While big companies are suffering as the global crisis strikes its slippery head in New Zealand, the serpent has yet to grasp the talons of Iwi businesses. Ngati Awa Group Holdings says it’s going to take good strategy to keep it that way.
The Maori economy is undergoing a time of transformation. According to figures from 2006, Maori- owned commercial assets are now worth $16.5 billion. This figure is set to continue growing as a number of large treaty settlements transfer millions of dollars of assets back to Iwi.
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“But converting capital into high growth assets over the next five to 10 years is going to mean a radical shift in Maori business. With nearly 52% of Maori commercial assets currently invested in primary industries, Wira says there is a need to consider a diverse range of investment options which add cash to iwi balance sheets.”
“The surprising thing about the current recession is that it presents us with an unprecedented assortment of options. “Some of us have around $20 million dollars each. If a number of iwi got together we could easily raise $150 million. Given the global economic crisis, there is an opportunity to buy a strategic asset in New Zealand right now.”
