IBA invests in Indigenous communications company

Indigenous Business Australia (IBA) has announced investment in Indigenous company Message Stick Communications.

The IBA Board approved the investment to acquire shares in the company from foundation shareholders, resulting in the Aboriginal ownership of the business increasing from 51% to 67% with the remaining 31% owned by IBA and 2% by Dugald Russell.

Message Stick Communications is a successful majority Aboriginal-owned business that provides unified communications services - predominantly audioconferencing - to a range of corporate and government clients.

Dr Dawn Casey, IBA Chair, said it is a sound investment in an established and successful Indigenous business that will provide strong returns.

“Through its anticipated strong returns, the investment will help IBA’s Investments program to fund its broader work in the area of Indigenous economic development,” Casey said.

“This is an exciting move for IBA as it will diversify our investment portfolio beyond our traditional areas of focus.”

The IBA Equity and Investments program does not receive an annual budget appropriation from the Australian Government and its operating expenses are funded entirely from returns on its investment portfolio.

“Despite the clear opportunity for Indigenous engagement, Michael has always insisted that Message Stick should win our business through the quality of its service,” Allens Chief Executive Partner Michael Rose said of Message Stick CEO Michael McLeod.

“We have received outstanding service and enjoyed a close relationship with the Message Stick team - it is the quality of service that will take this relationship into the future.”

The business will continue to be expanded through further marketing of existing services and through the addition of products such as corporate-grade managed videoconferencing.