Last week Tainui Group Holdings reported total assets of $738million. This comes from wisely stewarding the $170million they received in their 1995 Treaty settlement, plus their share of the fisheries settlement. Their success in growing the tribe’s wealth is a resounding answer to those prone to skepticism or even cynicism about the Treaty settlement process.
Certainly the process isn’t perfect and there have been mistakes along the way. However the example of the two major iwi who settled early – Tainui and Ngai Tahu – has shown that new futures can be forged, where in the past injustice has prevailed.
The Tainui Group Holdings Annual Report tells a story of economic development, wealth creation and expanding employment and educational opportunities for the tribe’s 64,000 members. It begins with a vision statement which looks…
“To lead Maori economic development, alongside other iwi-owned businesses, to benefit Maori and the whole community. To maximise wealth, provide long term returns and a consistent dividend to our Shareholder. We do this primarily through strategic acquisition, investment and development of property, and by investments in growth assets and fishing.”
Tainui are well on the way to achieving their goals. As they fulfill their vision we will all benefit.