South-West WA Native Title bodies need to work together for $50 billion Noongar 2050 fund

Former Federal Indigenous Affairs Minister Ken Wyatt. Credit Will Russell / The Guardian

Former Federal Indigenous Affairs Minister Ken Wyatt says six Noongar Native Title holder bodies will need to keep working together to develop a new $50 billion Noongar investment fund for the benefit of all Noongar people.

Mr Wyatt is the chairman of the Indigenous Business Council, the new non-profit body set up to oversee the Noongar 2025 initiative, a Sovereign Wealth Strategy for South West Aboriginal people.

But the council is also overseeing the Indigenous Future Leaders Assembly and the Gather Foundation, and the Indigenous Business Integrity Register - which was created amid concerns about the ownership of firms registered with Commonwealth Government-owned Supply Nation.

Mr Wyatt said the plans to create a $50 billion future fund for Noongar businesses and investments for the future would rely on.

The Council’s main strategy is built around assets in the South West native title settlement, which covers about 200,000 square kilometers of land held by Native Title Holder groups from Jurien Bay to Ravensthorpe, including Boorloo-Perth.

Mr Wyatt said stronger partnerships in sectors including mining and defence could help Noongar businesses build wealth, create jobs and provide better opportunities for future generations.

Ngaarda Media’s Tangiora Hinaki spoke with Mr Wyatt after the Noongar2050 conference last week: