRAORDINARY SUCCESS

Richard Branson, Elon Musk, Bill Gates, Oprah Winfrey, Steve Jobs. These icons are united by eye-watering wealth and impressive legacies. They represent a unique breed of entrepreneurs who repeatedly build and lead multiple businesses, often across different industries, and achieve extraordinary success.

Unlike traditional entrepreneurs, who focus on a single company throughout their career, serial entrepreneurs thrive on the challenge of building, scaling and exiting businesses, constantly seeking new opportunities and innovations.

While it’s rare for serial entrepreneurs to ascend to the legendary heights of Richard Branson, the factors that drive them are strikingly consistent. What defines this select band isn’t just their ability to spot opportunities – it’s their commitment to pursue them. This remarkable drive and mindset can offer valuable lessons for anyone seeking a more entrepreneurial mindset.

So, what makes these serial entrepreneurs tick?

KEY CHARACTER TRAITS OF SERIAL ENTREPRENEURS

Despite their unique backgrounds, experiences and aspirations,

serial entrepreneurs tend to share two key character traits that inform their motivations.

Confidence

Launching a business is inherently risky, and doing it repeatedly requires gumption, grit and a strong stomach for risk. Studies suggest that entrepreneurs with low-risk aversion are likelier to be serial entrepreneurs and feel comfortable in a seemingly perpetual state of uncertainty. Some can compartmentalise it, many even enjoy it. But what this really boils down to is confidence. Serial entrepreneurs thrive in risky environments because they have confidence in their ability to find the solution. This confidence also means they can better recover from failure and are more likely to try again.

Curiosity

Serial entrepreneurs often display a boundless appetite for learning. Whether it’s acquiring technical knowledge, understanding market trends or delving into new industries, their curiosity drives them to constantly explore and innovate. While some entrepreneurs are content with a single successful business, serial entrepreneurs are perpetual learners and growers. They’re continually asking, what’s next?

KEY MOTIVATIONS AMONG SERIAL ENTREPRENEURS

a) The desire to solve

“I don’t create companies for the sake of creating companies, but to get things done.” — Elon Musk

Serial entrepreneurs tend to be natural disrupters and inherent problem solvers, constantly asking “How can this be done faster or better”. Instead of viewing obstacles as roadblocks, they see opportunities for innovation.

Their ventures often reflect a deep desire to address problems. Take serial entrepreneur Marc Lore, who has built and sold four businesses in 25 years. One of his first ventures, Diapers.com, addressed the needs of overwhelmed parents by offering fast delivery of diapers at competitive prices. The company was acquired by Amazon in 2011 for $550m. Later, he launched Jet.com, an e-commerce platform that optimised pricing and logistics to save customers money.

Walmart purchased Jet.com in 2016 for $3.3bn. Two very different problems, both solved with innovative customer-centric solutions.

b) The drive to execute a plan

“It’s not about ideas. It’s about making ideas happen.” — Scott Belsky, co-founder of Behance

Serial entrepreneurs are dreamers with a plan. They don’t just have vision, they know how to execute it too – and they get a kick out of that. From the thrill of navigating challenges to orchestrating resources, they find satisfaction in taking abstract concepts and ideas and breaking them into actionable steps.

The satisfaction of solving problems and seeing the tangible impact of their work becomes addictive, too. Success in execution offers validation and momentum, inspiring them to obsessively refine processes. Each milestone reflects their ability to make change happen. It’s this push to act, rather than just imagine, that fuels creation and reinvention.

For many serial entrepreneurs, a company loses its lustre after they’ve exited and sold to a major corporation. Working within slower-moving, hierarchical structures can quickly become frustrating, and the inability to implement solutions fast or drive change at the same pace they’re accustomed to can feel stifling.

So, they move on to the next problem.

c) An insatiable appetite for growth

“Business opportunities are like buses — there’s always another one coming.” — Richard Branson. Serial entrepreneurs tend to be restless individuals with an insatiable need to grow, create and conquer. This growth-oriented mindset is rooted in their desire to continually challenge themselves and push boundaries.

While money might not be the primary driver, it certainly doesn’t hurt, since they can leverage the wealth generated from one venture to fund the next, dreaming bigger and taking bolder risks each time. For example, Elon Musk used proceeds from the sale of PayPal to fund Tesla, SpaceX, and SolarCity. Similarly, Richard Branson has leveraged the success of Virgin Records to enter industries as diverse as aviation and space tourism.

Regardless of whether a founder’s first business was a success or not, this drive for growth not only fuels their ambitions but also, according to some research, makes serial entrepreneurs more likely to succeed. According to recent data, repeat founders have consistently raised larger funding rounds from VCs across all stages of the startup lifecycle globally for more than a decade. Nearly half – 49 per cent – of unicorn startup founders in the United States have previously started at least one company, rising to 65per cent in Europe.

d) Failure is better than not trying “I knew that if I failed I wouldn’t regret that, but I knew the one thing I might regret is not trying.”

—

Jeff Bezos, executive chairman of Amazon

INSTEAD OF VIEWING OBSTACLES AS ROADBLOCKS, THEY SEE OPPORTUNITIES FOR INNOVATION

Most academic studies agree that setbacks along the way fuel rather than diminish serial entrepreneurs’ determination. Rather than causing them to shy away from further risk, missteps are seen as learning opportunities, which minimises the psychological impact of setbacks.

Some research has found that experienced entrepreneurs use failure to build “entrepreneurial capital”, which includes skills, knowledge and networks they can leverage in future ventures. In other words, it spurs them on.

Unlike novices, serial entrepreneurs demonstrate a higher ability to learn from mistakes, allowing them to refine their strategies and increase their chances of success over time.

Sara Blakely, founder of Spanx, openly discusses the role of failure in her journey. Growing up, her father would regularly ask her, “What did you fail at today?” This ingrained a mindset where failure wasn’t feared but embraced as part of growth. Similarly, Jeff Bezos has highlighted how Amazon’s failures, like the Fire Phone, paved the way for groundbreaking successes like AWS and Alexa. For these entrepreneurs, the willingness to try, fail, and learn is far more important than playing it safe.

CONCLUSION

Serial entrepreneurs aren’t deterred by uncertainty or the prospect of failure, shame or embarrassment. In fact, it often motivates them. Each new venture represents an opportunity to step into the unknown, solve a problem and turn bold visions into transformative realities. Their ability to find clarity in chaos often leads them to tackle projects that others deem too risky or unconventional, whether it’s pioneering electric cars or disrupting traditional industries.

Ultimately, it’s not just about achieving success, though this is undeniably addictive. What makes serial entrepreneurs tick is the journey itself – the constant push to grow, create and conquer the next frontier. It’s the reason they keep coming back for more. L

The writer is the VP at Dtec.

Hans Christensen

INTO STRENGTH TURN STRESS

ARE YOU READY TO TRANSFORM WORKPLACE STRESS INTO RESILIENCE AND SUCCESS? WE EXPLORE HOW HOLISTIC STRESS MANAGEMENT CAN CREATE A HEALTHIER, MORE PRODUCTIVE CULTURE FOR YOUR ORGANISATION

Teams are delivering incredible results, smashing targets, and reaching new milestones. But effects of workplace stress can be physical conditions like hypertension, insomnia, or migraines, or mental health struggles such as anxiety and burnout. It can also lead to behavioral issues like reckless driving, heavy drinking, substance abuse, or a constant “living on the edge” attitude. No matter how it presents itself, these are all signs of unrelenting workplace stress, a silent epidemic that can no longer be ignored.

Workplace stress is a major problem currently. According to the Cigna Healthcare Vitality Study, 89 per cent of people here are stressed. Ninety-nine per cent of respondents admitted to feeling at least one symptom of burnout last year. Money is the biggest stress trigger; personal and family finances keep people up at night. These statistics are a wake-up call for companies to take stress management seriously. High-performing teams are celebrated for their output, but the relentless pressure can quietly erode their creativity, collaboration, wellbeing, and sometimes lives. For organisations looking to achieve long-term success, supporting their people with holistic stress management strategies is no longer an option, it is a necessity.

WHY HOLISTIC STRESS MANAGEMENT MATTERS

Stress is inevitable in the workplace, especially for high-performing teams, but it doesn’t have to derail

MINDFULNESS IS A PROVEN TOOL FOR BUSTING STRESS AND IMPROVING FOCUS

productivity or wellbeing. A holistic approach to stress management can turn pressure into resilience and drive real, measurable improvements in team performance and happiness. Let’s dive into some practical and holistic strategies that for reducing corporate stress.

FUEL PERFORMANCE WITH SMARTER NUTRITION

A team that eats well, works well. Nutrition is the backbone of sustained energy and mental clarity, yet many workplaces overlook this. Meetings filled with sugary snacks can easily be swapped for fresh fruit, nuts, and whole grains. Nutrition workshops can educate employees on how food choices impact their energy and stress levels. Access to water and herbal teas can keep minds sharp and fatigue at bay.

BRING MINDFULNESS INTO EVERYDAY MOMENTS

Mindfulness is a proven tool for busting stress and improving focus. Simple practices like starting meetings with a one-minute breathing exercise or encouraging five-minute mindfulness breaks during highstress periods can go a long way. Resources like Calm or Headspace make mindfulness accessible and practical, helping employees overcome the toughest challenges with clarity and poise.

MAKE MOVEMENT PART OF THE WORKDAY

Movement is an instant mood lifter

A

HOLISTIC

APPROACH TO

STRESS MANAGEMENT CAN TURN PRESSURE INTO RESILIENCE AND DRIVE REAL, MEASURABLE IMPROVEMENTS IN TEAM PERFORMANCE AND HAPPINESS. LET’S DIVE INTO SOME PRACTICAL AND HOLISTIC STRATEGIES THAT FOR REDUCING CORPORATE STRESS.”

