IBA Media Release: IBA transformation DETAILED in new corporate plan 

Indigenous Business Australia (IBA) has announced a transformation agenda in its latest corporate plan, setting the stage for a bold reimagining of its strategic priorities and capabilities over the next five years. 

With the refreshed leadership of a new Chairman, several new Board members, and new CEO, Mr David Knights, IBA is set to uplift Indigenous-led economies with a transformation into a value added, specialist capital provider. 

A proud descendent of the Kokoberren peoples, IBA Chairman Mr Darren Godwell said: “This year’s corporate plan pivots IBA to the economic opportunities, leveraging capital markets, and offer direct support to Indigenous economic self-sufficiency. It’s not just about growth—it’s about transformation.” 

The plan emphasises the importance of advancing economic self-sufficiency with First Nations individuals, businesses, and Nations. It focusses on areas of scale and commercial outcomes, ensuring First Nations people benefit from emerging opportunities in: 

• housing 

• clean energy and renewables 

• mining and critical minerals 

• government services 

• agriculture and horticulture, and 

• caring economy. 

IBA’s new legislative powers constitute a transformation. It expands IBA reach to new sources of capital. IBA is working closely with the Minister for Indigenous Australians and Finance Minister to determine the parameters (the ‘Rules’) under which it will be able to exercise these new powers. 

IBA will commence a new function responsible for large transactions and projects that advance the commercial and economic interests of Aboriginal and Torres Strait Islander people. It will increase access for First Nations communities to access finance and major project facilitation services at scale. 

The plan commits to partnering with First Nations organisations, government bodies, and private sector allies to ensure that the transformation is appropriately executed. It will involve connecting more First Nations interests with capital markets to build economic self-sufficiency, and prosperity. The plan actions strategic objectives that boosts business supports, and delivers initiatives announced in the 2025–26 Budget including: 

• a $70.9m lift in IBA’s Home Loan Capital Fund 

• $3.4 million over three years for IBA to establish a place‑based business coaching and mentoring program for First Nations businesswomen and entrepreneurs.
   

“As the Indigenous-led economy grows, the expanded legislative powers position IBA to leverage the private sector and capital markets in innovative ways.” 

You can find IBA’s current and previous plans on its website under Corporate Documents - Indigenous Business Australia. 

Media contact: Katie Hoskins 0427 011 938 or katie.hoskins@iba.gov.au  

About IBA
Economic independence for Aboriginal and Torres Strait Islander people is at the heart of what we do. Our programs support Indigenous Australians to buy their own homes, be successful in business, and invest in commercial ventures that provide strong financial returns. IBA was established under the Aboriginal and Torres Strait Islander Act 2005 (ATSI Act) and is a corporate Commonwealth entity for the purposes of the Public Governance, Performance and Accountability Act 2013 (PGPA Act). IBA resides in the portfolio of the Prime Minister and Cabinet and is accountable to the Australian Parliament through the Minister for Indigenous Australians, Senator the Hon Malarndirri McCarthy.