Latest news with #Indigenous-owned
Canada Standard
12-06-2025
- Business
- Canada Standard
Risks, Uncertainty Cloud Future of Ksi Lisims LNG Facility: IEEFA
The Indigenous-owned Ksi Lisims liquefied natural gas (LNG) project in British Columbia faces major local risks and global market uncertainty that could derail its success, a new report warns. With these challenges factored into financial projections, it is "highly unlikely" that the floating gas liquefaction and export terminal can be delivered on budget, the Institute for Energy Economics and Financial Analysis (IEEFA) writes in the report. Planned for B.C's northern coast, Ksi Lisims would export 12 million tonnes of liquified natural gas per year, supplied by the approved-but not yet built-Prince Rupert Gas Transmission line. It is located on Nisga'a land and backed by a partnership between the Nisga'a Nation, Texas-based Western LNG, and Alberta's Rockies LNG. The project is undergoing environmental assessments and seeking regulatory approvals ahead of a final investment decision expected later this year. But Ksi Lisims has faced opposition from the start. Last November, Gitanyow Hereditary Chiefs declared plans for an Indigenous Protected and Conserved Area (IPCA) to block the pipeline's route over environmental concerns. The pipeline also crosses rugged terrain and sensitive marine areas, adding engineering and regulatory hurdles, says IEEFA. View our latest digests Challenges like these significantly affect Ksi Lisims' financial prospects, suggests IEEFA's analysis. The project's dependence on the Prince Rupert pipeline for feed gas is a key risk, the report states. B.C. has just recently confirmed that the pipeline permit is viable after it expired last November, but some First Nations have legally challenged it, alleging inadequate consultation and environmental review. Protests led by the Gitananyow Hereditary Chiefs could add more costs, as with past megaprojects like the Coastal GasLink pipeline, writes IEEFA. Ksi Lisims' developers say they will reduce emissions by powering the facility with renewable hydropower from the B.C. grid, and are targeting net-zero operations. But IEEFA cites uncertainty about securing BC Hydro's electricity supply as another layer of risk, imperilling the facility's net-zero ambitions and thus its regulatory compliance. "Without hydroelectricity, Ksi Lisims LNG will have to rely on gas-powered turbines which increase project capital costs by approximately C$2 billion," adds IEEFA. The project partners have yet to finalize an agreement with BC Hydro to connect the facility to the North Coast Transmission Line. Meanwhile, other upcoming LNG projects in the province are competing for the same grid capacity. Net revenue is also questionable given the lack of LNG takers, IEEFA writes, estimating that about 70% of planned production has no dedicated buyer. The twin floating LNG barges planned for the terminal face higher operating costs in harsh marine environments, are largely "unproven in Canadian waters," and will provide few local jobs. And by the time Ksi Lisims would start supplying LNG-its targeted completion date is in 2029-many similar projects are due to come online across the world, creating a global glut, IEEFA writes. This oversupply could align with weakening demand-as expanding clean energy capacity and tighter emissions regulations lead to structural declines in LNG use. Evolving domestic markets could also undermine success, as competition for gas as a feedstock within Canada limits the volumes available for export. "While project developers praise its potential economic benefits, the viability of the Ksi Lisims project depends on its ability to overcome cost pressures, secure firm purchase commitments, and navigate a highly competitive global LNG market amid uncertainties about demand trends," writes IEEFA. "At this point, both the project and Canada's broader LNG ambitions remain vulnerable to formidable headwinds." Source: The Energy Mix
Yahoo
05-06-2025
- Business
- Yahoo
BDC and First Nations Bank of Canada launch a $100M initiative to boost business acquisitions
Acquisition of established businesses seen as a model of economic reconciliation TORONTO, June 05, 2025 (GLOBE NEWSWIRE) -- First Nations Bank of Canada (FNBC) and the Business Development Bank of Canada (BDC) today announced a $100M initiative to increase business acquisitions by Indigenous communities and economic development agencies across the country. The timing is crucial as a significant number of Canadian entrepreneurs will retire in the next few years and are actively looking to sell their business built over decades. This creates a unique opportunity where there are more companies for sale than there are buyers. The new joint financing initiative, with an expected average deal size of $5M, will make business acquisitions much faster. In the spirit of economic reconciliation, this initiative will enable Indigenous communities and economic development agencies to have more access to capital for business acquisitions and support majority-owned Indigenous businesses. 'When I took the helm of the FNBC two years ago, we decided as a team to accelerate growth opportunities for wealth creation in Indigenous communities. The unique demographic challenge we face over the next few years is a major opportunity for Indigenous communities and their economic development agencies. It will allow them to acquire companies with strong track records. And with Indigenous ownership, the companies will be more competitive for many reasons including procurement policies that favour Indigenous-owned businesses,' said Bill Lomax, President and CEO of the FNBC. 