March 23, 2014
Trustee takes stake to support farm
The Maori Trustee hopes a Northland dairy conversion opened at the weekend will inspire other Maori landowners in the region.
Jame Tuuta says Te Tumu Paeroa has invested in the Rangihamama Farm, which will milk 500 cows on the 280 hectare block near Kaikohe.
He says the Omapere Rangihamama Trust is showing vision and determination.
Te Tumu Paeroa, the new Maori Trust Office, has come in as an equity partner because it sees itself as an enabler of Maori asset holders.
"The relationship that we have with Rangihamama is a commercial relationship, and that’s important because if we are to create enterprises such as this they need to be sustainable and one way for them to be sustainable is to ensure they are commercial in nature but at the same time reflective of the values of the owners," Mr Tuuta says.
After five years Omapere Rangihamama will be able to buy out Te Tumu Paeroa’s stake.
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