Advisory business TDB will release its latest report on post-settlement iwi and their most recent financial results. Video \ Jason Dorday
Iwi are becoming wealthier – so how much do they assist their members and what form does that support take?
The latest report from Wellington-headquartered consultants TDB Advisory examined distributions by some of Aotearoa’s largest iwi, quantifying the amount paid each year and what form thattakes.
It showed that 10 iwi distributed $135 million in the latest year to their members.
The report refers to the 10 iwi as post-settlement of their Treaty of Waitangi claims, even though Ngāpuhi has not settled with the Crown.
Phil Barry of TDB Advisory. Photo / Jason Dorday
Barry said: “We have included that iwi because of the size of its member base. It is the largest iwi by population. Even without a settlement, it’s still got $100 million of assets.”
Those 10 iwi represent roughly 70% of all post-settlement iwi assets nationally, which total around $12b.
Iwi entities typically operate with dual mandates: boosting their financial wealth in the longer term, therefore having an inter-generational focus, as well as striving to meet other social, cultural and environmental goals, TDB noted.
Educational improvements, cultural revitalisation and environmental kaitiakitanga (guardianship) are some of the hallmarks of that part of their mandate.
The TDB report covered the period from July 1, 2023 to June 30, 2024.
One of this country’s most successful iwi financially is also one of the most generous to its members.
Ngāi Tahu distributed $69m to its members in the 2024 year, TDB said. That went to Papatipu Rūnanga development, education, whai rawa, environmental initiatives, kaumātua support, cultural identity, disaster recovery, tribal advocacy and community engagement throughout the year.
Assets per member are now $19,000, down 20% from the 2022 peak.
Waikato-Tainui distributed $55.6m to its members in the 2024 year. It went to marae, educational and cultural grants, various tribal and community services.
Waikato-Tainui’s net assets per member reached $20,852 in 2024, reflecting a continued increase since 2020. The 2024 increase was driven by the 9% ($192m) rise in total assets, which more than offset the 4.5% growth in registered members, TDB’s report said.
Ngāti Whātua Ōrākei makes distributions via grants, scholarships and programmes for social, cultural and environmental ambitions of the hapū. Those totalled $9.4m in 2024, down from $10.6m in 2023. In addition, distributions of $2.6m were made to members to support its whānau savings and investment scheme, TDB found.
Raukawa made $1.1m distributions in five categories: marae, education, kuia koroua (female and male elder) wellbeing, discretionary activities and sport. In addition, it has further community-focused activity which is externally funded.
Ngāpuhi distributed $700,000 in benefits for the year, which included takiwā (regional) grants, scholarships, support for hapū development and koha (donations).
Ngāti Awa distributed $600,000 in annual benefits: education grants, hapū distributions and funding for cultural and environmental projects.
Tūhoe made $469,000 distributions in the 2024 financial year, including further investment in a hapū village development project and grants supporting kaumātua (elders) and education initiatives. A hapū village project began in 2023, with a $5m investment to create communal living and shared hapū resources. Tūhoe has committed an additional $14m in future funding to develop new villages and further build community.
Ngāti Toa distributed $400,000 in educational, sporting and marae grants to members during the year, the report found.
Ngāti Porou makes distributions through its cultural arm Toitu Ngāti Porou. Those declined from $1.6m in 2023 to $370,000 and were mainly marae grants, donations, koha and educational sponsorships.
Ngāti Pāhauwera made distributions of $200,000, primarily in marae and education grants and support to community groups.
Inside Te Arikinui Pullman Hotel at Auckland Airport when it opened in 2023. Photo / Jason Oxenham
Barry said the total distributions paid out have increased by around 35% in the last five years.
“There’s inevitably a tension in any enterprise between the short-term demands of shareholders for cash and the longer-term aspirations of the business for growth. That’s true for iwi as well as for non-iwi corporations,” he said.
Iwi have tended to take a long-term view and have wanted to retain earnings and invest for future growth. That has served them well, enabling them to grow their asset base and in turn to pay higher dividends in the future.
Ngāi Tahu, for example, used to pay dividends of around $10m annually in its early days and reinvested most of its profits.
During the last three decades, its assets have grown from around $200m to $2b and it’s now paying dividends averaging almost $100m per annum over the last three years.
Anne Gibson has been the Herald’s property editor for 25 years, written books and covered property extensively here and overseas.