'The initiative between FNBC and BDC is a great example of how a common desire to take action towards economic reconciliation can lead to concrete business deals that benefit all players,' said Isabelle Hudon, President and Chief Executive Officer of BDC. 'First Nations Bank has the trust of Indigenous communities across the country and know their unique needs the best. BDC will provide an innovative financing solution in collaboration with First Nations Bank to help Indigenous communities grow and make business acquisitions. Together, we can accelerate the rise of the next generation of Indigenous business champions.' The number of Indigenous business owners is expected to grow by 23% in the next decade. They are one of the fastest growing segments of entrepreneurs in our country and more than double the 10% increase projected for other Canadian entrepreneurs. Fully engaging them could result in a significant annual increase in GDP of 1.5%. This initiative is part of BDC's Community Banking ambition launched last year. It provides financing and advice through trusted partners, aiming to have a multiplying impact, ignite entrepreneurship and reach 100,000 more entrepreneurs in the next 10 years. An initiative which complements BDC's Inclusive Entrepreneurship team's $50M loan envelope and a $100M investment platform to support Indigenous-led businesses, which will be operational in the coming months. About FNBC: Founded in 1996, First Nations Bank of Canada (FNBC) is a Canadian chartered bank focused on providing financial services to the Indigenous marketplace in Canada. FNBC is 88% Indigenous owned and controlled. The Bank offers Indigenous and non-Indigenous people, corporations and governments a full range of personal and business banking services including loans, mortgages, investments (registered and non-registered), transaction accounts and cash management as well as trust services through its wholly owned subsidiary, FNB Trust. First Nations Bank of Canada is an approved member of the Canada Deposit Insurance Corporation, the Canadian Payments Association and is an approved mortgage lender with Canada Mortgage and Housing Corporation, as well as the First Nations Market Housing Fund. About BDC: 80 years as Canada's bank for entrepreneurs BDC is a partner of choice for all entrepreneurs looking to access the financing and advice they need to build their businesses and tackle the big challenges of our time. Our investment arm, BDC Capital, offers a wide range of risk capital solutions to help grow the most innovative firms. BDC's development role means we are in a state of perpetual evolution – wherever entrepreneurs go and whatever the Canadian economy needs – we will be there to help them defy the odds. 80 years later, that commitment remains very much alive. BDC's financing services in 2025 alone will add an estimated $25 billion in GDP to Canada's economy over the next five years. We are one of Canada's Top 100 Employers and Canada's Best Diversity Employers, and the first financial institution in Canada to receive the B Corp certification in 2013. For more information on our products and services and to consult free tools, templates and articles, visit or join BDC on social media. Media contacts For BDC Hélène GuillemetteSenior Advisor, Public Affairs and External CommunicationsBDC1-844-625-8321 For FNBC Jed Johns Chief Marketing Officer First Nations Bank of Canada (780) 267-2880 Rosemary ThompsonCommunications Advisor First Nations Bank of Canada (613) 240-6739rosemary@ 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
Cision Canada
02-06-2025
- Business
- Cision Canada
Bell Canada and National Indigenous Connectivity Inc. to advance broadband and wireless access for rural and remote First Nations Communities Français
Joint agreement aims to close the digital infrastructure gap for high-speed Internet and wireless services in underserved First Nations communities Both organizations call on the CRTC to reverse its policy that discourages private sector investment in broadband network expansion Agreement builds on Bell's ongoing commitment to reconciliation with Indigenous Peoples and First Nations communities This news release contains forward-looking statements. For a description of the related risk factors and assumptions, please see the section entitled "Caution Concerning Forward-Looking Statements" later in this news release. MONTRÉAL, June 2, 2025 /CNW/ - Bell Canada and National Indigenous Connectivity Inc. (NICI) today announced a new Reconciliation Agreement with the shared goal to advance connectivity in rural and remote First Nations communities. NICI is a 100% Indigenous-owned technology company that advocates for wireless spectrum access and high-speed Internet for all First Nations. In response to the 2024 Assembly of First Nations (AFN) and Indigenous Services Canada report, Closing the Infrastructure Gap, Bell and NICI will work together to expand infrastructure and service delivery in underserved First Nations communities by 2030. This partnership builds on Bell's 2024 commitment, which affirms the company's ongoing