Gayu Lewis

and productivity booster. Try walking meetings, they are great for creative brainstorming and stress relief. Share quick desk stretch guides to ease physical tension or introduce friendly step-count challenges to get everyone moving. Even small bursts of activity can recharge mental and physical energy.

PRIORITISE REST AND RECOVERY

Burnout thrives when recovery is ignored; sleep is often the first casualty. The Cigna Healthcare International Health Study 2024 highlights that poor sleep is a major concern, worsened by stress and late-night screen habits. Flexible work hours let employees work in sync with their natural productivity peaks. Workshops on sleep hygiene including creating bedtime routines or cutting screen time can also help. Don’t underestimate the power of recharge zones, quiet spaces where employees can take a breather and reset.

BREAK FREE FROM THE CAFFEINE TRAP

We have all reached for that extra coffee to power through, but too much caffeine can lead to energy crashes and disrupted sleep. Encourage moderation, limit coffee to mornings, and offer alternatives like herbal teas or infused water. Educating employees on the impact of excessive caffeine can help them make healthier choices and maintain consistent energy throughout the day.

ADDRESS FINANCIAL STRESS HEAD-ON

Companies can help with financial stress by offering resources like financial planning workshops or counseling to ease the burden. Transparent communication about compensation and benefits can also reduce uncertainties and facilitate trust, creating a more supportive environment.

WHY HOLISTIC STRESS MANAGEMENT WORKS

Unlike cookie-cutter solutions, holistic stress management recognises the interconnected nature of stress. By addressing nutrition, movement, mindfulness, and recovery, organizations can build resilient teams, reduce absenteeism and turnover, and create a culture that attracts and retains top talent. L

The writer is a board-certified integrative nutritionist and holistic health coach.

BY ERIC JARDINE FEATURE

Centralised services, such as cryptocurrency exchanges, are managed by a single authority and are often easier for newcomers to navigate. Decentralised finance (DeFi) platforms, by contrast, operate without a central authority, relying instead on blockchain technology and smart contracts to execute transactions. Both enjoy popularity in the UAE, where utilisation is near evenly split between both offerings.

Stay a step ahead

LESSONS FOR GOVERNMENTS, LAW ENFORCEMENT, AND ORGANISATIONS TO HELP DEFEND AGAINST EVOLVING CRYPTO-HACKING TRENDS

As cryptocurrency continues to mature into a mainstream asset class, its global impact is becoming increasingly undeniable. The SEC’s approval of Bitcoin exchange-traded funds (ETFs) in early 2024, and the UAE Central Bank’s pioneering stablecoin regulations are just a few milestones highlighting its growing legitimacy. Yet, this very growth has made cryptocurrency an even more enticing target for malicious actors – after all, a greater market cap translates to a greater attack surface area, and in turn, a greater potential for illicit gains. Hacking remains one of the most persistent threats to the crypto ecosystem. Over the past decade, five separate years (2018, 2021, 2022, 2023, and 2024) have seen more than $1bn worth of cryptocurrency stolen. In 2024 alone, stolen funds increased by over 21 per cent year-on-year to reach $2.2bn, with hacking incidents rising from 282 to 303. This alarming trend underscores the urgent need for governments, organisations, and law enforcement to understand and counteract these threats.

NO SERVICE IS SAFE

To effectively address hacking in the cryptocurrency space, it is essential to recognise the differences between centralised and decentralised services as the ways in which cryptocriminals exploit these services also varies.

Between 2021 and 2023, DeFi platforms were disproportionately targeted by hackers. This is likely due to the fact that many developers in the DeFi space prioritised rapid growth and innovation over robust security measures, leaving these platforms vulnerable to exploitation. Interestingly though, while DeFi platforms continued to account for the largest share of stolen assets in early 2024, centralised services became the primary targets by the second and third quarters of the year. High-profile centralised service hacks such as the $305m breach of DMM Bitcoin in May 2024 and the $234.9m theft from WazirX in July 2024 illustrate the evolving threat landscape. For both service providers, as well as users of these services, it’s important to recognise that hackers are ready and able to exploit either option, making robust security practices a mandate.

SECURING PRIVATE KEYS

So what does the recent shift in hacker focus from DeFi platforms to centralised services mean for the crypto community? Perhaps most importantly, it highlights the critical importance of private key security. Private keys act as the gateway to crypto assets, and compromising them can lead to devastating losses. Consider that in 2024, private key breaches alone accounted for 43.8 per cent of stolen cryptocurrency, with significant impacts on exchanges holding large amounts of user funds. The devastating DMM Bitcoin hack is a cautionary tale, likely resulting from poor private key management or inadequate security protocols.

Once private keys are compromised, hackers typically launder stolen funds through decentralised exchanges (DEXs), mixing services, or cross-chain bridges to obfuscate the transaction

trail. Interestingly, laundering techniques vary by attack vector. Hackers who exploit private keys often favour mixing services and bridges, whereas those employing other methods gravitate toward DEXs. To counter these activities, governments and law enforcement agencies must invest in advanced tracing tools and foster more collaboration with private sector stakeholders to enhance their investigative capabilities.

MITIGATING RISKS

Nation-state actors have long been a driving force behind cryptocurrency crime, particularly North Korea, which leverages cryptocurrency as a financial alternative to circumvent international sanctions and fund their ballistic missiles programme. Over the past three years, the Democratic People’s Republic of Korea (DPRK) has been linked to many high-value crypto exploits. However, a new trend emerged in 2024: the nation’s role in perpetrating a rising density of lower-value hacks, particularly those around $10,000. Concerningly, many of these smaller incidents have been traced back to North Korean IT workers infiltrating cryptocurrency and Web3 companies. These workers employ sophisticated tactics, including false identities, third-party hiring intermediaries, and exploiting remote work opportunities to gain unauthorised access to company systems. For organisations, mitigating these risks requires a robust approach to employee due diligence. Comprehensive background checks and identity verification processes are critical. Additionally, companies managing cryptocurrency must maintain strict private key hygiene and ensure access to sensitive systems is tightly controlled.

REACTIVE TO PREDICTIVE CYBERSECURITY

One of the most promising developments in the fight against crypto hacking is the emergence of advanced predictive technologies. These tools enable organisations to shift from a reactive to a proactive approach by identifying potential threats in real time. For example, predictive solutions can continuously scan smart contracts and transactions, detecting suspicious patterns before financial losses occur. However, access to predictive models alone is insufficient. To effectively combat hacking, crypto platforms must not only implement these technologies but also equip their teams with the expertise to act swiftly and decisively when threats are identified. Governments and law enforcement agencies can promote the adoption of predictive tools across the industry and provide training to ensure their effective use.

BUILDING STRONGER DEFENCES

The rise in crypto theft in 2024 underscores the need for a stronger, more unified approach to combating hacking. While the scale of stolen assets has not yet returned to the levels seen in 2021 and 2022, the resurgence of highprofile exploits and shifting attacker techniques reveals vulnerabilities that must be addressed.

ONE OF THE MOST PROMISING DEVELOPMENTS IN THE FIGHT AGAINST CRYPTO HACKING IS THE EMERGENCE OF ADVANCED PREDICTIVE TECHNOLOGIES. THESE TOOLS ENABLE ORGANISATIONS TO SHIFT FROM A REACTIVE TO A PROACTIVE APPROACH BY IDENTIFYING POTENTIAL THREATS IN REAL TIME.”

Collaboration between the public and private sectors is essential to effectively counter these threats. Data-sharing initiatives can help stakeholders quickly identify malicious actors and neutralise threats, while targeted training can equip organisations with the skills needed to defend against emerging attack vectors. As regulatory frameworks for cryptocurrency continue to evolve, platform security and customer asset protection will face greater scrutiny. Organisations must adopt industry best practices that align with these regulations, ensuring both robust prevention measures and accountability mechanisms.

KEY PARTNERSHIPS

Law enforcement agencies and governments have a unique role to play in fostering resilience across the crypto industry. By strengthening partnerships with private sector players, they can improve information sharing and streamline the response to hacking incidents.

Advanced tracing tools and blockchain analytics solutions can empower investigators to follow the trail of stolen assets and disrupt criminal networks. Additionally, regulatory clarity can encourage compliance and ensure that crypto platforms prioritise security. In the UAE, for instance, the implementation of stablecoin regulations has set a strong precedent for balancing innovation with risk management. L

the

The writer is

cybercrime research lead at Chainalysis.

Steve Hill

BY CATHY FARLEY

HOW HR NAVIGATES THE INTRICACIES OF A FAMILY BUSINESS

THE ROLE OF HR IN FAMILY BUSINESSES IS NOT JUST ABOUT MANAGING PERSONNEL BUT ALSO ABOUT FOSTERING A SUPPORTIVE ENVIRONMENT THAT ALIGNS WITH FAMILY VALUES AND BUSINESS OBJECTIVES

Human resources (HR) is a cornerstone of your business’s health. It ensures smooth operations and harmonious workplace relationships covering areas including recruitment, training, performance management, employee relations and much more. HR is complex at the best of times, but in family businesses, the delicate balance of regular HR duties and family politics can make it especially challenging.

In 2024, it’s pretty much agreed that HR should be seen as a strategic partner rather than just a support function. The rise of the chief human resources officer (CHRO) is a testament to that change, and the strategic relationship between HR and every aspect of the business – including a seat at the leadership table – is never more crucial than when dealing with a family business.

Here, we discuss how HR functions in a family business environment in comparison to a conventional company, and I’ll argue that it’s only when HR is used strategically that many of the problems associated with family-run enterprises can be mitigated.

HOW HR FUNCTIONS IN A CONVENTIONAL COMPANY

Let’s start with a quick recap of what we might expect from HR in a typical organisation that is not family-based. In such companies, HR plays a crucial role in recruitment, onboarding, training, and development. HR also evaluates employee performance, develops compensation and benefits packages, and ensures compliance with labour laws and industry standards. Since all of these points apply to any business, the next question is, what specific issues will HR need to address in family-owned companies?

