our history

IBA is arguably one of the longest standing and most successful Indigenous specific commercial organisations in Australia's history.

Originally known as the Aboriginal and Torres Strait Islander Commercial Development Corporation, our history dates back to the various starts of our current portfolio of home ownership, business financing, investment and asset management, and partnerships.

The dates below show change over the years, but our purpose has always remained clear – to promote and encourage Aboriginal and Torres Strait Islander self-management and economic self-sufficiency.

IBA’s key historical milestones include:

• 1968: The Indigenous Business Development Program was established (through the Commonwealth Capital Fund for Aboriginal Enterprises).
• 1975: The Indigenous Home Ownership Program was established (under the Aboriginal Loans Commission).
• 1988: After the idea to create the Aboriginal and Torres Strait Islander Commission (ATSIC) was first put to Australian Parliament in 1987, the legislation was introduced to enact ATSIC, including a second reading speech (Hand 1988) that noted:

“The legislation provides for the establishment of a statutory corporation, under the control of Aboriginal and Torres Strait Islander people, with a broad charter to engage in commercial and financial activities.”

• 1989: The proclamation of the Aboriginal and Torres Strait Islander Commission (ATSIC) Act 1989 was announced.

• 1990: Under ATSIC, the Aboriginal and Torres Strait Islander Commercial Development Corporation (CDC) was created, which established the Investments program.

• 2001: The ATSIC Act was amended to rename CDC to ‘Indigenous Business Australia’ and gave the accountable minister the option of appointing a full-time chairperson. The second reading speech noted:

'The bill reflects the government’s commitment to increasing opportunities for Indigenous Australians to participate in commercial development. Participation in business enables more Indigenous Australians to escape the cycle of welfare dependency and provides opportunities for employment and the creation of wealth and capital to generate further economic development opportunities.

The bill is a significant step towards improving Indigenous participation in viable businesses, and is part of the government’s ongoing commitment to assist Indigenous Australians achieve economic independence.'

• 2005: The Aboriginal and Torres Strait Islander Amendment Act 2005 was introduced to abolish ATSIC and rename the ATSIC Act to Aboriginal and Torres Strait Islander (ATSI) Act 2005. The ATSI Act sets out our purpose, powers, functions, administrative and operational arrangements, including our current three core programs (housing, business, and investments).

• 2025: An amendment to the Aboriginal and Torres Strait Islander Act 2005 was passed to enhance IBA’s ability to leverage capital, supporting more Aboriginal and Torres Strait Islander people in achieving home ownership, business enterprise and community investment. 

As of 2025:

• our home ownership program has supported more than 22,000 families into home ownership and approved over $4 billion in home loans
• we actively monitor $151 million of the business loan portfolio
• we manage over $278 million in equity as part of our investments program.

All achievements that empower prosperity, wellbeing, and intergenerational impact.

Our achievements are a testimony to the strength, resilience and ingenuity of First Nations people. We recognise the generous contributions Aboriginal and Torres Strait Islander communities make to Australia’s modern economy despite the history of dispossession, discrimination and socioeconomic exclusion they endure.