dedication to fostering positive and mutually respectful relationships with Indigenous Peoples and communities. Bell and NICI will work collaboratively to implement their Reconciliation Agreement. As part of the agreement, Bell will work with NICI on long-term broadband and wireless deployment plans. Bell is also reaffirming its commitment that employees working with Indigenous communities complete training aligned with the Truth and Reconciliation Commission 's Call to Action #92. Quote "Bell fully supports the National Indigenous Connectivity Inc's goal of closing the digital infrastructure gap in rural and remote First Nations communities. To close this gap, we need stable, long-term public policy and a regulatory environment that enables private sector investment in telecommunications networks. Together with NICI, we can build, grow, and connect Canadians to support continued private investment in critical network connectivity to First Nations communities." - Michele Austin, Vice-President, Public Affairs, Bell Canada. "Many Indigenous communities still lack reliable, high-speed internet, limiting opportunities and essential services. We believe that connectivity is a fundamental right – essential for education, economic development, healthcare, and self-determination. The National Indigenous Connectivity Initiative (NICI) is committed to advocating for all remote and rural First Nations across Canada to have access to spectrum and high-speed internet." - Leoni Rivers, Chief Executive Officer, National Indigenous Connectivity Inc. Bell is Canada's largest communications company 1, providing advanced broadband Internet, wireless, TV, media and business communication services. Founded in Montréal in 1880, Bell is wholly owned by BCE Inc. To learn more, please visit or Through Bell for Better, we are investing to create a better today and a better tomorrow by supporting the social and economic prosperity of our communities. This includes the Bell Let's Talk initiative, which promotes Canadian mental health with national awareness and anti-stigma campaigns like Bell Let's Talk Day and significant Bell funding of community care and access, research and workplace leadership initiatives throughout the country. To learn more, please visit About National Indigenous Connectivity Inc. (NICI) NICI is a national, Indigenous-led organization focused on advocacy, access to spectrum, and high-speed internet services for remote and rural First Nations communities across Canada. NICI is supported by the Assembly of First Nations and is focused on ensuring that all First Nations communities have access to the digital tools needed to thrive in the modern economy. The NICI calls for Indigenous Services Canada (ISC) to support NICI in ensuring high-speed internet solutions developed by First Nations for First Nations, dedicated federal funding to ensure long-term investment in Indigenous connectivity initiatives and training, and for ISC and Innovation, Science and Economic Development Canada (ISED) to work directly with NICI to increase Indigenous service-provider capacities, access to spectrum, market data, and policy frameworks. _________________________________ 1 Based on total revenue and total combined customer connections. Contact: Bell Media Relations: [email protected] National Indigenous Connectivity Inc.: Leoni Rivers, Chief Executive Officer [email protected] Caution Concerning Forward-Looking Statements Certain statements made in this news release are forward-looking statements, including statements relating to the agreement between Bell Canada and NICI intended to advance connectivity in rural and remote First Nations communities (the "Reconciliation Agreement") and the benefits expected to result therefrom, the planned expansion of infrastructure and service delivery in underserved First Nations communities by 2030, Bell Canada's and NICI's long-term network deployment plans, and other statements that are not historical facts. All such forward-looking statements are made pursuant to the "safe harbour" provisions of applicable Canadian securities laws and of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to inherent risks and uncertainties and are based on several assumptions which give rise to the possibility that actual results or events could differ materially from our expectations. These statements are not guarantees of future performance or events, and we caution you against relying on any of these forward-looking statements. The forward-looking statements contained in this news release describe Bell Canada's expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by applicable securities laws, Bell Canada does not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Forward-looking statements made in this news release, including the planned expansion of infrastructure and service delivery in underserved First Nations communities by 2030, Bell Canada's and NICI's long-term network deployment plans, and the benefits expected to result from the Reconciliation Agreement, are subject to certain risks and uncertainties and are based on certain assumptions including, without limitation, the prevailing regulatory environment as well as the availability of sufficient equipment, labour and capital. Accordingly, there can be no assurance that the planned expansion of infrastructure and service delivery in underserved First Nations communities by 2030, as well as Bell Canada's and NICI's long-term network deployment plans, will be completed, or that the benefits expected to result from the Reconciliation Agreement will be realized. For additional information on assumptions and risks underlying certain of our forward-looking statements made in this news release, please consult BCE Inc.'s (BCE) 2024 Annual MD&A dated March 6, 2025, BCE's 2025 First Quarter MD&A dated May 7, 2025 and BCE's news release dated May 8, 2025 announcing its financial results for the first quarter of 2025, filed with the Canadian provincial securities regulatory authorities (available at and with the U.S. Securities and Exchange Commission (available at These documents are also available at