UNIQUE HR CHALLENGES IN A FAMILY BUSINESS

Family-owned businesses often benefit from strong commitment, loyalty and long-term vision – and they have the potential to foster a unique culture and the kind of personal touch that can enhance customer relations. But here is what I see as the specific challenges for HR professionals when it comes to working with these types of companies:

• Clarifying organisational structure and roles: In large and complex family businesses, it’s essential to clearly outline responsibilities and expectations for each role to ensure smooth operations and employee satisfaction. These things can get a little tangled in family businesses when they start and often fail to get untangled as they grow. So, well-defined organisational charts can help with this, as well as ensuring that each team member truly knows their role, their position within the company, and how it contributes to the company’s goals.

• Succession planning and hiring:

To my mind, this is the biggest challenge because succession planning is critical for the survival and continuity of a family business. The problem here is that there is often insufficient planning ahead of time, and not enough consideration is given to what an external candidate might offer. Equally, insufficient work is done to develop a pipeline of capable internal candidates ready to step into key roles. All of this must be executed

within the family’s overall vision for the business while balancing it with what will make the company competitive in the long term.

• Mitigating legal risks: Navigating employment laws and regulations can be particularly challenging for large family businesses that may have grown without an HR front and centre. So, any incoming HR professional must ensure compliance with labour laws and employment standards to reduce the risk of costly legal issues. This proactive approach helps protect the company’s financial interests and maintains its reputation with employees, customers and the community.

• Embedding culture and values: Family businesses often have unique cultures and values that reflect the family’s beliefs and aspirations. HR must ensure these core values are integrated into all aspects of the organisation – from recruitment to daily operations. This helps reinforce the company’s identity and fosters a strong sense of belonging and loyalty among employees. Effective onboarding and exit interviews can also enhance this company culture.

• Balancing family and professional dynamics: We talked about workplace harmony as a duty of HR in any organisation, but when we look at family businesses, we find that professional relationships can be particularly complicated. HR must navigate the delicate balance between family loyalty and fair treatment of non-family employees, ensuring that if favouritism or conflicts of interest arise, they are dealt with quickly and fairly. Establishing well-defined policies is crucial, as is creating guidelines for family involvement in the business, conflict resolution procedures, and professional boundaries.

• Family and non-family communication: As an overall principle, encouraging open dialogue between family members and non-family employees can help address issues before they escalate. Regular meetings and feedback mechanisms can promote transparency and inclusiveness.

WHEN TO HIRE FROM OUTSIDE

As noted above, hiring from outside will be one of the biggest challenges for HR in a family business. However, bringing in external hires – whether in leadership positions or more junior roles – can introduce fresh perspectives and innovative practices that might not be present within the family. This infusion of new ideas can help the business adapt and grow in a competitive landscape.

While sometimes they are indeed the best person for the job, family members may sometimes lack the specific skills or experience needed for certain roles, making external candidates more suitable. Hiring externally can also help maintain objectivity, providing an impartial viewpoint that helps balance family dynamics.

WHO SHOULD PERFORM THE HR ROLE IN A FAMILY BUSINESS?

We have discussed the specifics of HR’s role in a family

business, but who should head up HR itself? In the early stages of a business — family-owned or otherwise — HR responsibilities may be assigned to someone with another primary role within the company. In this kind of scenario, the HR function can suffer from neglect, especially if the person in charge lacks formal HR training.

A specific problem arises if the person in charge of HR is a family member, and the lines between personal and professional responsibilities start to blur. The family dynamics of mutual support and loyalty can conflict with the business’s need for adherence to regulations. So family members in HR positions must ensure they follow established HR protocols, rather than allowing personal relationships to influence their decisions. The alternative to this is bringing in an external head of HR (or CHRO) who may be able to help the company by giving more objective advice and guidance.

HR’s role in family businesses is not just about managing personnel but also about fostering a supportive environment that aligns with family values and business objectives. By embracing a strategic approach and integrating HR practices with broader business goals, HR can significantly enhance family-run enterprises’ overall performance and cohesion.

As we have seen, navigating the intricacies of a family business presents unique challenges for HR professionals. While they must perform traditional HR functions such as recruitment and performance management, they must also address the complex interplay of family relationships, succession planning and fairness.

HIRING EXTERNALLY CAN ALSO HELP MAINTAIN OBJECTIVITY, PROVIDING AN IMPARTIAL VIEWPOINT THAT HELPS BALANCE FAMILY DYNAMICS

By developing clear policies, fostering open communication and considering external expertise, HR can effectively balance family dynamics with professional needs, ensuring the long-term success and harmony of the business. L

The writer is the founder and CEO at Talent Higher

Cathy Farley

BY MICHAEL WATKINS AND CHRIS DONKIN

THE EXECUTIVE’S

GUIDE TO RETIREMENT

EVERYTHING YOU NEED TO KNOW TO KNOW BEFORE START THE NEXT CHAPTER OF YOUR

LIFE

hen Reed Hastings announced his departure as CEO of Netflix in January 2023, his succession felt natural and even inevitable. The same was true when Jacinda Ardern stepped down as Prime Minister of New Zealand that same month. Both transitions appeared effortless, but such smooth handovers are rare. Most senior leaders struggle significantly with the decision to step down, often holding on long after their optimal departure date.

If you’re a senior leader contemplating retirement, you are likely facing this struggle firsthand. Your challenges are more complex and nuanced than most succession literature suggests. Through our research and extensive work with retiring executives, we have found that the barriers to a successful transition are primarily psychological rather than practical — and addressing them requires a deep understanding and strategic action.

UNDERSTANDING THE INNER STRUGGLE

The psychological barriers to retirement run far deeper than most leaders initially recognise. These barriers are

not merely professional concerns but profound psychological constructs built and reinforced over decades of leadership. They are intricately woven into the fabric of one’s identity, self-worth, purpose, and mortality. Understanding these barriers and acknowledging their power is the crucial first step toward navigating a successful transition.

A) The identity paradox

The very traits that propelled you to leadership and sustained your success can become significant obstacles in recognising when it’s time to step down. Determination, resilience, unwavering commitment, and the ability to overcome challenges have defined not just your leadership style but your entire approach to life. The cognitive dissonance becomes fundamental: how can stepping away be the right choice when persistence has always been the

answer? This paradox explains why many capable leaders hold on too long, potentially compromising their organisations’ future success and their own legacies. The traits that were once assets become liabilities in the face of succession.

B) The emotional reality

The intellectual understanding of retirement timing often collides with emotional unreadiness. This disconnect between rational acceptance and emotional resistance creates a complex internal struggle that can paralyse decision-making. The emotional dimension of retirement extends far beyond the simple fear of change — it encompasses feelings of loss, questions of self-worth, and deep-seated anxieties about the future.

C) The support system shift

The corporate infrastructure surrounding senior leadership is an invisible yet essential part of daily operations. This support system goes beyond mere convenience; it extends your capabilities and amplifies your impact and efficiency. The potential loss of this infrastructure is more than a practical challenge; it signifies a fundamental shift in how you interact with the world and your ability to create change.

THE EXISTENTIAL QUESTION

The most profound challenge is confronting the existential implications of retirement. For leaders who have dedicated decades to their organisations, this role transcends mere employment — it becomes a core part of their identity and purpose. Retirement forces a confrontation with the end of a career and questions about personal legacy, mortality, and meaning. This existential reckoning demands a fundamental reevaluation of how you define yourself and your worth beyond your professional achievements. The challenge is not just about leaving a role; it’s about reconceptualizing your place in the world and your sources of meaning and purpose.

MANAGING THE PSYCHOLOGICAL TRANSITION

The psychological journey of retirement requires as much strategic planning as the operational handover of your role. While organisations typically have detailed protocols for succession planning, the psychological transition demands equal, if not greater, attention. This internal journey must be approached with the same rigor and strategic thinking that characterised your leadership career.

1) Understanding your emotional timeline Research has identified distinct emotional phases that executives typically experience during retirement transitions. The journey begins with an anticipatory phase marked by mixed emotions of anxiety and excitement. Many leaders enter a period of euphoria and relief upon retirement — a psychological unleashing from years of pressure and responsibility. This initial honeymoon phase, however, typically

gives way to a more complex emotional landscape.

The second phase often brings unexpected challenges as the reality of the transition sets in. This period can involve feelings of disorientation, loss of purpose, and questioning of identity. The timing and intensity of this phase vary, but its arrival is nearly universal. Understanding this emotional arc helps normalise the experience and provides a framework for managing these challenges proactively.

The final phase involves reinvention and renewal, where leaders begin to craft their new identity and purpose. This stage requires active engagement in creating meaning beyond traditional professional achievements. The timeline for reaching this phase varies significantly, and preparation, support systems, and individual psychological readiness influence it.

2) Creating psychological anchors

The transition from structured leadership to retirement requires establishing new psychological foundations. These anchors serve as stabilising forces during periods of uncertainty and change. They provide continuity of purpose while allowing space for new growth and discovery.

Effective psychological anchors combine structure with flexibility, maintaining connections to areas of expertise while fostering new interests and relationships. They should be deliberately designed to support intellectual engagement and emotional well-being. The key is creating systems that provide stability without recreating the constraints of corporate life.

THE INTELLECTUAL UNDERSTANDING OF RETIREMENT

TIMING OFTEN COLLIDES WITH EMOTIONAL UNREADINESS. THIS DISCONNECT BETWEEN RATIONAL ACCEPTANCE AND EMOTIONAL RESISTANCE CREATES A COMPLEX INTERNAL STRUGGLE THAT CAN PARALYSE DECISION-MAKING.”

Michael Watkins

THE KEY IS CREATING SYSTEMS THAT PROVIDE STABILITY WITHOUT RECREATING THE CONSTRAINTS OF CORPORATE LIFE

3) Working with transition coaches

Professional support during this transition can be invaluable. Transition coaches specialise in the unique psychological challenges faced by retiring executives. They bring expertise in identity reformation, status adjustment, and the creation of new purpose narratives. Their role extends beyond traditional executive coaching, focusing specifically on the psychological dimensions of retirement.

