Australia and New Zealand’s largest indigenous investment institutions have partnered to invest in major indigenous-led projects in Australia.
Together the Indigenous Business Australia (IBA) and Waikato-Tainui organisations represent more than $4.4 billion in indigenous-owned assets.
The organisations have signed a Memorandum of Understanding to investigate opportunities to expand investment in Australian mining and critical minerals, and in long-term infrastructure assets and projects spanning energy, water, transport, and logistics.
IBA Chair Darren Godwell said the agreement marked a shift in the role indigenous institutions played in capital markets.
“This is the first of what we hope will be many such agreements to come,” Mr Godwell said.
“It is a practical agreement focused on building capability, sharing expertise, and identifying opportunities where we can work together to deliver stronger economic outcomes for indigenous peoples.”
Waikato-Tainui chair Tuku Morgan said the agreement reinforced the importance of indigenous economic cooperation across the region.
“Our peoples share a commitment to self-determination, intergenerational wellbeing and long-term economic prosperity,” Mr Morgan said.
“This agreement creates a platform for collaboration that can help unlock new opportunities and strengthen outcomes for our communities.”
Australia’s indigenous economy generates an annual revenue of $16 billion, and is projected to grow to $50 billion a year over the next decade according to the 2021 Census.
The IBA is an Australian Government corporate Commonwealth entity that supports Aboriginal and Torres Strait Islander people through home ownership, business finance, and investment initiatives.
Waikato-Tainui is one of New Zealand’s largest and wealthiest indigenous organisations, with investments in retail centres, hotels, office blocks, residential subdivisions, as well as ports, agriculture, forests, and fishing quotas.
