Latest news with #NationalAboriginalCapitalCorporationsAssociation
Cision Canada
12 hours ago
- Business
- Cision Canada
We're back!! Indigenous Prosperity is Here To Stay
, /CNW/ - We're back. Collectively, Indigenous people are now an economic power to be reckoned with. The statistics show as much: the $56 billion that Indigenous businesses add to the Canadian economy each year, or tens of billions in assets held by Indigenous economic development corporations. What brings it home for me though are the people. This past May, at the National Aboriginal Capital Corporations Association's (NACCA) sixth annual Indigenous Prosperity Forum, I looked around the room at all the young Indigenous business owners attending. The youth were confident, ascendant. Digital creators, artisans, carpenters, business managers: all these young people have assumed their place in the broader economy, just as their ancestors intended. And the youth also saw their responsibility to give back to their communities—all the more where they benefit from the same rights that their parents and grandparents fought hard to reclaim in prior generations. Make no mistake: those rights have driven our re-empowerment. Indigenous people have won almost every case involving resource rights we have brought before the courts. Governments at every level will recall this if they try short-circuiting our rights to expedite approvals for major resource projects. Indigenous leaders are again reminding them of our treaties and their constitutional obligations. Federal and provincial governments say they want to move as swiftly as possible. They can do so only by involving our leaders—early and often. We've already shown that Indigenous people are business-minded, yet our bottom-line also involves responsibilities to our communities and our lands. So why not work with us to ensure we can meet them? To succeed, a major project on Indigenous land will need to rest on three pillars: equity partnerships, impact benefit agreements, and resource revenue-sharing with governments. First, major projects need to bring in economic development corporations as equity partners, to ensure that communities also have a stake in a project's success. Second, the conclusion of Impact Benefit Agreements will help ensure that local economies can also benefit from jobs and contracting opportunities. Third, Crown parties will need to share their government resource revenues with the governments of impacted communities, who will need to steward their territories long after the projects have ended. As an additional crucial measure, Canada also should include an Indigenous member to the federal selection committee for major projects. One thing is certain: we are back. We're an economic force, and we're not going away. The upcoming cohort of youth entrepreneurs is strong, smart, committed—an inspiration to other youth in our communities as they reclaim their pride and self-reliance. Canadian historian Professor Ken Coates framed it well at the Indigenous Prosperity Forum: "the work being done now is building a Canada for 2050 and 2075. Indigenous prosperity is imminent, and it's been an honour to watch the transformation." Indeed, it's been an honour to watch. Now let's transform Canada's economy together. About NACCA NACCA, the National Aboriginal Capital Corporations Association, is a network of over 50 Indigenous Financial Institutions (IFIs) dedicated to stimulating economic growth for all Indigenous people in Canada. These efforts increase social and economic self-reliance and sustainability for Indigenous people and communities nationwide.
Cision Canada
14-05-2025
- Business
- Cision Canada
NACCA SIGNS FIRST OF ITS KIND 10-YEAR FUNDING AGREEMENT WITH THE GOVERNMENT OF CANADA
OTTAWA, ON, May 14, 2025 /CNW/ - The National Aboriginal Capital Corporations Association (NACCA) is thrilled to announce its ten-year funding agreement with Indigenous Services Canada. The first of its kind between the federal government and an Indigenous economic organization, the agreement signed on May 5, 2025, represents a milestone on Canada's journey to a transformed fiscal relationship with Indigenous peoples. "This agreement testifies to the proven value of the Indigenous Financial Institutions network and the deepening trust of our government partner," says Shannin Metatawabin, NACCA's Chief Executive Officer. "Providing an average of $83 million per year, the funds will enable our long-established network of 50+ developmental lenders to continue promoting jobs, services, and empowerment for businesses in Indigenous communities across the country." Indigenous Financial Institutions offer not just loan capital, but access to tools and supports to achieve better daily business practices and focus on sustainability. With this funding, they can continue providing Indigenous entrepreneurs and community-owned businesses with non-repayable contributions to cover eligible project expenses, in addition to their