Indigenous Business Australia (IBA) is proud to announce the appointment of Dr Doug McTaggart FAICD and Mr Brian Bero to its Board of Directors.
Dr Doug McTaggart's extensive experience and distinguished career in economics, finance, and governance will significantly enhance IBA's strategic direction and commitment to economic empowerment for Aboriginal and Torres Strait Islander people.
Dr McTaggart holds a PhD in Economics from the University of Chicago and has held prominent roles across academia, public service, and the corporate sector. His tenure as CEO of the Queensland Investment Corporation saw the organisation achieve remarkable growth and diversification. Dr McTaggart's leadership was instrumental in navigating complex economic landscapes and driving sustainable financial performance.
In addition to his executive experience, Dr McTaggart has served on numerous boards, including the Suncorp Group, Spark Infrastructure, and the QIMR Berghofer Institute of Medical Research. His deep understanding of economic principles, coupled with his strategic vision, positions him as a valuable asset to the IBA Board.
Meriam man Brian Bero joins Dr McTaggart on appointment to IBA. Mr Bero brings his commercial and corporate legal knowledge along with his community experience to a strong majority Indigenous board. Brian is a co-founder and Principal Lawyer of Jaramer Legal, a national Indigenous owned commercial and corporate law firm. He has worked as a lawyer for government, large corporations and big law firms, and continues to advise all levels of government, corporations, and Indigenous organisations in his current capacity at Jaramer Legal. He has specific experience in the clean energy, telecommunications and information technology industries as well as general commercial law.
Mr Bero is passionate about Indigenous self-empowerment and socially responsible economic development for Aboriginal and Torres Strait Islander people. He is currently a director on the Boards of Aboriginal Community Housing Ltd, Ilbijerri Theatre Company and Original Power. Mr Bero is also a member of the First Nations Clean Energy Network, Panel Advisory member for the Australian Renewable Energy Agency (ARENA), and Panel Advisory member for the First Nations Trade Unit under DFAT.
The Australian Senate recently passed a historic change to IBA’s legislation, Aboriginal and Torres Strait Islander Act 2005, which allows IBA to expand its lending and finance opportunities to Aboriginal and Torres Strait Islander people to meet growing demand. Dr McTaggart worked as part of IBA’s Expert Panel for this significant change and has also been a board member of IBA Asset Management Pty Ltd, demonstrating his expertise in the agency’s growing investment space.
IBA Chairperson, Darren Godwell, comments on the new appointment and skills it brings to the IBA Board.
"We are delighted to welcome Dr Doug McTaggart and Mr Brian Bero to the IBA Board of Directors. Their profound expertise in economics and governance, along with their commitment to fostering economic opportunities for First Nations Australians, will be invaluable as we continue to support Indigenous businesses and communities."
Minister for Indigenous Australians, Senator Malarndirri McCarthy congratulated the appointees and looks forward to working with them to advance the economic empowerment of First Nations people.
“I am confident that this new-look board will help deliver the Albanese Government’s drive for greater economic empowerment for First Nations people.
“Collectively this board balances a wealth of expertise with fresh perspectives. The experience of the Board will be beneficial to IBA as it enacts the recent expansion of its role and remit.”
Dr McTaggart’s and Mr Bero’s appointments coincide with the strong community focus on the reappointment of Director Josh Gilbert, and escalation of Olga Havnen to Deputy Chairperson.
Media contact: Tara Toohill 02 9207 6362 or tara.toohill@iba.gov.au
Reproduced from Minister for Indigenous Australians media centre, released 27 March 2025.
The Albanese Government has appointed two new directors to the Board of Indigenous Business Australia (IBA).
Mr Brian Bero and Dr Doug McTaggart both bring extensive experience to their new roles.
Mr Bero is a Meriam (Torres Strait Islander) man. He is a Co-founder, Principal and Director of Jaramer Legal and has worked as a lawyer with the Victorian Government Solicitor’s Office, Gilbert + Tobin, and several large corporations such as Qantas, Telstra and Oracle.
Dr McTaggart has extensive government and private board experience, and is currently Chair of Indigenous Business Australia Asset Management.
Ms Olga Havnen – a Western Arrernte woman who joined the IBA Board in December 2024 – has been appointed Deputy Chairperson, and Mr Joshua Gilbert, a Worimi man, has been reappointed as Director.