These specialists help leaders navigate the complex terrain between their executive identity and their emerging post-retirement self. They provide tools for managing the psychological aspects of transition, from processing the loss of power and influence to developing new sources of meaning and fulfillment.

The coaching relationship offers a structured space for exploring anxieties, testing new ideas, and developing strategies for emotional resilience. It provides accountability and support while helping leaders maintain perspective during challenging transition phases. Most importantly, it helps transform what could be a period of decline into an opportunity for growth and reinvention.

This work often involves developing new metrics for success, redefining relationship dynamics, and creating frameworks for decision-making in this new phase of life. The goal is not to eliminate the transition challenges but to develop the psychological tools and perspectives needed to navigate them effectively.

BUILDING MEANINGFUL POST-RETIREMENT ACTIVITIES

The transition from executive leadership to retirement

requires a fundamental shift in how you conceptualise engagement and purpose. The challenge is not to fill time — your network and reputation will generate more opportunities than you can accept —but to create a portfolio of activities that provides genuine fulfillment and leverages your capabilities in meaningful ways.

A) Beyond traditional board work

While board positions represent a natural extension of executive experience, the most fulfilling post-retirement careers often transcend conventional corporate roles. The key lies in identifying opportunities that align with your interests while allowing you to apply your leadership experience in fresh contexts. Consider roles that challenge you to think differently, engage with new demographics, or address problems from different angles than those you encountered as an executive.

B) Creating impact through teaching and mentoring

The transmission of knowledge and experience to future leaders offers a particularly rewarding path for retired executives. Teaching and mentoring roles provide intellectual stimulation while offering the opportunity to shape future business leaders. These roles demand a different kind of leadership — one focused on developing others rather than directing outcomes — and often lead to unexpected personal growth as you articulate and examine your own leadership principles and experiences.

C) Entrepreneurial ventures with purpose

Post-retirement entrepreneurship fundamentally differs from traditional business leadership. Retired executives can pursue ventures driven primarily by purpose and passion, free from the pressures of shareholder expectations and quarterly results. These endeavors often focus on solving societal challenges or addressing market gaps identified during their executive careers. This allows them to combine their business acumen with personal values in ways that were not always possible in a corporate setting.

NAVIGATING FAMILY DYNAMICS

The personal aspect of retirement can be just as challenging as the professional shift. Moving from having limited family time to being constantly present demands careful navigation and clear communication. This change influences not only daily routines but also the core dynamics of relationships that have developed over decades of executive life.

1) Redefining domestic roles

The domestic sphere often has well-established systems and patterns developed over years of executive focus. Retirement requires carefully renegotiating roles, responsibilities, and decision-making processes. This adjustment needs sensitivity to existing patterns and recognition that efficiency in domestic matters may not align with corporate management principles.

2) Managing expectations

Retirement expectations often differ significantly among family members. These differences extend beyond daily routines to encompass fundamental questions about lifestyle, time allocation, and future plans. Resolving these differences requires the same level of strategic thinking and communication you applied to corporate challenges but with an added layer of emotional complexity.

3) Creating new shared experiences

The development of new shared activities and interests becomes crucial in retirement. This process involves more than simply spending more time together—it requires building new patterns of interaction and finding fresh ways to connect outside the familiar context of business life. The goal is to develop activities that create mutual engagement while respecting individual interests and needs.

4) Maintaining personal space

Preserving individual autonomy while increasing togetherness becomes a crucial challenge in retirement. This balance requires a conscious effort to maintain separate interests and activities while building a new shared life. The key is developing patterns that allow for both independence and togetherness, creating a sustainable rhythm for this new phase of life.

MAKING THE TRANSITION WORK

The practical aspects of retirement require as much attention as the emotional and relational dimensions. Time management becomes more complex when one moves from a structured corporate environment to self-directed days. The challenge is creating enough structure to maintain purpose and productivity while preserving retirement’s freedom.

Financial planning should go beyond traditional retirement considerations to include the practical aspects of new activities and ventures. This planning must address both personal fulfillment and practical needs, creating a framework that supports your chosen post-retirement activities while ensuring long-term security.

Cultivating and maintaining support networks is crucial during this transition. These networks should go beyond professional connections and include individuals who offer emotional support and guidance during this significant life change. The aim is to build a diverse support system that helps people navigate retirement’s practical and emotional challenges.

LOOKING FORWARD

The art of stepping down lies not in denying these psychological barriers but in acknowledging and working through them while building a meaningful next chapter.

The most successful transitions we’ve observed share a common element: the retiring leader shifted their mindset from loss to creation. They viewed retirement not as the end of their leadership journey but as the beginning of a new chapter where their experience and wisdom could be applied in different, often more personally meaningful ways.

Your next chapter awaits. The question is not whether you will write it but how you will approach it. Will you hold on for too long, potentially diminishing your legacy? Or will you begin now to create a transition that honors both your achievements and your organisation’s future?

The goal is not to replicate the intensity and structure of executive life but to create a new chapter that provides meaning, impact, and personal fulfillment while utilising the valuable experience and insights gained throughout your leadership career. By recognizing the psychological challenges and actively working toward your next chapter, you can create a transition that meets both your personal needs and your organisation’s future. L

YOUR NEXT CHAPTER AWAITS. THE QUESTION IS NOT WHETHER YOU WILL WRITE IT BUT HOW YOU WILL APPROACH IT

Michael Watkins is a professor of leadership at the IMD Business School, co-founder of Genesis Advisers, and author of The Six Disciplines of Strategic Thinking and The First 90 Days Chris Donkin is MD at Savannah Group .

Chris Donkin

WITH A CAREER THAT SPANS CONTINENTS AND INDUSTRIES, SORAYA B EN CHIKH, BAT’S GROUP CHIEF FINANCIAL OFFICER, HAS ESTABLISHED HERSELF AS A CORPORATE TRAILBLAZER. ON A RECENT VISIT TO DUBAI, BENCHIKH SHARED HER INSIGHTS ON LEADERSHIP AND HER JOURNEY TO THE TOP

LEADING PURPOSE WITH

WORDS GARETH VAN ZYL

PHOTOS MARK MATHEW

Sipping her coffee in a modern, wellappointed office on the 39th floor of BAT’s Dubai headquarters, with the city’s iconic skyline stretching out below, Soraya Benchikh exudes calm, approachability, and poise.

As BAT Group’s Chief Financial Officer, Benchikh was in Dubai on a brief business trip in January, connecting with staff and overseeing operations.

Based in the UK, Benchikh has been in her current role for eight months. Yet, she is no stranger to BAT, having spent over two decades with the company before a high-profile stint as President of the European region at beverage giant Diageo. In the buzzing Dubai offices, the excitement was palpable as staff and senior leaders gathered for meetings and events organised to mark her visit.

If you didn’t know her story, you might not guess the immense journey that has brought Benchikh to this point. Raised in Beirut during the turbulent 1980s, she and her family fled to Europe as refugees. “I ended up in Europe as a refugee. I went to school there for a few years and later attended university to study my passion — mathematics. I didn’t overthink it; I just pursued what I enjoyed,” she recalls.

The challenges of displacement taught her resilience and adaptability. After graduating, she faced the uncertainty of life on a refugee visa.

IN 2023, BAT CAME CALLING. BENCHIKH SAW THE CHANCE TO RETURN TO A COMPANY SHE KNEW INTIMATELY WHILE EMBRACING A FRESH CHALLENGE AS CFO DURING A PIVOTAL PERIOD

“I needed to find a job, and at a career fair, I came across a stand for accountancy and thought I’d give it a shot. That’s how I joined a management trainee programme at Gillette,” she explains. This first role proved to be a critical launchpad for her career.

Early in her professional life, Benchikh excelled in finance, taking on foundational roles that demonstrated her leadership potential. A move to General Electric expanded her horizons as she travelled extensively, leading system implementation projects.

She then joined Rothmans just before its merger with BAT, where her career trajectory accelerated.

“At Rothmans, a year later, the merger with BAT happened. I started my career in finance as a qualified accountant, and my first finance director role was in North Africa. This was particularly exciting as it was my first professional role in the Middle East,” she says.

In Cairo, she was immersed in Middle Eastern business cultures while managing diverse challenges.

“The role offered incredible diversity: starting up a business in Egypt, bidding for the Moroccan monopoly, managing a joint venture in Tunisia, and overseeing market entry in Algeria. It was an incredible experience,” she adds.

From there, Benchikh’s career flourished. She advanced through several finance director roles, including BAT France, before moving to Russia and eventually taking on a regional position in London. While in London, she also experienced significant personal milestones, meeting her husband and starting a family.

TURNAROUND EXPERT

During her regional finance role, she noticed how closely finance and general management intersected at BAT, sparking her desire to transition into general management. Her first such opportunity came in France, where she turned around a struggling company in just three and a half years.

Building on this success, she was promoted to lead one of BAT’s largest businesses in the Southern African region, based in Cape Town and Johannesburg. This role brought complex challenges, including collaboration with governments to address trade issues. Again, her leadership transformed the

SORAYA BENCHIKH’S CAREER TIMELINE

2024

Appointed CFO of BAT Group, bringing her extensive leadership experience to drive transformation.

2023

Promoted to President, Europe at Diageo, establishing a Middle Eastern head office in Dubai.

2020

Joined Diageo as Managing Director for Northern Europe.

Mid-2010s

Transitioned into general management, successfully leading a turnaround in France and later managing BAT’s Southern African operations.

Early 2000s

Joined BAT, taking on finance roles in Egypt, France, Russia, and London, and becoming Finance Director for BAT France.

1990s

Began her career at Gillette as a management trainee, gaining foundational knowledge in finance.

company’s performance, earning it a Group award after four years.

