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"We can’t sit around and wait for anyone else": Aboriginal Investment NT's plan for a re-invented economy

Jarred Cross -

A strong Indigenous business sector would represent a revitalised, long-existing pre-colonisation economy - but in a new context, Aboriginal Investment NT's new boss believes.

Larrakia and Wulna man Nigel Browne took on the organisation's chief executive role on a five-year term in March.

He'd previously served in the same position at the Larrakia Development Corporation as Director at the Indigenous Land & Sea Corporation and National Centre for Indigenous Excellence, among other groups.

"There's a lot of similarities" to those roles and that at Aboriginal Investment NT, he told National Indigenous Times. "I've gone from looking after just my mob to looking after all of the different families and communities in the Territory."

"I hope I do a good job over the next five years."

The group, previously the Northern Territory Aboriginal Investment Corporation, adopted a rebrand in 2024.

It coincided with a "historic transition of control from Canberran decision-makers to us, Aboriginal Territorians" within the five-year strategic plan, chair Barbara Shaw said.

Tourism stands as the established industry at the front and centre, both as a success and garnering the attention, Mr Browne said, but within that, is subsidiary pockets; businesses in the products for eco tourism and camping, related technologies and unique experience and storytelling on offer, as some examples.

Broader considerations of industry they can support extend far - chippies, sparkies and plumbers starting their own businesses, he listed off.

"There are so many Aboriginal people in the Territory, and the country for that matter…that are doing so many good things that just don't get the air time," he added.

"We want to just make sure that those people and those businesses have the support they need to grow.

"I really just see that we're re-enlivening our old practices, our old business, our old trade routes, our old song lines. We're just reimagining them in a commercial context."

Aboriginal Investment NT have $680 million in capital drawn from the federal Aboriginal Benefit Account; funds from royalties under the Land Rights Act, to be deployed via business grants, collective impact initiatives and place-based investments.

They announced a $500 million, 10-plus year future fund and $155 million Community Ready Fund.

"Ultimately, it's all about encouraging Aboriginal people and Aboriginal communities to self-determine whatever they want. Every community has its own priorities, its own needs, its own wants. We're here to help facilitate that," Mr Browne said.

He said "we can't sit around and wait for anyone else, including government, to do that for us".

"The more Aboriginal people we have in business, the more money coming into Aboriginal communities through commercial enterprise, helps to build the coffers, helps to put more Aboriginal kids in school, helps to employ more Aboriginal people, and helps us to re-invent an economy that was destroyed during the colonial era of this country," Mr Browne said.

"We're playing catch up with the rest of Australia, and it's our duty to help speed up the process of getting Aboriginal businesses, Aboriginal families and Aboriginal communities on track and working towards defining their own futures."

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National Indigenous Times