I was born in Ayr, North Queensland and grew up on a sugar cane farm on Bindal and Juru country. My family are mainly of Scottish and Swiss German heritage. Since I grew up on a farm on either side of a large creek/lagoon (big enough for waterskiing), I always loved being outdoors especially near the water. Like many farmers of the region, my father was a keen fisherman, so many weekends and holidays were spent either on the water or near it, both fresh and salt water. I love music, and I love to travel. My current travel fixation is Yaegl country of northern New South Wales. Very much like where I grew up. Lots of water, fishing; and of course, sugar cane. 
Nowadays I reside in Brisbane on Turrbal and Yuggera Country, where I live with my husband Vernon, and my two beautiful daughters, Lara and Sasha. I also can’t forget our Jack Russell Foxies Eddie and Frankie, and the ruler of the house our cat Manola.
I currently work as Manager, Compliance and Process Improvement. The role involves improving compliance outcomes for mandatory processes and finding efficiencies in how we deliver our products and services to our business finance customers. Prior to this, my role was supporting the process of customer repayments and defaults.
After high school I attended James Cook University in Townsville and completed a Bachelor of Commerce. I then accepted an entry-level position at Australian Government Solicitor. I assisted with matters relating to the housing and business lending programs for ATSIC, amongst other paralegal responsibilities for various government departments and agencies, including the ATO, the Child Support Agency, Centrelink, Department of Defence, and the ACCC.
Once ATSIC was dissolved, several Australian Government Solicitor staff transitioned to IBA to assist the housing and business programs. I was invited to have a chat with IBA through a colleague and later applied for a role. That was over 17 years ago, and I’ve never looked back. I cannot believe it has been this long!
I have always had a strong sense of justice and equality. What we aspire to achieve at IBA aligns with my values. Growing up, I was always intrigued by ancient cultures and especially admire, the strength, courage and resilience of Aboriginal and Torres Strait Islander people.
I want to make a difference for the better, and IBA provides an opportunity to do that. It’s great to work where everyone collectively shares your hopes for a better future.
Frasier is a show I have watched religiously; it’s definitely one of my favourite shows. It’s witty, funny and I just love the comedic timing. If there was a quiz or trivia based on Frasier, I would definitely be giving everyone a run for their money.
IBA CEO Kirsty Moore and Chair Eddie Fry spoke with Australian Institute of Company Directors on how IBA is working toward the economic empowerment of First Nations communities. The resulting article describes IBA's 'powerful activities' which has transformed the dream of home ownership into reality, for 21,000 owner-occupier Indigenous families and individuals.
See full article below, which appeared on the AICD website.
Home ownership. For many First Nations Australians, it’s a dream which will only ever remain out of reach and a remote fantasy. But for 21,000 owner-occupier Indigenous families and individuals, it’s an idea which has at last actually transformed into reality, due to powerful activities by federal agency Indigenous Business Australia (IBA).
Roughly, we are nearing 5,000 home loans nationally at this point in time,” IBA CEO Kirsty Moore GAICD told the AICD in a recent interview in Perth. “And we continue to have very, very strong demand.
“The Indigenous home ownership program is the longest running program in the Indigenous affairs portfolio and it's been around for almost 50 years.”
According to the 2021 census, only 41 per cent of First Nations people own their own homes, compared to 66 per cent of non-First Nations people. “So there's a gap,” says Moore. It's a real gap in home ownership. For as long as that gap exists, IBA will need to play a role in in providing that finance where the mainstream banks won't.
“The need for that finance isn't just the fact that our customers live in maybe regional and remote areas where banks do not lend… but it's also because they don't have the bank of Mum and Dad. They don't have that intergenerational asset to support them. And they don't necessarily have role models in their community to look at - people who've owned a property.”
IBA also finances First Nations businesses. These range from small businesses such as Kakadu Kitchen, a non-alcoholic drinks entity with a store in Humpty Doo, and Mack Construction NT, a design and construction service, through to bigger enterprises such as the Centre for Appropriate Technology in Alice Springs, Warialda Engineering and Welding based in NSW, and Wilpena Pound Resort in the Flinders Ranges in South Australia.
IBA has also invested in building a new cucumber farm in Geraldton, Western Australia, and greenhouses are currently being constructed, according to Moore. “It’s part of a native title settlement with the state of Western Australia and we have had some extensive investment into that. The intent is that it will become Australia's largest cucumber farm.”
IBA is working with First Nations organisations across Australia and has joined forces with Export Finance Australia to empower First Nations companies to build their capacity to enter international markets.
