Ngāi Tahu to reintroduce popular programmes after forced hiatus
Ngāi Tahu whānau will benefit from popular programmes, which are set to re-start on the back of sound financial results.
Te Rūnanga o Ngāi Tahu has released its annual report for the financial year ended June 2022, marking a second year of strong returns.
Ngāi Tahu Holdings has declared a net profit of $233m for the 2021-22 financial year.
Kaiwhakahaere Lisa Tumahai says the iwi is pleased with the result, which is just shy of last year’s record $240m profit.
“With our strong financial result, we can reintroduce several of our popular programmes that were paused in 2020 due to economic uncertainties, such as Te Pōkai Ao which introduces rangatahi to future focused opportunities in the digital world, and Manawa Tītī and Manawa Mui which support emerging tribal leaders.
“Ngāi Tahu Holdings has performed very well under challenging circumstances as we continue to strategically invest in assets which will support us as an iwi to ride out the difficult times, such as the ongoing impacts of the Covid-19 pandemic.
“Holdings have done extremely well to regrow some of the losses experienced in 2020, as the world adjusted to lockdowns, border closures, and the loss of international tourism.”
While Ngāi Tahu Holdings has distributed $58.6m of its net profit to Te Rūnanga o Ngāi Tahu in FY22, this will rise to $75.4m next year. The annual distribution funds a variety of mahi to support more than 76,000 Ngāi Tahu whānau.
Since Settlement, Te Rūnanga o Ngāi Tahu has invested $742m into tribal development, including grants for tertiary education and scholarships, language revitalisation, environmental projects, marae projects and many more programmes that advance the wellbeing of the Iwi.
“We know the increased cost of living, Covid lockdowns, and several significant flooding events have all put pressure on whānau budgets, so I’m pleased we could support 2,885 whānau with Pūtea Manaaki grants and deliver 5,000 Covid care packs to help māuiui whānau recover,” says Lisa Tumahai.
Ngāi Tahu Holdings Chair Mike Pohio says an overarching long-term focus has allowed the business units to navigate the current economic challenges and produce an outstanding result for whānau.
“Our kaimahi have faced volatile overseas markets in an uncertain and ongoing pandemic environment but have managed to maintain and grow their resilience and morale,” he says.
“Our focus remains on growing the pūtea and delivering a dividend for our whānau in the long-term. We are confident that despite the uncertainty in the wider market, Ngāi Tahu Holdings will remain in a resilient position as we move forward.”
Read the full annual report online.
- $58.6m distribution to Te Rūnanga o Ngāi Tahu
- Total net profit $233m
- Total investment into tribal development since Settlement $742m