Gobhanu Korisepati founded a microfinance group at ABA Oman International School, which continues to ‘inspire and change the world one woman at a time’

Muscat – ABA Oman International School alumnus Gobhanu Korisepati, 19, received the Legacy Award set up in memory of Diana, the late Princess of Wales, from her elder son William, Prince of Wales, in London on Thursday. The award is in recognition of impactful contributions to global microfinance and community empowerment through Sustaining Women in Financial Turmoil (SWIFTmfi), which Gobhanu founded in 2019.

Presented every two years, the Legacy Award celebrates the achievements of 20 outstanding young leaders, visionaries and role models from across the world, who have demonstrated an ability to inspire and mobilise new generations to service their communities. Winners of the Legacy Award are chosen from recipients of The Diana Award presented annually. The Legacy Award was instituted in 2017 to celebrate the late princess’s legacy in her 20th death anniversary year.

Having graduated from ABA earlier this year, Gobhanu is currently pursuing the Huntsman Program in International Studies and Business at University of Pennsylvania in Philadelphia, USA. It includes a BA in International Studies, with a focus on Arabic, and a BSc in Economics from Wharton Business School. “This diverse educational background is instrumental in managing and expanding SWIFT’s global initiatives,” he explained.

As global CEO and chairman of the Board of Directors, Gobhanu oversees all operations and school chapters of SWIFT. “My role involves strategic planning, ensuring the alignment of our international initiatives with our mission, and leading our team towards achieving our objectives of supporting sustainable businesses and promoting financial independence among underserved populations.”

Where it all began

At ABA, where it all started, a dedicated team of student volunteers continues to be engaged in local fundraisers and other initiatives to ‘inspire and change the world one woman at a time’.

The team at ABA is currently working towards extending SWIFT’s lending initiatives directly to Omani women and helping them secure funds from Kiva, a non-profit organisation headquartered in San Francisco, USA. “Although this is still in progress, we are committed to making this opportunity available to them as part of our efforts to empower women and support sustainable development in Oman,” Gobhanu informed.

Money raised by the SWIFT team at ABA is lent to women interest-free. The funds are dispensed through Kiva, which allows people to lend money via the Internet to low-income entrepreneurs and students in close to 80 countries. By crowdfunding loans, Kiva extends financial support to those with no access to banking services. When the loan is paid back, it is used to support other women.

Gobhanu first came across Kiva during a geography class project in Grade 8, which piqued his interest in microfinance. Following the foundation of SWIFT, Gobhanu interned at Nobel laureate Muhammad Yunus’s Grameen Bank in Bangladesh. Over three months, he saw how one of the world’s largest microfinance institutions helped make banking for the poor more accessible, following which he was keen to bring the concept to Oman.

Local support

“SWIFT has received approval from the Oman government to approach sponsors while operating in ABA. This has allowed us to partner with local sponsors such as NBO and MHD, among others, enhancing our capacity to support our initiatives and expand our impact,” Gobhanu said.

In 2022, his efforts with SWIFT won him The Diana Award, which was introduced in Oman by H H Sayyida Basma al Said, founder of Whispers of Serenity Clinic and one of the judges of the award. The same year, Gobhanu won the United Nations V-Awards, which recognise young volunteers making impactful contributions to social and developmental challenges.

The Legacy Award will “significantly boost SWIFT’s efforts by providing recognition and additional resources,” Gobhanu said. “The award signifies recognition of my team’s hard work and our shared goal to eliminate financial disparities based on gender across the world.”

Moving forward, his plans for SWIFT include expanding its global presence, enhancing its programmes, and leveraging technology to reach and empower more individuals. “We aim to continue building partnerships, securing additional resources, and innovating our approaches to microfinance and education. Our goal is to create a more inclusive and sustainable future for all.”

Gobhanu and other winners of this year’s Legacy Award were congratulated online by the late princess’s younger son Prince Harry, Duke of Sussex.

“My mum would be extremely proud of the work you are doing… Thank you very much for inspiring so many others and at the same time thank you for protecting my mother’s legacy,” Prince Harry told the winners.

This year’s recipients are from the UK, the USA, Nigeria, India, Bangladesh, Pakistan, Indonesia, the UAE, Romania, Jamaica, Cayman Islands and Australia, besides Oman.

The award also gives Gobhanu access to bespoke personal and professional development support to enhance his social action work with the long-term aim of inspiring and mobilising other young people to engage in social action.