IBA has an investment pipeline manages a portfolio of co-investments with Indigenous organisations valued at over $500 million, including direct investments, managed funds and a real estate investment trust. According to the IBA 2023-2024 Corporate Plan, IBA currently has $2 billion in net assets, which it aims to grow to $2.5 billion by 2028.
IBA Chair Eddie Fry, a Dagoman-Wardaman man from the Katherine region in the Northern Territory, told the AICD that IBA has already doubled net assets from $1.15 billion in 2014 to around $2 billion now. “We have cleaned up a lot of non-performing assets and we also have a board that clearly understands the commercial marketplace,” he said.
“We got smarter at doing business. In 2017, we made a massive leap from about 450 home loans to about over 900 in that one year.”
Management culture has also changed both at board level and at the operational level and offices such as the ACT have been downsized. “I would suggest we've taken on a greater corporate and operational approach than we used to have.”
The future
Over the next five years, IBA will facilitate new investment opportunities and new partnership arrangements to increase wealth and assets. It has boosted this work through recent partnership activity with the Northern Australian Infrastructure Facility (NAIF), Housing Australia, and Export Finance Australia (EFA), and in strategic banking partnerships with Australian Unity and Bank Australia.
According to the 2021 national census, there are now nearly one million First Nations people in Australia. The population of Aboriginal and Torres Strait Islander people now sits at around 984,000.
However, high interest rates and high property prices are making home ownership a more difficult proposition for many First Nations people.
“I think a big challenge going forward is to see how IBA can exceed what market conditions are currently determining. In the previous two years, house prices have just skyrocketed. Therefore, that’s going to impact on the ability of our buyers to borrow,” says Fry.
Because first homebuyers are struggling to find properties to purchase, IBA launched in August a shared equity program, which combines a finance option with an IBA home loan. The borrowing capacity of customers is increased, so they do not need to buy smaller properties than they need. “They still borrow the same amount, but by IBA putting in an equity contribution, the customer can hopefully buy a more appropriate home in a better location, with proximity to amenity and family, community in particular,” says Moore.
She says the focus on regional areas is important. Over 60 per cent of the home loan book of IBA is in regional Australia, mostly Queensland and NSW, she says. About 10 per cent is in remote areas, mainly in the Northern Territory and Western Australia.
“That's where the IBA business investment activity comes in, because we believe that if we can create local economic development, that will create opportunities for people ultimately to take control of their own futures.
“We know that home ownership provides security. A roof over your head. We also know this concept of passing assets onto kids really resonates strongly with our customer base, who want to give their kids a bright future. So they want to own a home, and they want to pass on the home. They want those kids to know that they can lay their roots in that place.”
She says IBA is governed by federal legislation and is obliged to make sustainable investment decisions to ensure that when lending to customers, the risks of ultimate financial losses are minimised through good customer support and sensible lending decisions in the first place.
“It is the IBA support which is the bit that creates success,” says Moore. “So it's the support around readiness to enter into that financial commitment in the first place. And making sure that if somebody is going to buy a house, they really understand the obligations of home ownership, that they really understand what it will mean and how they're going to withstand certain pitfalls that might come – that they have financial literacy. We support them through the customer journey for the entire length of the loan.”
UK-born Moore became CEO of IBA in May 2021, after starting as IBA Head of Products and Markets in early 2018. Driven by a passion to help people who need support, she has lived experience of difficulty with home ownership and brings this understanding to her role.
“I think part of my motivation is the fact that I come from disadvantage myself. My family come from a social housing background in the UK and I understand about opportunity. So, for me, I really want to support a cohort of society that needs assistance. It’s really as simple as that.”
Role of the board
The IBA board is composed of majority First Nations members alongside non-Indigenous members – all with business expertise. “Our board understands our customer base, so they understand some of the challenges that sit in community, they understand some of the issues of intergenerational trauma and they understand the concept of a proper fair go,” says Moore.
“They don't want IBA to be purely giving handouts. They want IBA to be investing with people who are ready to actually have a bit of gumption and go forward and take control of their own economic future.”
The board is also heavily focussed on cyber security and in 2021 created an IT subcommittee. “This is a new thing that we put in place a couple years ago in response to the need to make sure technology starts at the board level.
It recognises that we do need to have modern day banking systems, and appropriate data protection in place,” she says.
The board has also driven and monitored a significant digital transformation to update IT and core business systems. “We went from having quite old-fashioned IT systems to being on the cusp of having a modern-day banking system that is used by mainstream financial services institutions. The board has supported the organisation to do that and played an active role in the oversight of that initiative.”