Her reputation as a transformative leader led to her recruitment by Diageo, where she took on the role of Managing Director for Northern Europe, overseeing 11 countries from a base in Hamburg, Germany. Taking on this role during the COVID-19 pandemic posed unique challenges. “The pandemic was a period of immense learning for me,” she reflects. “Navigating a new industry remotely taught me the importance of resilience and collaboration.”

Despite these hurdles, her fresh perspective helped identify market opportunities and capitalise on shifts in consumer behaviour, resulting in significant business growth. After two and a half years, her achievements earned her a promotion to Diageo’s executive committee as President for Europe. In this capacity, she spearheaded the establishment of Diageo’s Middle Eastern head office in Dubai, which became one of the group’s fastest-growing units.

In 2023, BAT came calling. Benchikh saw the chance to return to a company she knew intimately while embracing a fresh challenge as CFO during a pivotal period.

“Initially, I was torn about leaving my role at Diageo, but I was excited about the transformation journey at BAT — both in business and culture. And here I am,” she says.

DRIVING INCLUSION AND EMPOWERMENT AT BAT

Soraya Benchikh is fully committed to BAT’s transformative journey, and she is highly supportive of ensuring diversity, equity, and inclusion (DEI) within the organisation. She firmly believes in the power of inclusivity to create a thriving workplace.

“At BAT, diversity, equity, and inclusion are at the heart of our values. These principles drive initiatives designed to help women excel and advance into leadership and management roles,” she shares.

To nurture a truly inclusive culture, BAT has implemented key initiatives such as “Women in BAT,” “Women in STEM,” and “Women in Leadership.” These programmes provide mentorship, training, and essential resources to empower women in industries where they have historically been underrepresented.

Highlighting the measurable impact of these initiatives, Soraya explains, “By 2025,

we aim to have women make up 40 per cent of senior leadership teams and 45 per cent of management roles. Programmes like Women in Leadership, which now supports around 1,000 female managers, are accelerating careers and creating lasting impact.”

Soraya’s approach to leadership extends beyond strategy to hands-on engagement.

“Being in the leadership team at BAT, I see my role as championing these initiatives, setting an example, and fostering a culture where women feel supported, valued, and inspired to succeed,” she says.

Her active participation in forums such as the International Women’s Forum underscores her commitment to advancing gender equity and empowering women on a global scale.

A LEADERSHIP STYLE SHAPED BY HERITAGE

Soraya Benchikh’s Middle Eastern heritage has profoundly shaped her leadership philosophy. “As a Lebanese woman with extensive experience working for leading corporations in many parts of the world, I’ve been deeply influenced by the incredible women I’ve had the privilege to work alongside,” she shares. Her upbringing instilled resilience and adaptability, qualities that have been instrumental in her success.

The Gulf region’s remarkable progress in empowering women resonates deeply with her. “Witnessing the progress across the Middle East today is truly inspiring. The efforts of GCC governments to empower women are commendable,” she states. Highlighting initiatives like Saudi Vision 2030 and the UAE’s Gender Balance Council, she adds, “These efforts are

similar to BAT’s global vision to empower women and enable them to excel in every sphere of life.”

BUILDING INCLUSIVITY

Under Soraya’s leadership, BAT has embraced ambitious goals for sustainability and inclusivity. “We’ve set bold targets to make BAT sustainable and inclusive. My aim is to create a workplace where everyone can flourish,” she explains. Central to this vision is leveraging innovation and technology, with the Dubai office serving as a hub for initiatives like AI, which drives transformation across the company.

Representation is a cornerstone of her mission to foster inclusivity. “Representation matters. At a recent town hall, younger team members asked me for career advice and it was inspiring for me to see the next generation looking to grow,” she notes. BAT’s Middle Eastern operations reflect this commitment, with women comprising 30 per cent of the Saudi workforce and 42 per cent of management.

Her perspective as a Middle Eastern leader in a global corporation brings unique insights. “Growing up in a region with a strong sense

Getty Images

of community and relationships shapes your leadership style,” she reflects. This perspective equips her to navigate volatile markets and build cohesive, high-performing teams.

BAT’S VISION AND GROWTH IN THE MIDDLE EAST

Since its founding in 1902, BAT has transformed into a multicategory consumer goods business. Soraya explains, “We’re not just talking about change — we’re driven by it. Our vision focuses on offering reduced risk alternatives to traditional products, empowering consumers to make informed choices.”

The company’s commitment to innovation extends to new markets and sustainability.

“Our investments in innovation, production, and market expansion demonstrate our commitment to creating a sustainable business that transcends traditional boundaries. Collaborating with healthcare professionals and regulators is a key part of our approach,” Soraya adds. BAT invests over £300m annually in research and development for its New Category products, a testament to its dedication to reshaping the industry and prioritising the importance it places on consumer choice.

The Middle East has emerged as a crucial growth market for BAT, given the region’s openness to innovation and progressive regulatory frameworks.

“The opportunities in the Middle East are immense, particularly in New Categories,” Soraya shares.

The Dubai office has become a hub for innovation, driving initiatives like artificial intelligence to enhance supply chain efficiency and consumer insights.

“AI has infinite applications, and the work being done in our Middle Eastern offices is absolutely critical to our global vision,” she notes.

The region also reflects BAT’s commitment to diversity. With women comprising a growing share of the workforce, the company is setting benchmarks for equity and innovation. “Representation matters,” Soraya emphasises, adding that the GCC’s modern, techsavvy population aligns with BAT’s vision for sustainable growth.

Sustainability remains central to BAT’s mission.

“At BAT, our purpose is to foster a culture where everyone can thrive. This strong sense of purpose is what drives us every day,” Soraya explains. By integrating sustainability

OUR INVESTMENTS IN INNOVATION ,

SINCE ITS FOUNDING IN 1902, BAT HAS TRANSFORMED INTO A MULTICATEGORY CONSUMER GOODS BUSINESS

BAT INVESTS OVER £300 MILLION ANNUALLY IN RESEARCH AND DEVELOPMENT FOR ITS NEW CATEGORY PRODUCTS, A TESTAMENT TO ITS DEDICATION TO RESHAPING THE INDUSTRY

into every facet of operations, BAT aims to create lasting value for consumers and the world at large.

The GCC has been integral to BAT’s strategy for over six decades, aligning with the region’s push for innovation and economic diversification.

“The region’s openness to innovation, coupled with its progressive regulatory landscape, makes it a key growth area for us,” Soraya adds. Collaborating with governments, regulators, and communities, BAT contributes to shared goals of sustainability and economic progress.

Soraya’s leadership highlights how resilience and innovation can redefine an industry. “The GCC is a vital part of our global strategy,” she concludes.

“Through our initiatives and partnerships, we’re not just transforming our business but also contributing to the transformative journey of the region.”

PRODUCTION,

AND

MARKET EXPANSION DEMONSTRATE OUR COMMITMENT TO CREATING A SUSTAINABLE BUSINESS THAT TRANSCENDS TRADITIONAL BOUNDARIES. COLLABORATING WITH HEALTHCARE PROFESSIONALS AND REGULATORS IS A KEY PART OF OUR APPROACH.”

BY NEESHA SALIAN INTERVIEW

TOOLS FOR TRANSFORMATION

Vishen Lakhiani, founder and CEO of Mindvalley, on creating superhumans and shaping the future of personal development

In this interview, Vishen Lakhiani, the CEO and founder of Mindvalley, shares his groundbreaking mission to help individuals unlock their highest potential. Through the Mindvalley platform and its mobile app, Lakhiani is transforming the way people approach personal growth, longevity, and productivity.

From revolutionising education to integrating cutting-edge tools like AI, Lakhiani offers insights into the future of human evolution, blending spirituality with action, and the essential practices that will enable us to thrive in the years ahead.

Vishen, you’ve made quite an impact in the world of personal development. Tell us about your mission.

My mission is to help people become the best version of themselves. Our education systems often limit us by adhering to outdated models. They don’t teach us how to live fully, how to master our minds or our health. That’s what Mindvalley is about — creating human beings who are truly “superhuman”. I want people to live longer, be healthier, more productive, and be able to make a meaningful impact in the world without burning out. At Mindvalley, we aim to be the number one human transformation platform globally.

The Mindvalley app has become such a key tool in this mission. Tell us more about it.

The Mindvalley app is constantly evolving, especially

with the integration of artificial intelligence (AI). You can log into the app and choose how you want to improve your life. Whether it’s increasing your energy, improving your sleep, managing stress, or scaling your business, we’ve got world-class programmes. For example, if you want to scale your business, we have a programme by Miki Agrawal called “Zero to 100”, where she breaks down the steps to think like an unconventional entrepreneur. Or, if you’re focused on longevity, Ben Greenfield’s “Longevity Blueprint” teaches you how to optimise your body for a longer life. Each lesson takes only 20 minutes a day, making it easy to fit into your routine. And just recently, the app was recognised by Apple and is now pre-installed on iPhone 16 and iPads in Apple stores globally. It’s a big milestone for us.

Your collaborations with top teachers are a core part of Mindvalley’s success. Can you tell us more about how you select and work with them?

I have huge respect for teachers, especially because my mother was a teacher, and my own teachers shaped my life in unexpected ways. The greatest impact I’ve had from teachers came not from textbooks but from the wisdom they shared – things like discipline, focus, or how to approach life. That’s where true transformation

“THE MINDVALLEY APP IS CONSTANTLY EVOLVING, ESPECIALLY WITH THE INTEGRATION OF AI. YOU CAN LOG INTO THE APP AND CHOOSE HOW YOU WANT TO IMPROVE YOUR LIFE.”

happens. Most of us stumble upon wisdom by accident — maybe through a mentor or a book that just clicks. But transformation comes when wisdom is deliberately shared by someone who has truly mastered it, someone who can guide you step by step and help you create new beliefs and habits. It’s about expanding your awareness and shifting your identity. Knowledge is everywhere, but transformation is rare. At Mindvalley, we curate transformational teachers, those who can layer new beliefs and habits to guide you to your highest potential.

