June 29, 2016
Maori authority assets hit $15 billion
A Statistics New Zealand survey of more than 1000 Maori trusts and authorities has found the value of their assets grew 15.5 percent or $2 billion in 2014 to hit a total of $15 billion.
That’s on top of a 13.7 percent increase the previous year.
Jason Attewell, the manager of the Tatauranga Umanga Maori survey, says Maori business and economic development is an important driver of the overall New Zealand economy.
While the authorities maintain their strong base in land and primary assets, much of the growth was in other assets such as goodwill, trademarks, shares in associated and subsidiary companies, and long-term bonds and loans.
David Taipari, the chair of Auckland’s Independent Maori Statutory Board, says the that change can be seen in an increase in Maori owned businesses in Auckland, especially in the infrastructure and IT sectors.
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