The board is very engaged on the subject of cyber security, inquisitive and keen to understand it, she says. “They're definitely not passive when it comes to technology and implications of cyber and customer protection in general.
“Remember that we are here not only to deal with very sensitive information pertaining to the most disadvantaged but there's also a reputational risk to the Commonwealth government, if we get it wrong.”
Feeling fresh? So are Yamatji Enterprises Limited (YEL), 4 Ways Fresh Produce and IBA. The parties have formed a joint venture company to establish a cucumber farm in Geraldton, Western Australia, creating a legacy for traditional owners.
The company, Yamatji Fresh Produce Pty Ltd, will develop 400 greenhouses to grow cucumbers making it the largest grower in Australia. It will also consider growing other crops such as tomatoes, eggplants and capsicum to fill the national supply gap. The joint venture will provide job opportunities for the community – creating a lasting legacy for generations to come.
In 2022, Yamatji and IBA acquired two adjacent parcels of land in Geraldton WA. Construction of a horticultural facility began in 2023. The first 125 greenhouses are expected to be completed in 2024 and another 125 greenhouses will follow in 2025.
One of the major highlights of last fiscal year was achieving development approval. Navigating through the regulatory landscape was no small feat, but we secured the green light to move ahead with the project. This milestone has paved the way for us to turn our vision into reality, and we cannot wait to see the transformation of the land into a flourishing cucumber haven.
Another significant achievement was the completion of the fencing work around the block. Not only was the completion of the fencing work a significant milestone in our project’s development, but it also represented a crucial achievement in our commitment to First Nations procurement. It marked the first of many First Nations–led contracts we are expecting to secure and deliver.
In addition, groundwork officially commenced with the construction of the dam, which will be the lifeblood of the facility, providing a reliable and efficient irrigation system to support the growth of our cucumber crops. As we dug the foundations, we knew that we were digging the foundations of a brighter future for the Yamatji community. We also initiated the construction of other essential facilities, including the ablution block, an integral part of the working environment for our future employees.
With the first 125 greenhouses under construction, we can already visualise the thriving fields of cucumbers awaiting us in the upcoming harvest. Once built, the facility will be able to produce roughly 1,700 t of cucumbers per annum.
Ben Tyler, a Bininj man and entrepreneur, said no to kunbang (poison, alcohol) when he saw the problems it can bring to his and other communities.
His personal sober lifestyle journey is what inspired him to start his business Kakadu Kitchen. He's recently opened a non-alcoholic drinks store in Humpty Doo which sells a range of delicious drinks that infuse authentic Kakadu native botanicals.
In this video he shares his inspiring business journey story, his challenges and his plans for the future.
I grew up in the Northern Territory in a remote community which shaped my values and provided me with a lot of resilience. I am a very family orientated person and love to spend my spare time with family. I have quite a big family with four children and nine grand kids. I enjoy bush walking, photography, travelling, exploring, and going on adventures.
I am currently the Senior Program Officer for IBA’s Business Solutions Team in Cairns (Yidinji Country). My role involves a continuous improvement approach to identify opportunities and solutions during program/projects lifecycles, provide advice, training and support to internal Business Solutions staff, wider IBA networks and external customers.
For example, First Nations workshop attendees, organisations and facilitators, report on and monitor our KPIs to ensure our targets are on track and review quality standards along with considerable work on the systems and processes that support these projects.
I studied and went to school in Queensland. I attended James Cook University where I did a degree in Business. I have worked in several different places ranging from Federal and State Government to major banks and non-for-profit organisations.
Over the last five years I have been working in the Indigenous non-for-profit sector and was mainly based in Northern Territory and the Cape in far north Queensland. After a while I realised, I wanted to be closer to family and saw a position at IBA in Cairns open. I decided to take the chance and have been here for almost a year now.
I have always had a passion for family especially children, I believe to help children and families we must look at how we can help adults. When I lived in Northern Territory, I witnessed first-hand the impact of poverty, homelessness, and the discrimination against Aboriginal and Torres Strait Islander peoples.
My job allows me to support and create an impact within Aboriginal and Torres Strait Islander communities. It is creating and establishing action to encourage impact, physical action will get an outcome.
I grew up riding horses and always thought they were beautiful spirits, especially Arabian horses. They are such a fiery horse, that smell and look nice. They have such healing spirit, that I sometimes prefer them over people.
IBA’s communications intern and Wiradjuri woman, Zenae Powell, sat down for a yarn with Indigenous Business Month (IBM) co-founder, Dr Michelle Evans, about all things IBM – a month dedicated to celebrating Indigenous businesses, leaders and people within the sector. Michelle is an Associate Professor at Melbourne University and involved in many community-based actions that encourage and advance the great work of Aboriginal and Torres Strait Islander people in business.
