Ngāi Tahu celebrates continued growth

Published: Thu 25 Oct 2018 01:54 PM
Strong focus on sustainability as Ngāi Tahu celebrates continued growth
South Island iwi Ngāi Tahu has reported another solid financial performance with a net profit of $150m for the financial year ended 30 June 2018.
The profit generated by Ngāi Tahu Holdings, the commercial arm of the iwi, resulted in a direct distribution of $61m to the Office of Te Rūnanga o Ngāi Tahu, which funds initiatives to support positive cultural, social, environmental and economic outcomes for Ngāi Tahu whānau.
Te Rūnanga o Ngāi Tahu Kaiwhakahaere Lisa Tumahai said she was delighted by the yearend result, and proud of the work put in across the different iwi business and governance entities throughout the year.
“This financial growth enables Te Rūnanga to build on the foundation of the past 20 years and continue to create initiatives that strengthen and empower our Ngāi Tahu whānau and communities,” said Mrs Tumahai.
“I’m equally impressed by the range of outcomes and milestones achieved across the Office in the past year.”
Whai Rawa, the iwi savings scheme, continues to grow both in membership and in managed funds. In the year ended 30 June 2018 the fund grew to $72.3m, an increase of nearly $10m on the previous year, with a membership of more than 25,000 Ngāi Tahu whānau.
“A particular highlight of 2017/18 was the growing engagement and connection with our whānau,” said Mrs Tumahai.
“With more than 60 per cent of whānau living outside of our takiwā, it is important that we continue to find meaningful ways for them to engage, wherever in the world they choose to live.”
More than 3000 whānau attended road shows held at 14 locations in the North Island and Australia and in November 2017 more than 5000 came together to celebrate whanaungatanga and Ngāi Tahutanga at Hui-ā-Iwi, the biennial cultural festival.
“As we look to the next 50 years we are firmly focused on enhancing the opportunities for our people and on protecting our natural environment. The mark we leave on the landscape is of crucial importance to whānau. The development of a climate change strategy and a Kaiwhakahaere advisory group for freshwater management signal our commitment to these issues and will provide the platform to engage with government and local authorities to ensure our voice is heard,” said Mrs Tumahai.
Te Rūnanga o Ngāi Tahu Group subsidiaries – Ngāi Tahu Seafood, Ngāi Tahu Tourism, Ngāi Tahu Property and Ngāi Tahu Farming – achieved good results for the 2017/18 financial year.
Ngāi Tahu Capital has experienced generally solid returns but was adversely affected by another challenging year for Watson & Son. A change in ownership structure means the honey business is now 100 per cent owned by Ngāi Tahu and the company has since been restructured to position it for future success.
Ngāi Tahu Holdings Board Chair Mark Tume said he is optimistic about the future. “While we are moving from a period of strong growth into a period where we can expect some headwinds, we have a strong balance sheet that sees us entering this next stage of our journey in good shape.
“In line with the expectations of Te Rūnanga we are working hard to demonstrate a real commitment to kaitiakitanga and ensure that Ngāi Tahu values can be seen in action through all our business operations.
“We were founding signatories to the Climate Leaders Coalition established earlier this year, and are currently piloting the Ngāi Tahu Executive Leadership Programme in partnership with Victoria University and the Melbourne Business School to ensure our values and cultural dimensions align with the best of leadership practice,” said Mr Tume.
Mrs Tumahai said that above all, Te Rūnanga o Ngāi Tahu is focused on ensuring that the benefits of Te Kerēme continue to be invested wisely for the prosperity of future generations of Ngāi Tahu whānau – mō tātou, ā, mō kā uri ā muri ake nei. [ENDS]

Next in Business, Science, and Tech

Funding For R&D; In New Zealand – Expert Reaction
By: Science Media Centre
COVID-19: NZ Joins Global Initiative Keeping Ports Open And Freight Moving
By: Maritime New Zealand
National Backs Businesses With $10k JobStart
By: New Zealand National Party
Government Exempts Some Home Improvements From Costly Consents
By: New Zealand Government
The New Zealand Herald Named Newspaper Of The Year, Website Of The Year At Voyager Media Awards
By: New Zealand Media and Entertainment
ASB Takes The Lead Again With New Low Home Loan Interest Rate
By: ASB Bank
The Problems With Testing And Case Statistics For Covid-19
By: Nathan Hoturoa Gray
Fletcher Building to lay off 1000 staff in New Zealand
Driving prompt payments to small businesses
By: New Zealand Government
On Why We Should Legally Protect The Right To Work From Home
By: Gordon Campbell
Supporting Kiwi businesses to resolve rent disputes
By: New Zealand Government
Understanding 5G Concerns – Expert Q&A;
By: Science Media Centre
Record Monthly Surplus As Imports Dive
By: Statistics New Zealand
Bar reopening night 'much, much quieter'
New Zealand’s population passes 5 million
By: Statistics New Zealand
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media