You recently concluded the Future Human summit in Dubai. Tell us more about it.

Future Human was designed to equip people with the most important skills needed to thrive in 2025. The event covered three key topics: hyperproductivity, longevity, and manifestation. On day one, we focus on hyperproductivity and the brain. In 18 months, 50 per cent of white-collar jobs will be gone due to AI. We’re already seeing rapid changes, like how we’ve integrated AI tools that helped us increase revenue per employee by 40 per cent. But it’s not just about AI; we also dive into cutting-edge molecular compounds, like paraxanthine, a coffee alternative that boosts focus without the jitters.

On day two, we go deep into longevity, with insights on how to add years to your life and optimise your body. For example, we’ll talk about how just one hour of exercise a year can reverse sarcopenia, the muscle loss that comes with aging.

And day three? It’s all about manifestation. It’s no longer some woo-woo concept; it’s about aligning your brain and soul to create the reality you want faster. Attendees will leave with tools to manifest business success, reverse aging, and create their ideal life. It’s a transformational experience.

I’d love to talk about your book, The Buddha and the Badass. How does it speak to both entrepreneurs and regular people?

The Buddha and the Badass is about infusing spirituality with work. It explores how you can be highly productive and still stay connected to your spiritual core. Some people focus only on spirituality

Vishen Lakhiani

and neglect the real world. But if you don’t take action and create something that makes the world better – whether that’s through a job, business, or creative project — then your spiritual practices won’t have the full impact they could. On the other hand, if you’re all about hustle and grind, you risk burnout and poor health. The key is to balance both. You need the productivity of the “badass” and the soul-nourishing energy of the “Buddha.” That’s the ideal Mindvalley archetype.

Longevity and productivity are major themes for you. What practical tips do you have for people who want to live longer and be more productive?

Let’s break it down. First, longevity – the most important factor is having a meditation practice. Not the traditional boring kind, but a science-based practice like my Six-Phase Meditation. It combines compassion, gratitude, forgiveness, vision for the future, and prayer, all backed by science to enhance health and emotional mastery.

Second, high-intensity interval training (HIIT) and strength training are essential. Building muscle, particularly for older adults, is crucial for longevity. Many people, especially women, don’t realise that running on a treadmill or doing aerobics isn’t enough. You need to lift weights to increase your musculature, which correlates directly with a longer life.

Third, a daily learning practice — just 20 minutes a day — keeps you engaged, inspired, and continuously improving. Learning leads to growth, and growth leads to greater mission and purpose, which is key for a long, fulfilling life.

FUTURE HUMAN WAS DESIGNED TO EQUIP PEOPLE WITH THE MOST IMPORTANT SKILLS NEEDED TO THRIVE IN 2025. THE EVENT COVERED THREE KEY TOPICS: LONGEVITY, MANIFESTATION AND HYPERPRODUCTIVITY

Together, these practices – meditation, strength training, and learning — take about 45 minutes a day but have a profound impact on your lifespan and productivity.

With your vision of the future, what would your ideal world look like?

Human beings are incredibly resilient. If you look at Steven Pinker’s

IF YOU LOOK AT STEVEN PINKER’S WORK, YOU’LL SEE THAT OUR WORLD HAS BEEN IMPROVING AT A RAPID PACE, EVEN THOUGH WE TEND TO SUFFER FROM SOMETHING CALLED PROGRESSIVE PHOBIA. IT’S A KIND OF FEAR OF PROGRESS, EVEN WHEN PROGRESS IS LEADING US FORWARD IN SUCH A REMARKABLE WAY.”

work, you’ll see that our world has been improving at a rapid pace, even though we tend to suffer from something called progressive phobia. It’s a kind of fear of progress, even when progress is leading us forward in such a remarkable way.

So, if we were to look ahead — to the year 2030 — what are we likely to see?

I see work hours plummeting. By 2030, we’ll likely be seeing three-day work weeks becoming the norm. That’s going to have a massive impact on the world. For one, we’re going to start moving away from this idea that a country’s success can only be measured by GDP per capita. Of course, people need access to goods and services, but GDP alone is such an outdated metric.

Instead, people will have more time for life outside of work. Time for rest, relaxation, family, creativity — time to meditate, to build, to explore new ideas. Imagine people having time to attend concerts, appreciate music, read, or just play with their kids. That’s going to make a huge difference in how people experience their lives.

We will also see incredible advances in health. People will live longer, healthier lives. In fact, the idea of living over 100 years might become standard. That’s what I call longevity velocity. Essentially, if you can live long enough, you could live to 1,000. That’s not as crazy as it sounds. Science is already making breakthroughs at an astonishing pace that could eradicate diseases like cancer and heart disease. We’re already eradicating diseases like smallpox. So, as science advances, people will live longer, and by the time we hit 2030, we’ll probably see lifespans stretched far beyond what we’ve known.

The third change is abundance. We’ve already started seeing it in small ways. For instance, the cell phone I’m holding right now. Back in 1990, if I wanted the same functions, I would have needed a Walkman, a Handycam, a TV, books, cassettes. Today, it’s all in one device. This kind of innovation

is going to speed up, and we’re going to see even more dematerialisation — more things becoming digital, more access to experiences without physical constraints. What does that lead to? A golden age of humanity. More abundance, less scarcity, less need for conflict. And that’s going to translate to fewer conflicts. If we measure abundance in a new way, we can see a future that’s far more peaceful than we ever thought possible.

But do you think it’s all just optimism, or is there data and science to back it up?

Honestly, it’s not just optimism — it’s data. If you look at the trend lines, you’ll see things moving in the right direction. So, I’m not making empty predictions. I’m talking about trends that are already in motion, and they’re undeniable. Progress is happening — whether we’re ready for it or not.

How do you manage a work-life balance, especially in today’s fast-paced world? Any tips for those struggling with stress? This is such an important question. Work-life balance is a struggle, especially for women, and I’ll explain why. The three practices I mentioned — meditation, strength training, and learning — already help reduce stress by boosting emotional mastery and physical energy. But beyond that, you need to block off time for relaxation.

For example, set a clear bedtime eight hours of sleep is non-negotiable. If you’re working late, make sure you schedule downtime, whether it’s taking a walk, reading, or simply watching TV. For men, downtime might mean alone time, while women often recharge by spending time in community. It’s important to understand what works for you and protect that time. When you allow yourself rest and recovery, you come back to work more energised and productive. L

BY NEESHA SALIAN INTERVIEW

TRANSFORMING EXECUTIVE MINDSETS

In a recent conversation at the Kayan Wellness Festival in Abu Dhabi, worldrenowned therapist and coach Marisa Peer opened up about the common mental blocks executives face and how they can overcome them

World-renowned therapist and founder of Rapid Transformational Therapy (RTT), Marisa Peer, shares how executives can overcome mental blocks, manage stress, and achieve holistic wellbeing. In this interview, Peer discusses the common mindset challenges faced by leaders, the transformative power of RTT, and how events like the Kayan Wellness Festival inspire individuals to embrace wellness not just as a goal, but as a lifestyle.

As a renowned therapist and coach, what mental blocks do you find executives face most frequently, and how can they overcome them? One of the biggest mental blocks I see with executives

is the belief that they’re simply not enough despite all their efforts and past successes. They feel they must constantly prove their worth through endless achievement.

For example, they might think, “If I don’t deliver perfection, I’ll lose respect”. This fear often stems from past experiences or a deeply ingrained need for validation. To overcome this, I encourage people to reframe these thoughts. Start by asking: “What’s the worst that could happen if I let go of perfection?” Then, replace that inner pressure with affirmations such as: “I am

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enough and I am skilled and talented just as I am, and my best is always good enough.”

This is why Rapid Transformational Therapy (RTT) is so effective as it can quickly identify and replace those limiting beliefs that drive us to act in this way - and replace them with new, empowering ones which are going to help you move forward in a way that is much more conducive with good mental health.

What common mindset challenges do busy executives experience, and how can they shift their thinking to improve productivity and overall well-being?

Many executives fall into the trap of believing they must never ask for help as others may perceive it as a sign of weakness — so they take all the responsibility upon themselves, leading to overwhelm and frustration.

I’ve also worked with so many leaders over the years who struggle to delegate because they fear others won’t meet their exacting standards, which, again, leaves them overwhelmed and burnt out.

To shift this mindset, I tell them: “Delegation isn’t weakness — it’s wisdom.” Start small by delegating one task and see the relief it brings. Also, replace thoughts like, “I’m the only one who can handle this,” with “I attract capable, talented people who help me achieve even more”.

Simple tools, like starting the day by prioritising three key goals or ending it by celebrating small wins, can also improve both productivity and happiness.

what advice do you have for executives dealing with burnout often associated with leadership roles?

Burnout happens when you give everything to everyone else and leave nothing for yourself, but you can’t pour from an empty cup.

One CEO I worked with committed to not looking at his phone for the first hour of his day and carved out just 10 minutes each morning to sit quietly with a cup of tea — no emails, no calls, just stillness — and over time, he found himself much calmer, able to handle stress more effectively and be more productive.

Self-care doesn’t have to be a luxury. Take regular breaks throughout your day, even if it’s just a quick walk or a moment of deep breathing.

However, if you are really struggling to switch off or understand your triggers, RTT can help uncover the underlying beliefs that drive burnout, such as the need to always be constantly “switched on”, fears of being judged or failing in some way. Once we understand where those beliefs came from, we then rewire the mind to replace them with healthier ones, which then makes it easier to set boundaries and prioritize your wellbeing.

