Indigenous Business Australia has joined forces with the Larrakia Development Corporation and Aboriginal Investment NT in a landmark agreement to coordinate Aboriginal investment and strengthen long-term economic control and ownership in the Northern Territory.

The memorandum of understanding creates a cooperative framework for identifying and assessing commercial and infrastructure projects while setting out how the three organisations will share due-diligence resources, align financing, and plan future investments. The partnership represents a deliberate move toward more unified Aboriginal leadership in major economic development.

"This partnership is a new approach for IBA in our legislative purpose and in advancing the economic interests of Traditional Owners - on their own lands," said IBA Chair Darren Godwell. "The partners have begun seeking out investment opportunities to secure economic outcomes for the Larrakia peoples."

A Practical Framework for Indigenous Capital

Mr Godwell said the partnership aligns with IBA's expanding mandate following legislative reforms earlier this year that allow it to raise and deploy capital more flexibly. "This type of relationship building is very much front and centre of those new powers," he said. "It allows us to prepare to invest in infrastructure on the lands of the Larrakia people."

He said IBA's broader strategy focuses on mobilising capital with Aboriginal institutions. "IBA will never have as much capital as the private sector," he said. "Our role is to bridge that gap and help Indigenous organisations align with those sources of investment."

In recent months Mr Godwell has outlined a ten-year vision for IBA that includes developing Indigenous-controlled capital markets and supporting Traditional Owners to build lasting economic assets. "IBA is changing - in purpose, in scale, and in mindset," he said in Darwin earlier this week. "We now have the tools to act more like a true development bank for Indigenous Australia."

Larrakia Leadership and Local Direction

For Mark Motlop, Chair of the Larrakia Development Corporation (LDC), the agreement builds on the long history of Larrakia leadership in securing rights and pursuing self-determined development.

"For many decades Larrakia Elders and leaders fought to secure their interests and rights through the Kenbi Land Claim," Mr Motlop said. "This is the next step in securing Larrakia economic rights and economic futures."

The LDC was established in 2002 as the business arm of the Larrakia people. Its revenues are reinvested in community programs including scholarships, cultural initiatives and support for Elders. Mr Motlop said the new partnership would enable Larrakia to examine larger-scale projects while maintaining local oversight.

"There's a lot happening in the Territory," he said. "Now we can sit down together, look at things strategically, and see what's out there."

Collaboration Across the Territory

Barbara Shaw, Chair of Aboriginal Investment NT (AINT), said the agreement shows how Aboriginal institutions can combine their experience and networks to strengthen control over the Territory's economic future.

"This partnership demonstrates the strength of collaboration between Aboriginal organisations with shared values and ambitions," Ms Shaw said. "We're excited to combine our experience, networks and capital to create investment pathways that deliver real and lasting economic empowerment for Aboriginal Territorians."

Aboriginal Investment NT works to grow Aboriginal capital through investments that create both financial returns and social outcomes. Ms Shaw said the partnership gives Aboriginal investors a structure to coordinate their approach to major projects.

Prepared for Opportunity

The memorandum is non-binding but provides the partners with a framework to collaborate on upcoming opportunities. It allows for shared due diligence, pooled capital contributions and coordinated decision-making.

Mr Godwell said the framework would help ensure Aboriginal organisations are ready to act when significant projects arise. "It's about preparation," he said. "It ensures that when the right opportunities come along, Indigenous investors can respond together with confidence."

The signing coincides with the federal review of the Port of Darwin, leased to Chinese company Landbridge in 2015. The partnership creates a pathway for Aboriginal investors to engage in future decisions on strategic national assets.

Beyond the port, the partners say they will focus on opportunities across sectors including energy, logistics, transport and housing - areas that align with long-term regional development and Aboriginal ownership.

A Step Toward Long-Term Ownership

For IBA, the partnership represents an early example of its legislative reforms being applied in practice. Mr Godwell said the agency's role is to support Traditional Owners and Aboriginal corporations in creating and managing capital assets over the long term. "It's about supporting Traditional Owners to create assets that last for generations," he said.

Mr Motlop said the partnership would help ensure that the benefits of development stay connected to Country. "We are ready to take responsibility for our economic future," he said. "This is about working together to make decisions that benefit our people and our Country."

Ms Shaw said cooperation at this level demonstrates confidence in Aboriginal leadership. "We are bringing together the capital and governance needed to lead major projects," she said. "It shows that Aboriginal organisations are ready to take a direct role in shaping the Territory's economy."

Looking Ahead

The three organisations are expected to begin identifying potential investments in the months ahead. Their collaboration aims to build Aboriginal ownership of capital and ensure that future development in the north aligns with community priorities.

Mr Godwell said the signing demonstrates the growing sophistication of Aboriginal economic governance. "This is about building capability and ensuring that Indigenous capital stays in Indigenous hands," he said.

For the partners, the MOU is both symbolic and practical. It establishes a process for long-term cooperation that will support Aboriginal-led development across the north.

"It brings together the experience and capability already within our communities," Ms Shaw said. "This is how we build prosperity that lasts."