IBM is in its ninth year since it was created back in 2015. Now going for nine years strong, IBM has created an impact within the Indigenous community, especially within the business sector, where Indigenous business, employment and leaders continue to grow.
We celebrate and showcase Indigenous business success, excellence, and leadership.
Each year we celebrate and flesh out what the sector values about Indigenous business. This is important because there is very little coverage in the mainstream of the diversity and excellence of the Indigenous business sector. We felt that raising the profile of the sector and telling those stories was so important, not only to raise awareness but also to encourage young people and those who were business hesitant to give it a go.
Next year is 10 years and we’ll be doing bigger and better things for that.
With IBM being held at the same time as the referendum, the inspiration for the theme this year was to recognise the importance of gathering together to support one another during this time. The theme touches on community, especially the community of Indigenous businesses, and the unity and support within First Nations communities.
We thought about how people would be feeling during this time and wanted a theme that would support them. The theme highlights the importance of connection and local safe space gatherings where Indigenous people within the business sector can support, uplift, and celebrate one another. This month showcases many amazing stories from Indigenous businesses and leaders.
The theme encourages people to gather, to seek solace and feedback, and to generate friendships and connections which are at the heart of Aboriginal and Torres Strait Islander culture, in that relational way of being and doing.
The aspiration of IBM is to continue to encourage Indigenous businesspeople to run their own events and for governments and corporates to cooperate and partner with Indigenous business leaders all over the country to support and showcase the events. It is a very democratic initiative where individuals and organisations can contribute by adding events, supporting local businesses, and staying informed with Indigenous leaders within the business sector.
IBM will continue for as long as we find it exciting and positive, as long as it remains as Indigenous business driven. It is the love of creating.
Dilin Duwa exists because of the Indigenous business sector. We have over 300 Indigenous entrepreneurs who have been through our programs. They are the stakeholders of the sector, to provide education through the Murra program and through our grad certificate in Indigenous business leadership. We also do a lot of research, and we get approached by Indigenous organisations to participate in research regarding Indigenous business.
Our work provides education, programs, and dialogue to regional communities, which has been in partnership with IBA. To build Indigenous business in regional parts of Australia, it is important to support and engage with Indigenous businesses and leaders on the ground. They’re the ones doing Blak coffees and who government and other partners like IBA or Supply Nation may go to.
Dilin Duwa’s work supports Indigenous businesses and their leaders to feel economically empowered. To create that shared language about what success is, and the role that Indigenous ecosystems and philosophies have in how First Nations people do business.
The impact of the snapshot thus far is about illuminating registered Indigenous businesses, and demonstrating how many people are employed, how much money is being generated and quantifying the significant contribution of Indigenous businesses to our economy each year.
This is the third year doing the snapshot, and it continues to build more insight into the Indigenous business sector as more and more Indigenous business registries participate.
The picture I used for the research was a spider’s web. During the winter, where I live, there are these intricate webs that grow, and then disappear, and new webs need to be built. I love that metaphor from country, which is kind of like the snapshot. This is what it looks like during the years, and it informs how we, and how policy, can help the shift, grow, and supercharge to create a different snapshot next time.
At the moment we have initiatives, programs and education, but there are so many more possibilities. The snapshot allows us to open up those possibilities and lays the foundation for the future development of the sector.
I am a proud Kija woman from the Kimberley Region in Western Australia, but I grew up in Hobart Tasmania. I now live in Perth (Boorloo), Western Australia and have been there for over eleven years. I purchased my first Home Loan with IBA 16 years ago in Hobart which set me up to be where I am today. I would never have guessed I would be doing the same for our Mob today
I completed year 11 in Hobart and decided to do a hairdressing TAFE apprenticeship; I was a hairdresser from age 17. When I moved to Perth, I completed an Indigenous Traineeship at Westpac which I really enjoyed and gained some finance experience before I joined IBA in 2018.
I am a Home Lending Officer in Perth (Boorloo), Whadjuk Noongar Country. My role allows me to assess home loan applications and support Aboriginal and Torres Islander people into home ownership.
I have found working with IBA an enjoyable experience. I love speaking to mob and being able to support them on their home ownership journey. Helping mob into home ownership is important to me as I know the dream of owning your own home is something many people would love. By supporting mob on their journey to home ownership, it allows me to build a great connection and rapport with our customers.
