Investment Fund a Step Towards Ngā Hapū o Ngāpuhi’s Future Prosperity
An Investment Fund established for the benefit of ngā hapū o Ngāpuhi is a significant step in the Crown’s efforts to restore its relationship with the iwi and its commitment to help ngā hapū meet their economic aspirations for the future, Treaty of Waitangi Negotiations Minister Andrew Little announced today.
“The ability to engage in meaningful negotiations for commercial redress is an important part of restoring the Crown’s relationship with ngā hapū o Ngāpuhi. This important work will sit alongside our continued work on restoring all aspects of our relationships with ngā hapū o Ngāpuhi, including mandate issues and having in depth discussions around issues such as He Whakaputanga me te Tiriti,” Andrew Little said.
Ngāpuhi Investment Fund Limited, with initial capital of $150 million, is a new Crown company that will acquire and grow a portfolio of assets that can be offered by the Crown in negotiations with ngā hapū o Ngāpuhi.
“We have established the Fund so that the Crown has more options to put on the table for ngā hapū o Ngāpuhi in future negotiations. It will help ensure that ngā hapū do not miss out on opportunities for investment while they work towards negotiations.”
Sir Brian Roche has been appointed as the Establishment Chair of Ngāpuhi Investment Fund Limited. Ripeka Evans (Ngāpuhi, Ngāti Porou, Te Aupōuri, Ngāti Kahu) is Deputy Chair, with Lindsay Faithfull (Ngāpuhi), Sarah Petersen and Geoff Taylor as the other directors.
“This is a very significant development. The scale of the Fund will allow it to build a base of assets throughout the rohe and beyond that may not otherwise be available for the Crown to offer, and provides a boost in investment for Te Tai Tokerau,” Andrew Little said.
The Fund can invest in a wide variety of New Zealand assets, including land-based businesses, as well as standard financial assets to help the Fund grow. Investment decisions will be made by the Fund itself, according to its kaupapa and investment strategy, which will be developed by the independent board. The Fund will operate as “Tupu Tonu” - in simple terms this translates as ‘prosperity in perpetuity.’
A part of its annual revenue will be used for grants to ngā hapū me ngā uri o Ngāpuhi for social development and building governance capability.
“The Fund sends a clear signal of our intention to seek to meet the aspirations of ngā hapū o Ngāpuhi for redress for their people and their rohe, when they are ready,” Andrew Little said.
More information can be found at www.tuputonu.co.nz