This year, Chris Shaw called on his expertise in the incentives and loyalty sector to launch the automated cashback app mimojo with two former colleagues.
It enables dining, retail and other merchants to modify discount offers according to commercial needs, while customers subscribe to receive upon-payment redemptions and monthly cashback.
The British father-of-three began his Dubai career 23 years ago in publishing before joining leisure savings platform The Entertainer, becoming general manager in 2014.
Now aged 47, Mr Shaw has also been a consultant to an outdoor media business and managing director of a marketplace that enabled members to trade excess goods.
He lives at The Villa with his wife and daughters, 15 and 12.
Was there wealth around your childhood?
My dad was in the rubber industry and set up tyre distribution networks across the Middle East. Mum worked originally as a medical secretary and then supported my dad, doing secretarial duties.
We lived in a mixture of apartments and villas surrounded by wasteland, a child’s paradise looking for lizards and scorpions … stuff you didn’t need money for. Unless you got stung.
We were never flashy, we had enough to get by. I remember wanting Converse boots … and being given something that resembled the brand but didn’t have the logo. That was the attitude to branded goods, to keep us grounded.
We were in Jordan for five years before my dad moved to Saudi and I was sent to a UK boarding school, aged nine.
Did you have a budget there?
Money was never front of mind at that age, but I was fairly entrepreneurial and would sneak out of prep school to the 24-hour garage – my record was selling a can of 7Up for £2.45 ($3.11), which I probably picked up for 15 pence.
When I was 13, I got about £10 a term allowance that was kept with the housemaster. You could queue outside his office and take it to the tuck shop.
How did you first earn?
Holiday jobs, washing up in restaurants from the age of 14, bar work, waiting, for about £4 an hour.
Also, I butt-marked (at a shooting club), so used to stand underneath targets, pull them down when a marksman had a shot, and score it. Bullets would fly over our heads.
In my GCSE summer, at 16, I laboured on a building site earning £235 a week.
Why mimojo?
Discount is firmly ingrained in this part of the world. It’s a hugely competitive marketplace.
We’re marrying existing technology that belongs to credit card schemes – card-linked services – with merchant appetite or ability to give discounts.
You tap your card and everything happens in the background.
We wanted something that gave merchants a choice. For the consumer, we have a Dh10-a-month subscription, so if you’re away for summer, you can pause.
It’s a much fairer ecosystem. Using the payment mechanism as the discount or cashback trigger is a complete evolution. You will never miss a savings opportunity and it’s discreet.
What is your spending vs saving strategy?
I’m foremost a saver, probably a bit selfish with my money. I’ll make a big deal about turning off lights and AC and make sure leftovers have been eaten. Then we’ll go out and won’t think twice about picking up the bill.
Save where you can and it gives that bit of freedom when you can choose what to spend on.
Property is where I spend most of our money, in Dubai and the UK. Also exchange-traded funds, equities and bonds. A little “chance money” into crypto, to see if I can catch a wave.
What is your best investment?
Supporting my wife’s two start-ups. Her first, in 2004 with her sister, evolved into a very successful communications agency, which they sold.
Then she set up a corporate culture consultancy. It’s doing very well.
Save where you can and it gives that bit of freedom when you can make a choice what to spend on
Chris Shaw,
co-founder, mimojo
Any financial revelations?
The penny drop of compound interest has enabled a refocus. I set up ETFs for my children. We make them put in 10 per cent of their allowance every month.
Have you grown wiser with cash?
Being young, one of the shaping attitudes was: “If you take care of the pennies, the pounds take care of themselves.”
I remember that being said in my grandmother’s kitchen. I would always find pennies where I’d be playing. I later realised they were dropping these for me to find, reinforcing that message.
How about cherished expenditure?
We did a garden refurbishment and put in an outdoor fireplace. It’s a lovely place to decompress.
When my dad turned 70, my siblings and I bought him a flight in a Spitfire. Latterly he worked in military aviation, so for him to be up in a piece of history was amazing.
How do you feel about money?
I don’t have positive emotions around money. It makes me feel a bit uneasy and unsettled.
I’m always looking over my shoulder, so to speak, one eye on whether I have enough.
I’ve always been that way, had that reluctance to spend and look at monthly spreadsheets. It’s not a positive association.
Can it generate happiness?
It can buy things that may make you happy. But I’m not sure it’s directly linked to happiness.
There are many things that are free that make you happy; walking on the beach, sunsets, sunrises. You don’t need money to be happy.
Any financial hiccups?
One of my worst was buying our first villa, in August 2008 (before the crash). We didn’t pay anything until we took ownership, which was delayed, and didn’t move in until 2011.
We had two children then, so it provided for us at the time, but when we sold, we lost a lot of money. We tried to run it as an investment but were always just behind the curve.
However, we enjoyed the area so much we bought again and the market dynamics were slightly different so we got more bang for our buck.
Conversely, that would be one of the best investments, the price paid to the current value. Timing is the lesson there, so I can’t regret it.
What about weak financial moments?
I bought a piece of art last year, not for a ridiculous amount of money, but I spent more than I should.
I was convinced by my colleague it was a good idea; probably a little foolish, but I love it and that’s what art’s for. If you appreciate it, that’s valuable.
What are you happiest spending on?
I’m not particularly into luxury, but I social spend, because I get genuine enjoyment.
I’d like to spend on a share in a racehorse again. It’s absolutely the wrong thing to do with your money if you want to make money.
I enjoyed spending on European Christmas breaks with my wife until Covid kicked in.
What are your goals?
We never had a plan until Covid. Because we were locked up in a house together, we had to talk about things. It was like: “Let’s start working towards something.”
That goal is France, in our 50s, to enjoy it before we’re too old.