Building equity in a home can bring loads of opportunities. Such as mine, I sold my first home which allowed me to move interstate and buy my second home with a mainstream bank. I have been with IBA for six years now and it is such a rewarding job, I love feeling like I make a difference.
Anything made by Jason Derulo, he’s my favourite singer, I listen to him every day!
A proud Adnyamathanha woman from South Australia, Narelle grew up in a small country town with only a couple of hundred people where everyone knows one another. She never thought it would be possible to own her first home but set her sights on making it happen.
Looking for a change in pace, Narelle moved to Queensland about four years ago. Loving the vibe of Townsville, Narelle’s next steps were to work her way through COVID and a rental crisis, seeing home ownership as her way forward. Unfortunately, without a financial background and the required deposit, she was knocked back for a home loan by the local bank. Instead of giving up, Narelle persevered with strong willpower and thousands of years of ancestors guiding her way.
Seeing is believing and Narelle watched her sister and partner get their own home with an IBA Home Loan and she craved the security that provided. They shared their experience with Narelle and she decided to take the chance on herself.
Timing is everything. So, Narelle got started in conversations with IBA around two years ago. She was approved for a home loan, unfortunately it was during the beginning of COVID which put a setback on the house hunting process. She was given extra time to find a home but realised she wasn’t ready.
Second try was the charm for Narelle! Although the thought of home ownership was intimidating, she just kept asking questions. When she was unsure, she would contact IBA and get the information she needed.
“Without the help of Piari (IBA Home Lending Officer), my family, and IBA, this wouldn’t be possible,” says Narelle.
In a time of rental crisis and inflation, a lot of people are deterred from home ownership. Aboriginal and Torres Strait Islander people, in particular, can feel discouraged from taking opportunities. Narelle wants mob to know they have options.
Narelle said, “Don’t get discouraged, if I can do it, so can you.”
As a single Blak woman, Narelle achieved her home ownership dreams, which demonstrated true girl boss behaviour.
Narelle shares what worked for her with those wanting to own a home, “Get rid of ‘buy now, pay later’ schemes that bog you down with high interest rates, save as much as you can, and occasionally go without that takeaway coffee.”
For Narelle, home ownership was about overcoming her insecurities about her financial awareness, and achieving the security of her own home and not worrying about renting. She said, “If you want it enough, keep going…I’m, so glad and lucky to be a homeowner, it has definitely changed my life.”
Want to learn more about home ownership? Everyone’s journey is different. Check out one of IBA’s free workshops or subscribe to IBA’s Economics Explainer vodcast series, where we talk about interest rates, to find out more.
View Nikea's video story here.
This journey towards home ownership explores the inspiring story of Gamilaraay woman Nikea – a single mother who defied societal expectations and broke the cycle of living in social housing by purchasing her own home. Her accomplishment serves as an inspiration for both Indigenous and non-Indigenous women, highlighting the importance of financial stability, generational wealth, and changing narratives for future generations.
For Nikea, her home ownership journey began when she received the news her family would have to move out of the rental property that they had been living in for 12 years. With the pressure building and the uncertainty of where she would relocate her family, she decided to make her next move: from renter to homeowner.
Nikea’s action is a testament to her strength and determination as a single Indigenous mother fighting for the security of her family. She purchased the property that she had been renting for 12 years and described it as ‘an overwhelming achievement’.
Being the first homeowner in her family, she became a trailblazer, inspiring her children and other family members to follow in her footsteps. The greatest rewards of home ownership for Nikea, are the sense of financial stability and security it provided for her family. Her success didn’t happen overnight; it required careful planning and sacrifice. She prioritised savings, sought financial advice, and worked closely with her IBA relationship managers to get her ready.
Reflecting on her own journey, Nikea shares valuable advice for aspiring homeowners:
“I think it’s imperative to emphasise the importance of full-time employment, managing debts responsibly, and proving the ability to save. Demonstrating responsible spending habits and financial discipline are all key factors in preparing for home ownership and its important people understand this,” said Nikea.
She adds to the inspiration by saying, “I hope my journey to home ownership encourages others to seek guidance, ask questions and surround themselves with people who can provide support and knowledge throughout the process.”
From renting to home ownership, Nikea demonstrates her resilience and determination. Her achievement not only provides personal satisfaction but also serves as an inspiration to others to pursue the possibilities of home ownership.
By breaking the cycle of social housing and securing generational wealth, Nikea is rewriting the narrative for her children, empowering them to achieve their goals and creating a brighter future. Her story reminds us of the transformative power of home ownership.
Find out more about IBA’s free workshops on understanding credit or how to create a budget to support your next steps to home ownership.