IBA plays a critical role in advancing the economic independence of First Nations people through expert business advice, home loans, tailored finance solutions and investment initiatives that empower individuals and businesses.
Quotes attributable to Minister for Indigenous Australians, Senator Malarndirri McCarthy:
“I congratulate Mr Bero, Dr McTaggart, Ms Havnen and Mr Gilbert on their appointments and I look forward to working with them to advance the economic empowerment of First Nations people.
“I am confident that this new-look board will help deliver the Albanese Government’s drive for greater economic empowerment for First Nations people.
“Collectively this board balances a wealth of expertise with fresh perspectives. The experience of the Board will be beneficial to IBA as it enacts the recent expansion of its role and remit.”
Has your home or business been impacted by the recent floods and damaging winds associated with Cyclone Alfred?
If you have an IBA home loan or business finance product and have been impacted by this weather event, we want to reassure you and your family that IBA is here in times of need.
Customers impacted by the recent natural disaster can apply for an emergency natural disaster relief grant – $5,000 for IBA business finance customers and/or $2,000 for IBA home loan customers.
Impacted customers will receive a direct link to apply. Applications accepted until midnight 11 April 2025, or until funds are exhausted (whichever comes first).
Additional information and resource links are below:
Indigenous Business Australia (IBA) and the Australian International Documentary Conference (AIDC) are excited to announce the winners of the inaugural Indigenous Creators Pitch announced last night in Melbourne at the AIDC Awards ceremony.
An initiative of AIDC’s Indigenous Creators Program, the Indigenous Creators Pitch provides Aboriginal and Torres Strait Islander filmmakers with the opportunity to pitch a project in development to a closed room of local and international buyers looking to support Indigenous-led nonfiction stories.
Selected by an independent panel of industry experts, the winning project was set to receive a $5,000 cash prize presented by AIDC to help bring their story to screen. An anonymous donor doubled the prize amount on the day of the AIDC Awards, making a prize pool of $10,000 available. The prize was shared between three projects:
CRYSTAL LOVE – $5,000
Pitch Team: Libby Collins and Genevieve Grieves
Logline: Crystal Love is a powerhouse, thriving in the face of everything life has thrown at her.
HUNTING TIDDA STYLE – $2,500
Pitch Team: Kate ten Buuren, Kimberley Benjamin and Jodie Bell
Logline: Emily Wurramara travels across so-called Australia to meet some of the country’s deadliest Blak women hunters, to learn their ways of hunting, fishing and cooking up a feed!
ABOLISHED – $2,500
Pitch Team: Daniel King and Jen Mellander
Logline: This documentary investigates the abolishment of all the Indigenous representative bodies since 1967, uncovering what this pattern reveals about the Australian government’s relationship with Indigenous people.
A fourth project in the Indigenous Creators Pitch – Marliya, pitched by Shontell Ketchell, Stephen Page and Ewan Cutler, about a First Nations youth choir – received $20,000 in development funding as part of AIDC’s Shark Island Foundation Feature Docs Pitch.
The Indigenous Creators Program and Pitch are part of IBA's ongoing commitment to empowering First Nations voices.
IBA’s Producer Offset Loan, a financial solution designed to support Aboriginal and Torres Strait Islander filmmakers, provides Indigenous-owned production companies with the necessary funds to finance eligible Australian documentary, film, or television projects. It complements investments from Screen Australia, state government film-funding agencies, or broadcasters.
AIDC 2025’s Indigenous Creators Program and Indigenous Creators Pitch are both supported by IBA, marking the organisation’s debut involvement in AIDC.
IBA Deputy CEO Sean Armistead said IBA was proud to support the initiative, saying it provides a vital platform for amplifying Aboriginal and Torres Strait Islander voices in the documentary sector.
“This initiative is about creating real opportunities for First Nations documentary makers to bring their unique and powerful stories to market.
“The breadth and depth of talent among the selected projects is inspiring, and we’re proud to support these creators in their journey to connect with decision-makers and bring their stories to audiences worldwide.”
AIDC CEO/Creative Director Natasha Gadd noted that the Indigenous Creators Pitch had been long-planned but needed the right partner to bring it to fruition.
“This Indigenous Creators Pitch has been years in the making but it's only with the support of Indigenous Business Australia for this year’s indigenous Creators Program, that we have finally been able to create a dedicated pitch for Aboriginal and Torres Strait Islander storytellers.
