In March 2019, a group of almost 50 Aboriginal and Torres Strait Islander young people came together from across the country to re-shape the future of business in Australia at the first ever Futures Forum!
Delivered in partnership with Relative Creative, the forum took participants on a design-led journey of bringing cultural principles from the past into the future in a meaningful and sustainable way. Participants workshopped what an Indigenous Business Model should look like, and in the process created a strong network of young people who can take what they learned back to their communities and build on the process.
A representative group of Futures Forum has been formed to lead the group in their next steps. Part of that group will share their insight at our NAIDOC Breakfast event in Canberra on 5 July.
Check out the recap of the forum below.
Yugambeh woman April Atthews bought her first home with IBA after careful saving and shares three of her budgeting tips with you.
If you are thinking of buying a home but want to know more about budgeting and how to take control of your finances, register your interest in having one of our free budgeting workshops in your area.
$312 million in home loans, $52 million in business finance, 7.4% portfolio return to Indigenous co-investors - it's been a busy year and we're super proud of the results and what that means to all our customers!
“IBA is committed to partnering and investing with Aboriginal and Torres Strait Islander people, families, and communities to own their future. We are proud of our achievements during 2017–18 and are striving to build on this momentum in the years ahead.” – Rajiv Viswanathan, CEO, IBA.
"It was a pump your fist in the air moment!" said Alison Page about the Strong Women Strong Business Conference.
Alison and IBA's Stella de Cos talked to Nyunggai Warren Mundine AO on Mundine Means Business about the conference and how important it is to bring together the strength of our Indigenous women in Australia.
The network highlighted the need for a mentoring platform and IBA is soon to deliver on that promise in the coming weeks - stay tuned!
IBA's Jyi Lawton and Rhea Stephenson spoke about Futures Forum on 98.9FM Let’s Talk this week.
The feature had a chat about the launch of the Futures Forum initiative which will be held in five regional locations across Australia from March to July 2019. Targeted at young Aboriginal and Torres Strait Islander people between the age of 18 to 30, each event will be a three-day intensive forum taking you on a journey of bringing cultural principles from the past into the future and establishing long-term innovative ideas around connecting culture, business, technology and futures in meaningful and sustainable ways.
The Wilpena Pound Resort in South Australia’s Ikara Flinders Ranges went from zero to 60% Aboriginal employment over the past five years, creating a substantial investment in the region that promotes job security, prosperity and opportunity.
The Adnyamathanha Traditional Lands Association (ATLA) bought the resort in 2012 through a joint venture with Indigenous Business Australia (IBA). The goal was to create opportunities for local Adnyamathanha employment and business development in the tourism industry, focusing on celebrating and sharing local culture.
Vince Coulthard is a Wilpena Pound Resort Board Member with a deep passion for his traditional lands. His dream was to ensure Aboriginal people had a strong presence at the resort and visitors felt welcome to come on country.
‘We partnered with IBA to acquire this resort for long term sustainability for the Adnyamathanha Yura people and to be the main keeper of this lore place,’ Vince said. ‘Buying the resort is something for the future generations and it’s about building some sort of identity within our region.’
IBA worked with the resort’s management and Traditional Owners to create an Indigenous Engagement Strategy. The plan focussed on developing career pathways and sustainable opportunities for local Adnyamathanha people. This resulted in increased employment and the development of cultural tours, creating a greater sense of ownership and a more authentic Aboriginal experience for guests.
‘Wilpena Pound Resort is a great example of what IBA can do when combining forces with the Traditional Owners of the land. The wealth of knowledge in existence by the Adnyamathanha people can now be shared with guests at the resort, expanding both the tourism experience and overall integrity of all involved,’ said IBA CEO Rajiv Viswanathan.
Vince added, ‘Like our kids say now “This is our place”. And they stand proud and that’s just so awesome, they take ownership.’
‘You can use the country itself and the cultural values to generate income. It’s about recognising out there how best to do that without damaging your cultural values.’
The investment is creating wealth and an ongoing income stream for ATLA, with IBA’s strategy to sell down the equity in the resort to ATLA over time, thereby further increasing Aboriginal ownership of the resort.
‘IBA has given us the opportunity to not only set up a business here but also to put in place a good foundation to keeping our culture strong. They’re a great partner to have.’
IBA teamed up with Indigenous videographer Alison Page to curate a video on the project. Watch the video now.
When Gavin Kelly, a Girudala man from Queensland, came to IBA with Smart Syphon, we knew it was something special. Through hard work and determination, Gavin and his team had created the technology to finally allow cotton farmers the ability to move away from the onerous hand syphon system to an automatic water-irrigation system that can be turned on with the click of a button from anywhere in the world.
'Smart Syphon is a system that allows the farmer to automate his irrigation of cotton, improving the efficiency of water use and reducing the cost,' Gavin said.
Like so many Aboriginal and Torres Strait Islander people all across Australia, getting the much-needed working capital to bring Smart Syphon to life was near impossible, until he engaged with IBA.
'The difference with IBA and a normal bank is that they don't have a prejudice,' Gavin said. 'We could demonstrate that there was a desire for what we were doing and we go their support.'
'If you can back yourself and prove that you can deliver, IBA will support you in where you want to go.'
IBA is thrilled to have been a part of Gavin's journey and to have played a small but vital role in bringing this idea to life.
To find out more about Smart Syphon, please visit https://islex.com.au/smart-syphon.
IBA worked with Indigenous artist Penny Evans to help create a visual brand that better represents our purpose, and most importantly, our customers. Watch the interview with Penny.
IBA's acting CEO Rajiv Viswanathan was interviewed on NITV's The Point this week, discussing IBA's response to the housing affordability crisis affecting Indigenous Australians.
Watch the interview.
Alastair, CEO of ALPA, shares their investor story.
Watch our Investor Story video.