The continued growth of the Māori asset base has a positive impact for all of Aotearoa New Zealand, and flows to our regions.
As part of our celebration of Aotearoa New Zealand's largest businesses, Deloitte recognises 10 prominent Māori organisations, based on total assets.
This year's Deloitte Top 10 Māori Business Index has shown a significant growth in assets across the organisations included.
Collectively, the top 10 now represents over $6.7 billion in assets, up from $6.4 billion in 2018. There has been minimal change in each organisation's individual ranking on the index this year, with Ngāi Tahu again coming out on top, falling just shy of the $2 billion mark at $1.9 million in assets.
The most significant growth this year came from Rotorua-based Pukeroa Oruawhata, which experienced a 23.5 per cent increase in assets and saw it move from 8th to 7th in the rankings. This was followed by Ngāti Whātua ki Ōrākei (9.5 per cent increase) and Ngāti Toa Rangatira (8.9 per cent increase).
Much of this growth is due to property. Pukeroa is seeing the benefits of completing its Kmart, Whare Aroha and Haupapa House projects, which have helped contribute to its substantial growth this year and will continue to garner considerable and sustainable returns in coming years.
Property values have also contributed to the growth of Ngāti Whātua ki Ōrākei's asset base, as has its entry into the tourism market. Projects such as Koi Café on Bastion Point has provided a solid basis for Ngāti Whātua's tourism efforts, and the sector presents an exciting opportunity for the organisation moving forward.
Finally, Ngāi Tahu is also feeling the positive effects of the property market, alongside a new aquaculture project.
Due to Māori organisations' focus on sustainability and social responsibility, the continued growth of the entities on the Deloitte Top 10 Māori Business Index therefore has strong positive outcomes for Aotearoa New Zealand.
All of the entities on our index pursue social responsibility initiatives for the benefit of their communities. Ngāti Porou in East Cape and Gisborne provides a range of social and community services for its members with the aim of socially and culturally empowering people living in the area. This includes Whānau Oranga, a social services group that aims to lift the quality of life and socio-cultural status of its whānau members. It does this by social workers in schools, running restorative justice and tiaki tangata (prisoner reintegration) programmes, offering counselling and one-to-one budget advice, as well as a number of other projects.
Meanwhile Pukeroa Oruawhata Group's contributions to Rotorua were acknowledged at this year's Westpac's Business Excellence awards, where the Group received the Rotorua Lakes Council's Outstanding Contribution to Rotorua Award. This demonstrates how strong partnerships with Iwi strengthen our communities.
Many of our Top 200 organisations are designing their businesses around long-term strategies that incorporate social and environmental goals. The inclusion of our new Sustainable Business Leadership award at the Top 200 Awards reflects this.
One of the Government's key priorities is to build a productive, sustainable and inclusive economy in Aotearoa New Zealand.
We can only do this with strong Aotearoa New Zealand-owned companies that are experiencing significant growth — the companies in the Māori business index are doing this. The result is positive effects not just for the economy, but for society and Aotearoa New Zealand as a whole.