$900,000 earmarked for Māori financial capability

As part of the government’s priority to build financial capability in New Zealand, $900,000 is being allocated to improving levels of financial capability among Māori, Commerce and Consumer Affairs Minister Paul Goldsmith announced today.

“During the past year the government has delivered a number of pilot programmes aimed at increasing financial capability among Māori.

“The allocation of additional funding will help deliver more financial education programmes for Māori and recognises the success of the pilot initiatives.

“The Commission for Financial Capability will manage the implementation of the programmes as the Crown entity responsible for helping all New Zealanders to become financially capable,” says Mr Goldsmith.

Māori Development Minister Te Ururoa Flavell says he welcomes the increase in funding to support whānau into financial self-sufficiency.

“The pilot programmes showed us that there is value in using marae and trusts to help build the financial skills and knowledge of iwi, hapū and whanau. 

“Offering this support to build financial skills gives more whānau pathways to new careers and greater opportunities to consider building their own enterprises.”

The funding increase is partly in response to recommendations made by Te Māngai Penapena Pūtea, a partner working group for the Financial Literacy and Savings strategy with He Kai Kei Aku Ringa (Māori-Crown Economic Growth Partnership).

Mr Flavell says one of the overarching aims of He Kai Kei Aku Ringa is to help lift Māori enterprise as a pathway to self-sufficiency, and that financial literacy is a priority for Whānau Ora.