Deloitte Top 200: Māori make moves into the weightless economy - Anthony Ruakere

Anthony Ruakere. Photo / Supplied

Opinion

THREE KEY FACTS:

• The Māori economy has doubled over the past nine years
• Wāhine kaipakihi are trailblazing in the business world
• Māori economy an example of astonishing resilience

Māori businesses continue to demonstrate that economic growth and community wellbeing needn’t be mutually exclusive pursuits.

In the face of housing shortages and New Zealand’s long-standing infrastructure deficit, the Māori economy is embracing new approaches that move beyond more traditional sectors into, among other things, the weightless economy.

For the tenth year running, the Deloitte Top 200 — Top 10 Māori index shines a light on innovative approaches and strategic investments made by leading Māori organisations. Valued at upwards of $70 billion (with some estimates putting it at $100 billion by 2030), the Māori economy is growing across asset classes including property, equities, and managed funds. Ngāi Tahu and Waikato-Tainui have unsurprisingly held the top spots on the Māori index since its inception in 2014 — Ngāi Tahu fuelled by its 2050 vision of a diverse and resilient asset base, and Waikato-Tainui with its rapidly expanding asset portfolio.

One such Waikato-Tainui investment is Ruakura Superhub. More than just infrastructure, it is a visionary project that can house 4500 families and strategically connect surrounding regions, while creating employment opportunities and integrating green community spaces. It is also a great example of how Government, iwi, and private enterprises can collaborate on significant projects for the benefit of all.

Similarly, Ngāti Whātua Ōrākei (ranked third on this year’s list) is demonstrating the value of well-conceived strategic partnerships by entering a groundbreaking arrangement with BNZ to finance housing for hapū members. Empowering its people to create sustainable, thriving communities on their own whenua, this partnership provides a pathway to home ownership that was not previously available to whānau living on Māori freehold land.

While many other developed countries face ageing populations, Census 2023 data shows that with one in three rangatahi identifying as Māori, relatively speaking, New Zealand’s population is Māori and young. So, while forestry, farming and fishing continue to be the bedrock of the Māori economy, significant future growth is in the weightless economy, featuring the likes of technology, creative, and other emerging sectors. This rapidly expanding marketplace is focused on sustainable growth, more resilient to shocks and less constrained by physical resources.

Despite the opportunities presented by these new sectors, to fully leverage the youthful Māori population and equip Aotearoa for a truly digital future, we must address the digital divide that sees gaps in internet access persist for Māori and rural communities despite substantial investment.

In a first for any Māori organisation and in a visible demonstration of proactive participation in the technology sector, Ngāti Toa Rangatira, ranked fourth on this year’s list, is helping to bridge the digital divide by acquiring a 33% stake in Oracle’s Team IM web-based information management platform.

As we look to the future, we know Māori organisations will play an important role in creating an inclusive and prosperous Aotearoa — for all. Led by the likes of Waikato-Tainui, Ngāi Tahu, Ngāti Whātua Ōrākei, and Ngāti Toa Rangatira, the adage that when Māori business succeeds, New Zealand thrives, is coming into much clearer focus.