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Indigenous Business Australia (IBA) farewells the significant contributions of our outgoing board directors, including the chairperson, as they finish their terms this week. Their leadership and commitment to IBA led to the achievements of the business and to Aboriginal and Torres Strait Islander people.
The outgoing board directors include Eddie Fry (chairperson), Shirley McPherson, Rick Allert, and Rick Callaghan. Their contributions have been pivotal in shaping the direction of the organisation and empowering Aboriginal and Torres Strait Islander people in achieving economic independence.
Eddie Fry served as chairperson of the IBA Board since 2014. A Dagoman man from the Katherine region in the Northern Territory, Eddie’s leadership has been transformative—not just for IBA, but for Indigenous businesses and communities across Australia. Under his guidance, IBA expanded its reach and impact, helping businesses thrive and communities grow.
IBA’s latest annual report noted success in the financial year with distributions of over $365 million in capital or capability development to Aboriginal and Torres Strait Islander people, support for 2,681 people with an IBA product or the opportunity to access the economy through a job or procurement, and 3,829 people provided with access to networks, knowledge, and capability-building services.
Over ten years since 2014, IBA has grown its total investment portfolio value from $198 million to $576 million, approved $1.951 billion home loans and $456 million in business finance.
Mr Fry highlighted his time as chairperson by saying, “The IBA Board and the IBA family kept striving for excellence in everything we do.”
Shirley McPherson, a Yamatji-Noongar woman, made significant contributions to Indigenous financial and economic development in her 10-year term at IBA. Shirley always came to the table with a dedication and strategic insight to IBA’s growth and impact.
Ms McPherson leaves behind her hopes by saying, “My wish is for our First Nations people to understand that they have an enormous land mass ownership in Australia therefore must develop it to ensure great returns but always maintain in ‘control’ of their country. My second wish for our customers is to always pursue your dreams, never think that you’ll never achieve them, you will.”
Rick Allert AO, has been vital in strengthening IBA’s financial sustainability and its capacity to deliver meaningful outcomes for Indigenous Australians in his 10-year term. His governance expertise and commitment to transparency have played a key role in IBA’s strategic development.
Mr Allert noted about his time at IBA: “The highlight for me has been our home loan lending which has had such a positive impact on Indigenous people...which gives them security and pride, but also a platform for wealth creation.”
Rick Callaghan, a proud Potaruwutj man whose Aboriginal family originate from the Padthaway region South Australia, served as a board director since 2021. Rick has made significant contributions to Indigenous policy and business integration across the country, as well as at IBA.
Mr Callaghan’s highlight of his time at IBA: “Knowing that our strong team has delivered on our charter and increased the gross assets by 71% over the past ten years, and legislation to improve the IBA’s commerciality and sustainability is ready as we leave.”
Acting IBA CEO Leo Bator notes, “The dedication, expertise, and leadership of our outgoing directors have left a lasting legacy at IBA, and we are grateful for all they have done to further the cause of Indigenous economic empowerment. We wish you all the best in your future endeavours and know that your influence will continue to be felt in the years to come.”
More information on the IBA Board can be found at Our board - Indigenous Business Australia or see the PM&C Media Release: New Indigenous Business Australia Board Members appointed - Indigenous Business Australia on the announcement of the new appointments.
Media contact: Tara Toohill 02 9207 6362 or tara.toohill@iba.gov.au