“The Indigenous Creators Program is designed by and for First Nations practitioners and, now in its seventh year, we are thrilled to be able to include a marketplace pitch for filmmakers to pitch new projects to buyers seeking Indigenous-authored stories.
“The unique vision, styles and stories of all the projects have impressed AIDC and our decision makers beyond measure. We thank Indigenous Business Australia and congratulate all the teams. We hope to be able to do this again for years to come."
For more information about the Indigenous Creators Program and the winner of the Indigenous Creators Pitch, visit aidc.com.au. To find out more about IBA’s Producer Offset Loan Solution, visit iba.gov.au.
Media contact: Tara Toohill 02 9207 6362 or tara.toohill@iba.gov.au
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Read the newsletter here and read stories of our wonderful customers, along with IBA and community news.
Did you know it's been 50 years since the Indigenous Home Ownership program was established? This year we’re honouring those foundations and commemorating the impact that our programs support. 
We reflect on this milestone that honours the resilience, wisdom, and courage of past generations while celebrating the innovation and passion of the present. It reminds us that every success achieved today is a testament to those who came before, and a stepping stone for those who will come after.
Our theme, “50 Years: Through the Generations”, reflects this journey of our organisation, as well as, and most importantly, the successes of our customers and their families and communities.
IBA’s 50th emblem embodies connection, progress and community. The 5 and 0 are formed from the elements of the IBA brand (inspired by the work of Gamilaraay/Gomeroi artist Penny Evans) and feature the shapes within the IBA logo. These lines and circles signify the pathways and the milestones accomplished alongside our customers.
We've been junk journalling! Check out this fun video reel we put together reflecting on a some highlights.
Indigenous Business Australia (IBA) is delighted to welcome the historic passing of the legislative amendment to the Aboriginal and Torres Strait Islander Act 2005 (Act) to enhance IBA’s ability to leverage capital, supporting more Aboriginal and Torres Strait Islander people in achieving their dreams of home ownership, business enterprise and community investment.
This amendment aligns with the Government’s indications that IBA should have an expanded remit and role in delivering economic independence for First Nations people in Australia.
Previously, Section 184 of the Act restricted IBA from borrowing or raising capital. The amendment removes this barrier, providing IBA with the flexibility to explore new opportunities, and expand the range of financial products it can offer to meet market needs.
A Kokoberren man from north Queensland and the IBA Chair, Darren Godwell, highlights the importance of this change in furthering IBA’s mission.
“We continually seek new pathways to grow our impact. This is particularly meaningful this year as we celebrate 50 years through the generations. Our home ownership program commenced in 1975 and to date we’ve supported more than 22,000 families into home ownership – an achievement that empowers prosperity, wellbeing and intergenerational impact.
“Expansion for further investment and business opportunities, as well as our largest, long-standing program of home ownership, means more success for Aboriginal and Torres Strait Islander people.
“As demand for our services continues to grow, this amendment will help us to achieve our vision for Australia’s First Nations people to achieve economic independence – a right we fully deserve.”
As the Treasurer of Australia, the Hon Dr Jim Chalmers PM, noted in November 2024, the amendment “is part of the Albanese Government’s push for greater economic empowerment for First Nations people – and delivers on a key commitment made by the Prime Minister at the Garma Festival (2024)."
The IBA Chair acknowledges the incredible support from multiple groups to get to where we are today, including the Minister for Indigenous Australians, Senator the Hon Malarndirri McCarthy, the Expert Panel (which included Mr Rick Allert AO, Ms Rosemary Addis, Dr Doug McTaggart, Ms Diane Smith-Gander AO, Professor Robynne Quiggin, Dr Helen Szoke AO, and Professor Marcia Langton AM), and our staff at IBA.
“The work that led to this legislative change has been underway for several years now with valuable input from our Expert Panel members, the Minister for Indigenous Australians, the Prime Minister, and the Indigenous community who recognise the impact this will have,” said Mr Godwell.
“This is not the end goal but only the beginning. We look forward to the next steps in this process so we can provide increased access to capital, robust pathways to prosperity, and success through collaboration and partnerships.”
The Minister for Indigenous Australians, Senator the Hon Malarndirri McCarthy, was integral in progressing this result. Minister McCarthy notes the reason this will benefit Aboriginal and Torres Strait Islander people.
“Modernising the ATSI Act will supercharge IBA’s capability to inject capital into activities that promote greater economic empowerment and self-determination for First Nations Australians,” said Minister McCarthy.