West Australian
31-05-2025
- Business
- West Australian
Solo women travelling in good company
Women-only tours to destinations around the world are attracting solo guests of all ages and relationship status. Intrepid Travel offers six women's expeditions to India, Nepal, Morocco, Turkey and Saudi Arabia, with help available to book flights and pre or post accommodation. Senior product manager Jenny Gray launched Intrepid's initial expeditions to Jordan, Iran and Morocco on International Women's Day in 2018. They started as her passion project after she listened to feedback from women who wanted more opportunities to connect with local women and learn about their lives. For cultural and religious reasons, this wasn't always possible in mixed-gender groups. 'We thought it was a fantastic opportunity to create something that was really special and would incorporate experiences,' Jenny says. Intrepid expeditions are limited to 12 guests and the average group size is usually eight to 10, while women's ages can range from 20 to 80. 'An incredibly high percentage of the travellers on the women's expedition are travelling solo,' Jenny says. 'Globally that was around 80 per cent last year but for the Australian and New Zealand customers it's 66 per cent of them travelling solo, not necessarily single but choosing to travel alone.' For context, Jenny says 24 per cent of all Intrepid travellers (on any tour) from Australia and New Zealand are solo female travellers. She has also noticed huge growth in the 50-plus demographic. 'I've seen it described in a lot of reports as women living their second-best life,' she says. 'For whatever reasons they never put themselves first due to career, home and family and now it's their time.' India is the most popular Intrepid women's expedition with more than 20 departures a year, but Saudi Arabia has taken off since its launch a year ago. 'We've seen more bookings on that particular destination in the first six months of it being on sale than any other trip in the range,' Jenny says. Jenny says having Intrepid's own teams on the ground helps secure experiences unique to the women's-only expeditions. 'There are a lot of products on the market that are women-only trips, but they are standard itineraries that are just designated for women only. There's not really anything different in the design. 'That's what has set us apart; we wanted to make sure that the experiences we build into the itinerary are unique and special that will give women an opportunity to connect with women on the ground and give women on the ground an opportunity to share their own stories of what life is really like, their triumphs and the challenges. 'Intrepid always tries to support female, minority Indigenous-owned businesses in our supply chain but on these trips, it is intrinsic to the design.' Jenny cites an example of a city tour in India by tuk-tuk, made possible by supporting micro loans to women to become trained drivers. 'They can then support their families by having their own businesses,' Jenny says. Sonia Orrego, head of product at Wendy Wu Tours Australia, says solo travellers make up around 30 to 35 per cent of its guests, and many of those are women of all ages, backgrounds and life stages. 'Some are first-time solo travellers, others are seasoned explorers,' Sonia says. 'Many travel solo by choice, while others are seeking new adventures after life changes. 'For those who love the idea of sharing their journey with fellow solo travellers, we've created special tour departures reserved exclusively for solo guests. 'These tours offer a welcoming, community-style experience from the very beginning, because everyone on the trip is there and enjoying the trip as a solo traveller.' While they aren't women-only, Wendy Wu offers dedicated solo departures to destinations including China, India and Japan. Sonia says culturally-rich destinations 'continue to resonate with women looking for unique and meaningful travel experiences'. Sisterhood Womens Travel founder Hayley Morris was running a travel agency in a small Victorian country town when she discovered many rural women wanted to travel but their husbands couldn't leave their farms. She did a test trip to Hong Kong with a dozen women and noticed the camaraderie, support and encouragement among the group. 'That's when the magic started,' Hayley says. 'I decided that there really was something in it, so I decided to pursue that and eventually it overtook my retail travel agency.' Sisterhood Womens Travel has been operating for 20 years and ran its first official tour to Morocco, a destination Hayley continues to visit. Future tours range from a mini-break in Tasmania, to a 20-day Greek Islands adventure. Most guests are aged 60 and over. 