Maori eye growth, forum told

Buddy Mikaere says there has been a sea change in Maori participation in the New Zealand economy. Photo/File

Tauranga last week hosted "Whakapiki Te Putea - Raising Maori investment capability," a two-day conference that drew 150 representatives of iwi and hapu from Nelson to Whangarei to hear nearly 30 investment and business experts discuss domestic and overseas investment options. The event was aimed at raising the knowledge base for Maori charged with investing Treaty Settlement funds.

"There has been a sea change in the New Zealand economy so far as Maori participation is concerned," said conference organiser Buddy Mikaere, who founded Tauranga's Maori Business Association when he returned from overseas in 2010.

"I have been trying to get more Maori involved in the local economy and then get things organised that will benefit the overall Maori community," he said. "If we can establish Tauranga as being a place where people can expect these kinds of activities to happen, that's got to be good for us here."

Maori Party co-leader Te Ururoa Flavell told delegates the aspiration to raise Maori investment capability was in direct response to the fact a number of iwi were approaching rapid resolution of their treaty claims. "We [also] have a very large number of trusts and incorporations who are seeking to diversify their activities."

Broadcaster Derek Fox, who chaired the conference, said the event came at a critical time. "The next step for [iwi] is firstly to decide how best to safeguard those settlements, and secondly how to grow them through adopting sensible investment strategies".

The conference explored a range of investment options in various sectors of the economy including infrastructure, horticulture, managed funds and energy. Mr Fox said one of the interesting points about the conference was the participation by successful Bay of Plenty outfits such as Port of Tauranga, Hukapak and TrustPower.

"This part of New Zealand is certainly trying hard to make every post a winner and having Maori investment support has got to be a bonus to the expansion of the local economy,"said Mr Fox.

Trustpower chief executive Vince Hawksworth outlined the company's current co-investment with South Island iwi Ngai Tahu in the proposed Ruataniwha Water Storage Scheme in the Hawkes Bay, which builds on its recent water storage experience involving Lake Coleridge in the South Island.

"Ruataniwha is effectively a public-private partnership between ourselves and Ngai Tahu as the private party, and the Crown irrigation company and Hawkes Bay Regional Council investment company as the public party. It's an important step in New Zealand's irrigation ambitions with respect to maximising the value of our agricultural sector in the Asia century." Ngai Tahu were progressive investors, he said.

Port of Tauranga chief executive Mark Cairns said the conference had been significant and useful for those who took part. "There are billions of dollars in Maori iwi hands now across the country. As a listed company the port would welcome additional Maori investment on to its shareholder base."

Investor Bruce Sheppard, a partner at Gilligan Sheppard Chartered Accountants, said the conference was an interesting contrast to one he had addressed in Wellington five years ago. "Five years ago the audience was older and more male," he said. "Maori are embracing youth and women, in fact probably more than the general population." Mr Sheppard said the people he had interacted with had struck him as discerning, aware of the issues confronting them, and aware of their people's expectations and of their responsibilities.

Aside from Kiwisaver and the New Zealand Pension Fund, Maori iwi investment groups made up one of the largest investment groups in the country, he said. "At a macro level I see that Maori will become a significant investment player."