repayable loans. The funds will support delivery of the network's flagship Aboriginal Entrepreneurship Program to promote Indigenous business success, as well as popular new programming tailored to women and youth Indigenous entrepreneurs. A portion will reinforce the network itself, helping NACCA and our members enhance capacity to manage the increasing demand. "We are grateful for the trust the federal government has placed in NACCA and the network to deliver," says NACCA chair Elaine Chambers. "That trust is well placed. Our members are Indigenous professional organizations committed to rebuilding their communities and economies. We've worked so hard to get here—it's exciting to think of all we will achieve together over the next decade." Now that it has the master agreement, NACCA will conclude agreements with individual IFIs. The funds will support the business success of Indigenous clients this fiscal year and beyond. Quick Facts A first of its kind agreement between the Government of Canada and an Indigenous Economic organization. NACCA is the national voice for over 50 Indigenous Financial Institutions (IFIs) working to advance economic reconciliation by providing Indigenous entrepreneurs with the capital and support they need to thrive. The IFI network has provided $53,000+ loans totaling $3.3 billion to businesses owned by First Nations, Métis, and Inuit. About NACCA NACCA, the National Aboriginal Capital Corporations Association, is a network of over 50 Indigenous Financial Institutions (IFIs) dedicated to stimulating economic growth for all Indigenous people in Canada. These efforts increase social and economic self-reliance and sustainability for Indigenous people and communities nationwide.
Yahoo
14-05-2025
- Business
- Yahoo
NACCA SIGNS FIRST OF ITS KIND 10-YEAR FUNDING AGREEMENT WITH THE GOVERNMENT OF CANADA
OTTAWA, ON, May 14, 2025 /CNW/ - The National Aboriginal Capital Corporations Association (NACCA) is thrilled to announce its ten-year funding agreement with Indigenous Services Canada. The first of its kind between the federal government and an Indigenous economic organization, the agreement signed on May 5, 2025, represents a milestone on Canada's journey to a transformed fiscal relationship with Indigenous peoples. "This agreement testifies to the proven value of the Indigenous Financial Institutions network and the deepening trust of our government partner," says Shannin Metatawabin, NACCA's Chief Executive Officer. "Providing an average of $83 million per year, the funds will enable our long-established network of 50+ developmental lenders to continue promoting jobs, services, and empowerment for businesses in Indigenous communities across the country." Indigenous Financial Institutions offer not just loan capital, but access to tools and supports to achieve better daily business practices and focus on sustainability. With this funding, they can continue providing Indigenous entrepreneurs and community-owned businesses with non-repayable contributions to cover eligible project expenses, in addition to their repayable loans. The funds will support delivery of the network's flagship Aboriginal Entrepreneurship Program to promote Indigenous business success, as well as popular new programming tailored to women and youth Indigenous entrepreneurs. A portion will reinforce the network itself, helping NACCA and our members enhance capacity to manage the increasing demand. "We are grateful for the trust the federal government has placed in NACCA and the network to deliver," says NACCA chair Elaine Chambers. "That trust is well placed. Our members are Indigenous professional organizations committed to rebuilding their communities and economies. We've worked so hard to get here—it's exciting to think of all we will achieve together over the next decade." Now that it has the master agreement, NACCA will conclude agreements with individual IFIs. The funds will support the business success of Indigenous clients this fiscal year and beyond. Quick Facts A first of its kind agreement between the Government of Canada and an Indigenous Economic organization. NACCA is the national voice for over 50 Indigenous Financial Institutions (IFIs) working to advance economic reconciliation by providing Indigenous entrepreneurs with the capital and support they need to thrive. The IFI network has provided $53,000+ loans totaling $3.3 billion to businesses owned by First Nations, Métis, and Inuit. About NACCA NACCA, the National Aboriginal Capital Corporations Association, is a network of over 50 Indigenous Financial Institutions (IFIs) dedicated to stimulating economic growth for all Indigenous people in Canada. These efforts increase social and economic self-reliance and sustainability for Indigenous people and communities nationwide. Related Links: NACCA website: SOURCE National Aboriginal Capital Corporations Association View original content to download multimedia: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