Marisa Peer

COMMIT TO SMALL THINGS WHICH WILL MAKE A BIG DIFFERENCE IN THE LONG TERM SUCH AS NO WORK EMAILS AFTER 7PM, PHONES NOT BEING ALLOWED AT THE DINNER TABLE, BEING CLEAR WITH YOUR EMPLOYER THAT CONTACT AT THE WEEKEND SHOULD BE FOR EMERGENCIES ONLY.”

In a fast-paced world where decisions are made constantly, how can executives reframe stress into a motivational tool rather than a burden?

Stress isn’t the enemy — it’s your body’s way of preparing you for action. I like to remind people, “Stress means you care, and it shows you’re growing”.

For instance, if you’re about to deliver a big presentation and you feel stressed, reframe it by thinking, “This energy means I’m ready to do something important”.

Practices like deep belly breathing or visualising a positive outcome can help transform stress into excitement.

For example, picture yourself giving a fantastic presentation and the applause you’ll receive. Instead of saying, “I’m so stressed”, try, “I’m energised and ready for this challenge”. That small shift can make all the difference.

What techniques would you recommend for executives who feel constantly “on” but struggle to disconnect and recharge? How can they manage work-life balance without sacrificing personal health or happiness?

It’s essential to set boundaries that protect your time and energy. I call this creating “non-negotiable me-time”.

Commit to small things which will make a big difference in the long term such as no work emails after 7pm, phones not being allowed at the dinner table, being clear with your employer that contact at the weekend should be for emergencies only. These simple changes will give you back your most precious gift — time — and will also improve your relationship with your family.

Another powerful technique is to have a gratitude practice. Before bed, write down three things you’re grateful for that day and three ‘wins’ — no matter how small. This will help shift your focus from work stress to life’s joys.

Finally, remember that balance doesn’t mean equal — it’s about prioritising what matters most in the moment.

Many busy executives experience self-doubt despite their success. What strategies can they use to build self-confidence and maintain a sense of purpose in their leadership roles?

Self-doubt often whispers, “You’re not as good as people think”. But the truth is, your achievements prove otherwise. One strategy is to create a “confidence journal” where you list your successes, big and small.

On tough days, revisit that list — it’s a powerful reminder of what you are capable of. Imposter syndrome is very common but its not based on what others think of you it’s based on your own inner critic which you can learn to silence.

Another tip is to shift your focus outward. Ask yourself, “How is my leadership making a difference?”

One leader I worked with shifted from doubting his abilities to mentoring his team, which reignited his sense of purpose.

Remember, confidence comes not from being perfect but from embracing your imperfections and leading with authenticity.

You recently participated at the Kayan Wellness Festival. Why are such festivals important in this day and age?

The Kayan Wellness Festival is a beautiful reminder that we are whole beings — mind, body, and soul — and each part deserves care and attention.

The Kayan Wellness Festival offered a blend of expert wisdom, interactive workshops, and immersive experiences that truly show how interconnected our mental, physical, and emotional health are.

To me, it represented a space where people can pause, reflect, and reconnect with themselves in a world that often demands so much of us — and where we struggle to switch off.

Events like these are significant because they remind us that wellness isn’t a luxury — it’s a necessity. They create an environment where people can explore transformative practices, gain new insights, and leave feeling inspired to prioritise their wellbeing. L

GLOBAL AMBITIONS

BY NEESHA SALIAN INTERVIEW

involved in the public company, which was listed at over $1bn was challenging, my firsthand experience in scaling a regional startup from scratch helped me realise and understand the challenges that entrepreneurs face – and discover how tough it was. This is what led me to begin angel investing and supporting founders across the region.

Mentoring founders and angel investing further revealed a significant funding gap for startups. This realization drove me to establish Global Ventures, pooling capital to back extraordinary founders building solutions that positively impact millions of lives. Since starting Global Ventures, it has been inspirational to see venture capital evolve from its regional infancy to where it is now.

Congratulations on the launch of your book, Coming of Age. What motivated you to write it?

Noor Sweid, founder and managing partner of Global Ventures, discusses the MENA region’s entrepreneurial growth and the future of innovation

Noor Sweid, founder and managing partner of Global Ventures, has witnessed firsthand the transformation of MENA’s entrepreneurial and investment landscape. From scaling businesses to angel investing and finally launching her own venture capital firm, Sweid’s journey is a testament to the region’s burgeoning innovation. In this interview, she discusses her founding journey, the vision behind Global Ventures, and the excitement surrounding MENA’s emergence as a global tech hub. Sweid also shares her insights into the future of the region’s investment scene, tips for entrepreneurs, and the sectors poised for disruption in the coming years.

Tell us about Global Ventures’ founding journey. What inspired you to start a venture capital firm? I have been fortunate and blessed to have had many experiences in my career — from consulting in the biopharma industry to working in the family business to scale and IPO Depa, to being an entrepreneur myself in establishing ZenYoga, which grew into the largest chain of yoga and Pilates studios in the Middle East before being successfully sold to a private equity firm in 2014. Finally, my experiences gave me the privilege of working in the Dubai Future Foundation, realising the incredible vision for innovation that the leadership has.

Whereas all of these different experiences had steep learning curves, running an IPO and subsequently being

IN 2024, OVER HALF OF VENTURE CAPITAL INVESTMENTS (52 PER CENT) ORIGINATED FROM INTERNATIONAL SOURCES, A SIGNIFICANT SHIFT FROM THE PRIMARILY DOMESTIC FUNDING BASE JUST FIVE YEARS AGO

Thank you. I’m thrilled to share Coming of Age, which explores how technology and entrepreneurship are transforming the MENA region. I believe that there are so many incredible stories of founders across the region, and many of them have yet to be told. In particular, the personal journeys and trials and tribulations are still not shared. Every time I listen to these founders; I am incredibly inspired and moved. So, I felt it would make sense to share these stories with the world as much as possible. The book features the experiences of 35 pioneering regional founders, highlighting their transformative ventures, leapfrogging technologies, and the critical industries they have shaped that address acute market needs, including fintech, healthtech, and agritech and transformative sectors like AI, blockchain, crypto and energy.

What does the book focus on?

The book chronicles MENA’s remarkable entrepreneurial journey, weaving together its history and current status as a global innovation hub. While the coming-of-age stories of emerging markets like China, India, and Brazil have been well-documented, I noticed a lack of similar narratives for MENA, despite its impressive economic growth and entrepreneurial evolution.

Having invested in the region for over 15 years, I’ve witnessed incredible innovations by regional founders who are leveraging technology to drive both regional and global impact. The region’s story needed to be told, not only to celebrate its journey but also to inspire the next generation of entrepreneurs.

What is the most important takeaway from the book?

There are so many, but if I had to choose one, it would be how promising MENA’s future is.

A decade ago, MENA was largely a blank canvas for innovation. Many of the early founders, those I refer to as the ‘Originals’ in the book, faced the solitude of building in uncharted territory. Today, however, that creative isolation has given way to a thriving ecosystem teeming with talent, capital, and opportunity.

The UAE and Saudi Arabia are positioning themselves as global venture capital hubs, attracting international investors while nurturing home-grown startups that promise to make a global impact.

MENA’s cities have evolved into innovation centers, addressing pressing challenges such as financial inclusion, food security, and healthcare access. The region is no longer just a consumer market but a launchpad for ideas that can change the world.

The ‘Originals’ paved the way, and now the next generation of innovators is building on their legacy. As MENA comes of age, the future is ours to imagine, create, and shape. It’s an incredibly exciting time.

Share your insights on the region’s VC and entrepreneurial landscape. How do you see the investment landscape evolving in the GCC, particularly in 2025?

The MENA investment landscape is vibrant and evolving. While regional venture funding dipped in 2024, mirroring global private capital trends, the overall trajectory since 2019 has been upward, with the sector growing from $990m to $2.6bn in just four years, reaching its peak in 2022. In 2024, over half of venture capital investments (52 per cent) originated from international sources, a significant shift from the primarily domestic funding base just five years ago. International investors are drawn to the region’s focus on profitability and capital efficiency. We expect this momentum to continue, fuelled by larger investment rounds, increasing M&A activity, and maturing capital markets. Regional exits, for example, have doubled over the last five years. Government initiatives also play a key role, fostering an innovation-friendly environment. Sovereign wealth funds are increasingly investing directly in regional ecosystems, seeding new possibilities for local founders.

WHAT TIPS DO YOU HAVE FOR ENTREPRENEURS TO SUCCEED?

• Do what you love: Entrepreneurship is demanding, so it’s essential to enjoy what you do.

• Just start: The entrepreneurial journey is rarely linear or predictable. Momentum follows action.

• Solve clear problems: This not only defines your market but also provides clarity on your business and product. Avoid being distracted by the solution and focus on the problem you’re solving.

• Build the right team: Surround yourself with talented, positive people. They will help you reach your goals faster and more effectively.

What has Global Ventures recently invested in?

We recently invested in BioSapien, a patented drug delivery platform treating cancer locally. Its flagship product, MediChip, is a 3D-printed, slow-release delivery system that minimises systemic side effects by concentrating treatment within the tumor microenvironment. This technology improves oncology outcomes and represents a cost-effective innovation with farreaching patient benefits. These are the types of innovations we see coming out of the MENA region, and enabling us to create new technologies and solutions that are applicable around the world.

What is your long-term vision for Global Ventures?

Global Ventures will continue to back emerging-market founders who are creating transformative change. As highlighted in my book, the MENA region has transitioned from being an emerging market to a global innovation powerhouse. It has the perfect blend of youthful energy, cutting-edge technology, and progressive regulatory frameworks to catalyse growth and leapfrog into the future.

Our vision is to remain at the heart of this transformation, inspiring the next generation of entrepreneurs.

These are exciting times for both Global Ventures and the region. L

I AM THRILLED TO SHARE ‘COMING OF AGE’, WHICH EXPLORES HOW TECHNOLOGY AND ENTREPRENEURSHIP ARE TRANSFORMING THE MENA REGION.”

