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Indigenous Business Australia (IBA) set out a clear path to deliver financial inclusion and economic empowerment with Aboriginal and Torres Strait Islander people. At the recent IBA Board Meeting, the Board reviewed the performance and strategy, and confirmed that the goals set in place a year ago in the Strategy Towards 2028 are well on track. 
In the financial year to 30 June 2024, IBA delivered significant achievements to our PBS targets including providing access to capability building, knowledge and networks to 3829 individuals (Measure 1); distributed capital and capability development support in the sum of $365 million (Measure 3); and delivering a comprehensive impact study (Measure 5).
The breakdown of the financial commitment of $365 million includes $227 million approved home loans, $73 million approved business finance, $53 million co-investment contribution and capital distributed by IBA, $2 million external business support, $9 million Aboriginal and Torres Strait Islander procurement, and $676k partnerships with Aboriginal and Torres Strait Islander organisations.
Progress towards our goals include launching an Environmental Social and Governance Strategy (ESG) later this year that incorporates Aboriginal and Torres Strait Islander interests at the core of the program and reporting on the latest impact research focussing on financial wellbeing.
IBA Chairperson Eddie Fry, a Dagoman man comments about the performance to date and a strategy focussed on Indigenous prosperity.
"Our Strategy Towards 2028 is a testament to our unwavering commitment to enhancing the financial wellbeing of Aboriginal and Torres Strait Islander communities, ensuring we thrive for generations to come."
“From assisting families to buy their first home, to supporting businesses to grow and secure contracts worth millions of dollars, our activities have a significant positive impact on the lives of many.
"The strategy is a roadmap for growth and empowerment, but it’s the performance to date that demonstrates our commitment to deliver on that goal – a collective dedication to drive meaningful change for the economic aspirations of Aboriginal and Torres Strait Islander people.
“I am deeply proud of IBA’s commitment to supporting our people in achieving financial independence and lasting outcomes for the communities we serve and look forward to more good things to come – particularly working with the new Minister for Indigenous Australians, Senator the Hon Malarndirri McCarthy, and developing the commitments the Prime Minister announced at Garma about boosting the investment, borrowing and lending power of IBA.”
More details of end of year performance to be shared in IBA’s upcoming annual report.
For more information on IBA’s strategy, please see IBA Corporate Plan - Strategy Towards 2028.
Media contact: Tara Toohill 02 9207 6362 or tara.toohill@iba.gov.au