“The measure will provide IBA with the opportunity to partner with a range of Government entities and private investors, amplifying the positive economic, social and cultural impact it will have on the lives of First Nations people.
“The ability to participate in more investment opportunities and raise funds to advance the commercial and economic interests of First Nations people will enable IBA to deliver on Government priorities and support its agenda for Closing the gap.”
Media contact: Tara Toohill 02 9207 6362 or tara.toohill@iba.gov.au
PLEASE NOTE: Although the legislation successfully passed, the important next step involves establishing the Rules under the new legislation. The Rules will set the parameters within which IBA can borrow and raise money. The rules need to be agreed by both the Minister for Indigenous Australians and the Finance Minister.
Larrakia Development Corporation Pty Ltd (Larrakia) acquires shares in the Adina Vibe Hotel from Indigenous Business Australia (IBA) demonstrating its continued investment into the Northern Territory tourism industry.
Last week Larrakia completed its purchase from IBA of shares in the hotel and apartment enterprise located in the Darwin Waterfront Precinct. The purchase reduces IBA’s effective ownership to 40% while making Larrakia a 5% owner.
Larrakia’s investment goes beyond fiscal; it allows for a growing Larrakia presence at the Darwin Waterfront, that will create culturally informed spaces and further opportunities for employment and training of the Larrakia people.
Nigel Browne, CEO, Larrakia Development Corporation, noted that now is the right time for the corporation to reinvest in the assets.
“The Larrakia Development Corporation has spent the last twenty-two years investing in economic prosperity for ALL Larrakia. The repurchase of shares of the Adina Vibe allows us to do just that and be able to provide genuine engagement into one of the NT’s economic growth industries,” said Nigel.
"With the Larrakia Cultural Centre slated to open in 2026 and the purchase of these shares, Larrakia Development Corporation is placing our faith in the growing economic and employment opportunities in the NT’s Aboriginal Tourism sector.”
“The Adina is suitably located at the Darwin Waterfront to seize on the growing popularity of the precinct and does not interfere with the nearby registered Larrakia Sacred Site.”
IBA supports and enhances the economic development opportunities of Aboriginal and Torres Strait Islander people across Australia. Divestment opportunities that benefit Indigenous communities are part of the strategy to create wealth and positive impacts for the future.
“The investment by Larrakia Development Corporation means that the Traditional Owners benefit from the future growth of the property. It also further encourages First Nations employment and cultural recognition which lead to a more inclusive community – all key priorities for IBA,” said Shanti Rama, Acting CEO, IBA.
Media contacts:
Tara Toohill 02 9207 6362 / tara.toohill@iba.gov.au
Kate Finch 0413 633 750 / special.projects@larrakia.com.au
About IBA
IBA is a commercially focused organisation. Economic independence for Aboriginal and Torres Strait Islander peoples is at the heart of what we do. Our programs assist Indigenous Australians to buy their own homes, be successful in business, and invest in commercial ventures that provide strong financial returns. IBA is 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. www.iba.gov.au
About Larrakia Development Corporation
Officially incorporated under ASIC in February 2002, the Larrakia Development Corporation is a company owned and operated by the Larrakia people, the traditional owners of the lands and waters in and surrounding Darwin. The company is continually seeking opportunities to establish positive commercial relationships with organisations that are operating on Larrakia Country and beyond. Larrakia Development Corporation aims to work with likeminded operators to build economic wealth and better health for our local community. www.larrakia.com.au
Has your home or business been impacted by the severe weather and recent floods to parts of North Qld and NSW? 
If you have an IBA home loan or business finance product and have been impacted by this weather event, we want to reassure you and your family that IBA is here in times of need.
Customers impacted by the recent natural disaster can apply for an emergency natural disaster relief grant – $5,000 for IBA business finance customers and/or $2,000 for IBA home loan customers.
Impacted customers will receive a direct link to apply. Applications accepted until midnight 21 March 2025, or until funds are exhausted (whichever comes first).
Additional information and resource links are below:
Due to the flooding in Townsville and affected areas, IBA has temporarily closed our Townsville office until further notice.
During this period, all local employees are requested to work from home, considering the safety of our customers and staff.
If you need to speak to anyone at IBA, you can phone us on 1800 107 107 or get in touch via email.
If you’ve been affected by the floods, the Queensland Government may be able to assist:
For further information