Noor Sweid

BY NEESHA SALIAN INTERVIEW

PICTURE PERFECT

Dr Andreas Kaufmann, chairman of the Supervisory Board at Leica Camera, shares its milestones, as the company celebrates its 100th anniversary, reflecting on how it continues to inspire the next generation of photographers

As Leica Camera marks its centennial anniversary, the brand continues to captivate photographers with a unique balance of tradition and cutting-edge technology.

In this interview with Gulf Business, Dr Andreas Kaufmann, chairman of the Supervisory Board of Leica Camera, shares the brand’s milestones and vision for the future, highlighting its legacy in shaping the art of photography, iconic models and upcoming innovations.

Leica is celebrating an extraordinary 100-year legacy in photography. How would you describe the evolution of Leica, and what do you consider the brand’s most significant contribution to the field?

Leica’s journey began in 1925 when Ernst Leitz II made the pivotal decision to mass-produce Oskar Barnack’s groundbreaking invention, the ‘Ur-Leica’, which led to the Leica I. This compact 35mm camera forever changed visual

Dr Andreas Kaufmann

storytelling by allowing photographers to capture reallife moments with remarkable portability. It made it possible to capture the “decisive moment” in realtime, sparking entirely new forms of photography such as reportage, documentary, street, and artistic photography.

Over the decades, Leica has continued to evolve, with each new model representing a leap in photographic technology and artistry. The Leica M series, starting with the M3 in 1954, became an iconic model, renowned for its rangefinder design, precision, and reliability. It defined photojournalism and street photography, setting the standard for decades.

In more recent years, the Leica SL and Q series have introduced cutting-edge mirrorless technology and advanced digital imaging while maintaining the brand’s core values of craftsmanship and excellence. Each of these models has been disruptive in its own right, pushing the boundaries of photography while preserving Leica’s commitment to quality and precision.

As Leica continues to innovate while maintaining its heritage of craftsmanship, how do you balance tradition with cutting-edge technology, particularly in the rapidly changing landscape of photography and digital imaging?

At Leica, tradition and innovation are not opposing forces but complementary pillars of our philosophy. We honour our heritage of craftsmanship by ensuring every product reflects the meticulous precision and timeless design that Leica is known for. At the same time, we embrace cutting-edge technology to stay ahead in an ever-evolving industry.

This balance is achieved by listening to our community of photographers and understanding their needs. For instance, while the M series continues to offer the tactile experience of a mechanical rangefinder, we’ve integrated advanced digital capabilities into models like the SL and Q series. These cameras feature state-of-the-art sensors, enhanced autofocus systems, and seamless connectivity while maintaining Leica’s signature aesthetics and ergonomics.

OVER THE DECADES, LEICA HAS CONTINUED TO EVOLVE, WITH EACH NEW MODEL REPRESENTING A LEAP IN PHOTOGRAPHIC TECHNOLOGY AND ARTISTRY. THE LEICA M SERIES, STARTING WITH THE M3 IN 1954, BECAME AN ICONIC MODEL, RENOWNED FOR ITS RANGEFINDER DESIGN, PRECISION, AND RELIABILITY.”

Our approach to innovation also extends to sustainability. For example, we’ve optimised production processes to reduce environmental impact while maintaining the durability and longevity of our products. By blending tradition with technology, Leica remains a brand that photographers can trust, whether they are using film or digital formats.

The 100th anniversary celebrations in Dubai were truly special, including the Burj Khalifa projection and an exclusive gala. What does this milestone mean for the company, and why was Dubai chosen as the backdrop for the event?

Celebrating a century of Leica is not just about looking back; it’s about embracing the future of photography. This milestone is a testament to the lasting impact of Leica on the art of image-making and its enduring relevance in a rapidly changing world.

Dubai, with its remarkable blend of tradition and modernity, is the perfect stage for this celebration. The city represents innovation, cultural diversity, and architectural brilliance — all values that resonate with Leica. The Burj Khalifa projection, a symbol of ambition and achievement, aligns with our brand’s legacy of pushing boundaries.

The gala and other celebratory events in Dubai are not just about commemorating 100 years — they are a way to connect with a global

audience, inspire the next generation of photographers, and showcase how Leica continues to innovate while preserving its heritage.

Leica has navigated a century of success. How has your vision shaped Leica’s direction?

My vision for Leica has always been to preserve its essence while enabling it to adapt to the needs of modern photographers.

Leica is not just a brand; it’s a symbol of excellence, a tool for storytelling, and a source of inspiration for artists worldwide.

Over the years, we’ve focused on fostering creativity and building a community that values the power of imagery.

Leica is more than a camera — it’s an experience, a bridge between the photographer and the world they capture.

For the next generation, I hope Leica inspires a deeper appreciation for the art of photography. In a world saturated with digital images, Leica encourages photographers to slow down, focus on meaningful moments, and create images that stand the test of time.

Tell us about the exclusive photography exhibition held at the Foundry from January 22- 26. What inspired this idea?

The exhibition, Light, Lens, Legacy, was a tribute to Leica’s 100-year journey in shaping the art of photography. It honours the brand’s profound contribution to the craft by showcasing 100 iconic images that have not

only documented history but also left an enduring legacy on the global collective memory.

Visitors experienced a thoughtfully curated collection featuring remarkable moments captured by exceptional photographers over the decades. Each photograph highlighted Leica’s role as more than a camera manufacturer — a silent witness to history, enabling creators to immortalise life’s most significant and personal moments.

This exhibition was inspired by Leica’s unwavering dedication to storytelling through photography. For a century, Leica cameras have been trusted by those capturing everything from groundbreaking global events to intimate, everyday narratives.

What new products and innovations can we expect from the brand in 2025? How do you see the future of photography evolving, and what role will it play in the next century of capturing memories?

At Leica, we typically don’t disclose details about products in development. However, in the coming years, you can look forward to seeing beautifully designed products that combine exceptional craftsmanship with highedge technology.

Beyond cameras and optics, we are also exploring exciting innovations in the app and smartphone markets, continuing to expand Leica’s legacy of excellence into new dimensions. L

BOOKS AND BEYOND

HERE ARE GREAT READS ON BIOHACKING YOUR WAY TO WELLBEING, LONGEVITY AND BETTER PERFORMANCE

Biohacking is about more than just optimising physical fitness — it’s a holistic approach to enhancing every aspect of your life, from cognitive performance to longevity. Whether you’re interested in improving your brain function, increasing your energy, or slowing the ageing process, these four books offer science-based strategies that can help you maximise your potential. From diet and exercise to mental health and cutting-edge technologies, each book offers unique insights and practical tips for becoming the best version of yourself. Read on to discover how biohacking can change the way you think, feel and perform.

SUPER HUMAN

BY DAVE ASPREY

Super Human takes biohacking to the next level by exploring how we can age backwards and live longer. This book is filled with strategies from diet and supplements to gene therapy that aim to slow down ageing and extend life expectancy. Asprey digs deep into the science of ageing and provides actionable

tips on how to optimise everything from sleep to the foods we eat to potentially reverse cellular ageing.

One tip that stands out is his focus on “intermittent fasting” for longevity, which encourages the body to repair itself by going without food for periods. While the ideas are bold, the book is grounded in scientific research, making it an exciting read for anyone interested in anti-ageing or longevity. It’s packed with potential life-changing information, although some of the suggestions may feel a bit futuristic.

Key takeaway: Incorporate intermittent fasting into your routine. It’s shown to improve cellular health and boost energy, especially when paired with a clean diet.

THE FOUR-HOUR BODY

BY TIMOTHY FERRISS

The Four-Hour Body is a wild ride through various methods to optimise your body, from rapid fat loss to increasing muscle mass to improving intimacy. Ferriss approaches biohacking with his signature “experiment on yourself” mentality, testing out unconventional methods and reporting back with results.

One of the most impactful tips is his ‘slow carb diet’, which involves eating protein, legumes, and vegetables while cutting out refined carbs. Ferriss’s writing is both entertaining and informative, and his data-driven approach to selfimprovement makes the book a valuable resource for anyone who wants to improve their body in a holistic, practical way. While some methods may seem extreme, Ferriss is honest about what works and what doesn’t.

Key takeaway: Try the slow carb diet to cut out processed foods and focus on lean protein, veggies, and legumes. It’s simple and effective for weight loss and maintaining energy.

BOOKS AND BEYOND

THE GENE: AN INTIMATE HISTORY

BY SIDDHARTHA MUKHERJEE

While not directly a biohacking book, The Gene: An Intimate History is an essential read for anyone interested in understanding the genetic science behind human optimisation. Mukherjee explores how genetics influence our health, behaviour, and even our potential for biohacking. The book offers a deep dive into the history of genetics and the revolutionary science that is unlocking the secrets to controlling ageing, disease, and even enhancing our physical abilities. While it’s a more academic take, the insights into genetics are crucial for anyone serious about understanding the future of biohacking.

Key takeaway: Learn about your genetic predispositions — whether through genetic testing or research — so you

can tailor your biohacking strategies (like diet and exercise) to your unique biology.

LIFESPAN: WHY WE AGE — AND WHY WE DON’T HAVE TO

BY

DAVID A SINCLAIR

Lifespan presents cutting-edge research on ageing, explaining how we might be able to reverse the biological processes that lead to age-related decline. The book delves into the science of longevity, focusing on how factors like DNA repair, gene expression, and cellular health can be manipulated to slow ageing.

One of Sinclair’s key tips is the importance of “NAD+ boosters” (like NMN and resveratrol), which he believes can activate the body’s repair mechanisms and extend life. The book’s scientific depth might be overwhelming for some, but Sinclair’s hopeful message about the future of ageing will inspire those interested in longevity and biohacking.

Key takeaway: Consider taking supplements like NMN or resveratrol, which Sinclair suggests may help extend lifespan by boosting cellular repair. L

STORIES AND PORTRAITS FROM THE PEOPLE WHO SHAPED THE INDUSTRY

Make friends with market trends