'It's more about physicality because you can have a really healthy 80-year-old and have a really unhealthy 50-year-old,' Hayley says. 'Sometimes people get a little bit caught up on the age, whereas we really tend to concentrate more on their fitness.' The maximum number of guests on a tour is 16, with the average group size around 12. Sisterhood's hosted tours start and end in Melbourne but guests from all over Australia and New Zealand can connect a group at their destination, where they also pick up specialist guides. 'Basically, the role of our hostess is just to provide the support for our women,' Hayley says. Sisterhood's guests include widowed women used to travelling with their husbands, and women whose husbands have no interest in travelling. 'We've had feedback from ladies who have tried travelling outside of the women-only environment; they might travel with their sister and brother-in-law,' Hayley says. 'But the feedback is they feel like the third wheel. And unfortunately, single women no matter what age can be targeted by unwanted attention.' Hayley says her tour prices are higher because they include airfares and many meals and activities. Sisterhood also offers theatre nights, morning teas and winery visits in Melbourne for travellers to keep in touch. 'We are a business and obviously we make money but a lot of it for us is more about the community,' Hayley says. 'We want to bring women together in any capacity to reconnect through the joys of travel and new friendships.' fact file
Global News
23-05-2025
- Business
- Global News
Federal government faces human rights complaint over Indigenous procurement system
The federal government is facing a human rights complaint over a multi-billion dollar program meant to set aside government work for First Nations, Métis and Inuit companies, Global News has learned. The Algonquin Anishinabeg Nation Tribal Council is appealing to the Canadian Human Rights Commission to weigh in on the Indigenous Business Directory (IBD), a list of purportedly Indigenous-owned and -operated companies. The IBD is where federal departments and agencies go to find Indigenous companies from which to purchase products and services, with an eye to meeting Ottawa's policy of at least five per cent of its procurement going to First Nations, Métis and Inuit companies. Global News, in partnership with the First Nations University of Canada, revealed in August that Ottawa has awarded billions in federal work to companies without always requiring bidders to prove they First Nations, Inuit or Métis. Story continues below advertisement The tribal council's complaint, obtained by Global News, alleges Indigenous Services Canada — which oversees what businesses are eligible to be listed on the IBD — has overseen a 'systemically discriminatory' system that allows non-Indigenous companies to access those federal contracts. Get breaking National news For news impacting Canada and around the world, sign up for breaking news alerts delivered directly to you when they happen. Sign up for breaking National newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy 'Indigenous identity fraud by 'pretendians' is not rare in Canada,' the complaint reads. 'Naturally pretendians are attracted to take advantage of the (program) and its lucrative contracts, and (the government) knows this.' Global News requested comment from Indigenous Services Canada on Wednesday. The department could not answer Global's questions as of deadline. The effort to build up Indigenous business stretches back to the Jean Chretien era with the Procurement Strategy for Indigenous Businesses, a program that aimed to grant First Nations, Inuit and Métis companies access to federal contracting work. The idea was to use taxpayer money the government planned to spend anyway to grant opportunities to Indigenous communities – and at the same time, boost those businesses' access to the lucrative world of federal procurement. It was kept in place by the Conservatives under Stephen Harper, and then boosted under Justin Trudeau's Liberal government – requiring departments and agencies to procure at least five per cent of what they needed from Indigenous-led companies. The work is now worth roughly $1.6 billion annually. Story continues below advertisement But a months-long Global News investigation showed that Indigenous Services Canada relied on an honour system for companies to attest that they were at least 51 per cent Indigenous owned and controlled. The eligibility rules were tightened in 2022, but the investigation found multiple companies whose Indigenous roots were difficult to identify. After Global News' reporting, Canada's Auditor General opened an investigation into the PSIB in December. Its office said to expect the results in the fall of 2026. 'What is clear is that (Public Services and Procurement Canada) depends on (Indigenous Services Canada) to verify Indigenous eligibility, but ISC does that job very negligently, and this is where the discrimination begins,' the complaint reads. 'Because when ISC fails to exercise due diligence over who is Indigenous and eligible for the IBD and who is not, then the central premise of the (IBD) – that 'Indigenous persons have at least 51 per cent ownership and control' in the contracting business – becomes meaningless.'