Cash or credit card?
I have to use credit cards … so I earn my mimojo cashback.
UAE currency: the story behind the money in your pockets
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
THE SPECS – Honda CR-V Touring AWD
Engine: 2.4-litre 4-cylinder
Power: 184hp at 6,400rpm
Torque: 244Nm at 3,900rpm
Transmission: Continuously Variable Transmission (CVT)
0-100kmh in 9.4 seconds
Top speed: 202kmh
Fuel consumption: 6.8L/100km
Price: From Dh122,900
In Full Flight: A Story of Africa and Atonement
John Heminway, Knopff
Champions parade (UAE timings)
7pm Gates open
8pm Deansgate stage showing starts
9pm Parade starts at Manchester Cathedral
9.45pm Parade ends at Peter Street
10pm City players on stage
11pm event ends
In The Heights
Directed by: Jon M. Chu
Stars: Anthony Ramos, Lin-Manual Miranda
Rating: ****
Killing of Qassem Suleimani
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
Arabian Gulf Cup FINAL
Al Nasr 2
(Negredo 1, Tozo 50)
Shabab Al Ahli 1
(Jaber 13)
Sleep Well Beast
The National
4AD
Draw
Quarter-finals
Real Madrid (ESP) or Manchester City (ENG) v Juventus (ITA) or Lyon (FRA)
RB Leipzig (GER) v Atletico Madrid (ESP)
Barcelona (ESP) or Napoli (ITA) v Bayern Munich (GER) or Chelsea (ENG)
Atalanta (ITA) v Paris Saint-Germain (FRA)
Ties to be played August 12-15 in Lisbon
Essentials
The flights: You can fly from the UAE to Iceland with one stop in Europe with a variety of airlines. Return flights with Emirates from Dubai to Stockholm, then Icelandair to Reykjavik, cost from Dh4,153 return. The whole trip takes 11 hours. British Airways flies from Abu Dhabi and Dubai to Reykjavik, via London, with return flights taking 12 hours and costing from Dh2,490 return, including taxes.
The activities: A half-day Silfra snorkelling trip costs 14,990 Icelandic kronur (Dh544) with Dive.is. Inside the Volcano also takes half a day and costs 42,000 kronur (Dh1,524). The Jokulsarlon small-boat cruise lasts about an hour and costs 9,800 kronur (Dh356). Into the Glacier costs 19,500 kronur (Dh708). It lasts three to four hours.
The tours: It’s often better to book a tailor-made trip through a specialist operator. UK-based Discover the World offers seven nights, self-driving, across the island from £892 (Dh4,505) per person. This includes three nights’ accommodation at Hotel Husafell near Into the Glacier, two nights at Hotel Ranga and two nights at the Icelandair Hotel Klaustur. It includes car rental, plus an iPad with itinerary and tourist information pre-loaded onto it, while activities can be booked as optional extras. More information inspiredbyiceland.com
Common OCD symptoms and how they manifest
Checking: the obsession or thoughts focus on some harm coming from things not being as they should, which usually centre around the theme of safety. For example, the obsession is “the building will burn down”, therefore the compulsion is checking that the oven is switched off.
Contamination: the obsession is focused on the presence of germs, dirt or harmful bacteria and how this will impact the person and/or their loved ones. For example, the obsession is “the floor is dirty; me and my family will get sick and die”, the compulsion is repetitive cleaning.
Orderliness: the obsession is a fear of sitting with uncomfortable feelings, or to prevent harm coming to oneself or others. Objectively there appears to be no logical link between the obsession and compulsion. For example,” I won’t feel right if the jars aren’t lined up” or “harm will come to my family if I don’t line up all the jars”, so the compulsion is therefore lining up the jars.
Intrusive thoughts: the intrusive thought is usually highly distressing and repetitive. Common examples may include thoughts of perpetrating violence towards others, harming others, or questions over one’s character or deeds, usually in conflict with the person’s true values. An example would be: “I think I might hurt my family”, which in turn leads to the compulsion of avoiding social gatherings.
Hoarding: the intrusive thought is the overvaluing of objects or possessions, while the compulsion is stashing or hoarding these items and refusing to let them go. For example, “this newspaper may come in useful one day”, therefore, the compulsion is hoarding newspapers instead of discarding them the next day.
Source: Dr Robert Chandler, clinical psychologist at Lighthouse Arabia
How the bonus system works
The two riders are among several riders in the UAE to receive the top payment of £10,000 under the Thank You Fund of £16 million (Dh80m), which was announced in conjunction with Deliveroo's £8 billion (Dh40bn) stock market listing earlier this year.
The £10,000 (Dh50,000) payment is made to those riders who have completed the highest number of orders in each market.
There are also riders who will receive payments of £1,000 (Dh5,000) and £500 (Dh2,500).
All riders who have worked with Deliveroo for at least one year and completed 2,000 orders will receive £200 (Dh1,000), the company said when it announced the scheme.
How to apply for a drone permit
- Individuals must register on UAE Drone app or website using their UAE Pass
- Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
- Upload the training certificate from a centre accredited by the GCAA
- Submit their request
What are the regulations?
- Fly it within visual line of sight
- Never over populated areas
- Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
- Users must avoid flying over restricted areas listed on the UAE Drone app
- Only fly the drone during the day, and never at night
- Should have a live feed of the drone flight
- Drones must weigh 5 kg or less
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Global state-owned investor ranking by size
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United States
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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South Korea
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The specs: Lamborghini Aventador SVJ
Price, base: Dh1,731,672
Engine: 6.5-litre V12
Gearbox: Seven-speed automatic
Power: 770hp @ 8,500rpm
Torque: 720Nm @ 6,750rpm
Fuel economy: 19.6L / 100km
Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
