Peaks welcome new relationship between Indigenous Business Australia and Waikato-Tainui

The Coalition of Peaks welcomes the first-of-its-kind agreement between two major Indigenous institutions from either side of the Tasman that will see Māori capital used to drive economic growth for future generations.

Indigenous Business Australia this week joined forces with Waikato-Tainui – one of Aotearoa New Zealand’s largest and wealthiest iwi, with NZ$2.4 billion in assets – to explore investment opportunities, share knowledge and build capacity.

The Coalition of Peaks, which is made up of more than 80 Aboriginal and Torres Strait Islander peak bodies, said this partnership is a significant step in self-determination in economic development for our communities and sectors.

“When our people have the resources and opportunities to create meaningful jobs through business development and have sustainable incomes, we see a flow effect on to better health and education outcomes – closing the gap on all fronts,” said Coalition of Peaks Lead Convenor Donnella Mills.

 “This collaboration is special because Māori and Aboriginal and Torres Strait Islander people share a very similar understanding of the goals of economic development.

 “Our focus is on long-term, inter-generational prosperity, and the wellbeing of community and Country. We know economic development must be underpinned by self-determination, to serve the many, not just the few.”

 Indigenous Business Australia and Waikato-Tainui will focus on opportunities to invest in infrastructure, critical minerals, and managed investment funds and special purpose vehicles.

Ms Mills said she hoped this would include working with and strengthening the Aboriginal and Torres Strait Islander community-controlled sector, which is a significant employer and provider of crucial health, social, educational, legal and housing services.

 Through the First Nations Economic Partnership, the Coalition of Peaks is working with the Australian Government to advance Aboriginal and Torres Strait Islander people’s economic security, with a focus on growing the community-controlled sector. Read more here.