Chair’s Report
A message from Dr Dawn Casey
As the newly appointed Chair of IBA I have pleasure in presenting the report of the corporation’s activities for the 2008–09 financial year. Throughout 2008–09, IBA continued to build on the successes and initiatives commenced in previous years while confronting some significant challenges.
The measures outlined in this report represent the corporation’s contribution to supporting the government’s efforts to enhance Indigenous participation and its Close the Gap initiative in the mainstream economy.
Global financial crisis
It is hard to reflect on the past year without acknowledging the significant challenge that was brought about by the global financial crisis in the second half of 2008. The crisis affected many industries, businesses and individuals over the course of the year, and could have derailed many Indigenous enterprises. The corporation’s strategy for dealing with this situation was to give greater emphasis to supporting existing Indigenous businesses, seek advice from a broad range of commercial experts and manage debt levels.
The Board and I were pleased to note that IBA’s processes and support mechanisms assisted many of its clients during the year, substantially minimising the effect of the crisis.
When we became aware of the potential impacts of the global financial crisis, we acted quickly to organise an economic summit to brief Indigenous business owners on emerging trends and the responses of the banking sector and other major commercial institutions.
IBA’s investment assets performed well over the year, an outstanding result considering the downturn in sectors such as tourism. It is a credit to the staff and management of IBA that 2008–09 was a successful year overall.
Challenges like the global financial crisis also bring opportunities. IBA engaged with Indigenous business leaders, with the financial sector, and with industry to look at the investment opportunities that arise in times such as these, and considered emerging industries such as carbon trading. IBA came through the financial crisis in a better position than could be expected, which gives the Board confidence that it will continue to perform strongly. Clearly more can be done, and the Board is now planning for the future, so that the efforts of the past are not seriously eroded by the effects of the financial crisis.
First year under the Rudd Labor Government
In 2008–09, the first full year of IBA operation under the Rudd Labor Government, Indigenous affairs continued to receive a high degree of prominence in government policies and activities, particularly around land tenure, home ownership, employment and closing the gap on Indigenous disadvantage.
The Board and IBA’s management continue to explore how IBA can contribute to these areas of government focus and attention. IBA can use links it has established over a period of time with state and territory governments to complement government efforts to assist Indigenous Australians to participate in the mainstream economy.
As part of the Families, Housing, Community Services and Indigenous Affairs portfolio, we recognise that our efforts are a part of a whole-of-government effort to develop economic measures aimed at improved Indigenous participation in the mainstream economy.
New initiatives
IBA recently awarded the first six scholarships from its IBA Scholarship Fund, which was initiated by the Board in 2007–08. With IBA’s assistance, scholarship recipients will be well placed at the end of their studies to bring the skills and knowledge they acquire back to their communities. On behalf of the Board, I congratulate the scholarship recipients, and wish them all the best in their future endeavours.
During the year, IBA continued to work on improvements in client service delivery through business loan processes, and in hosting strategic business forums for Indigenous groups, industry representatives and others, on topics such as the global economic crisis and carbon trading.
Future direction
While the effects of the global financial crisis are probably far from over, there are encouraging signs, both locally and internationally, that the worst may have passed. While it may be some time before industries such as mining and tourism fully recover, there are still opportunities to be taken. IBA is well placed to assist and advise Indigenous organisations and people so that they can stay the course and, when the time is right, build, grow and prosper.
The Board and I are engaging in a process of consultation, review and strategic development to ensure that IBA continues to maximise its capacity to promote and support the participation of Indigenous Australians in the mainstream economy.
The Australian Government’s continued commitment to addressing Indigenous disadvantage is consistent with the Board’s focus on the role that IBA can play. The Board will be focusing on how IBA can support and link to the strategies being developed by all levels of government.
The Hon. Jenny Macklin MP announced Dr Dawn Casey’s appointment as Chair at IBA’s NAIDOC Week breakfast (10 July 2009) in Brisbane
Acknowledgements
It was a great honour to have my appointment as IBA’s Chair announced during NAIDOC Week, a national celebration of Indigenous history and achievement. IBA’s increasing participation rates in this event are just one of the ways it is fulfilling its commitment to reconciliation.
I acknowledge the invaluable contribution of Mr Bob Blair, who has been acting Chair for a significant part of this financial year. Bob is deeply committed to Indigenous affairs and has contributed immensely to IBA. I also thank my fellow Board members for their contributions, expertise, enthusiasm and assistance provided to me as the new Chair. I thank the staff and management of IBA, who have managed the challenges of the year with great skill and dedication.
I look forward to continuing to serve this immensely capable and inspiring organisation. There are many challenges still ahead, but just as many opportunities.
Dr Dawn Casey with Mr Bob Blair during IBA’s 2009 NAIDOC Week breakfast event in Brisbane