1 Oct 2012

Ngai Tahu eyes billion-dollar landmark

8:00 pm on 1 October 2012

Te Runanga o Ngai Tahu chair Mark Solomon says that 14 years on from the iwi's Treaty settlement, its assets are valued at $809 million.

In 1998 a settlement with the Government provided the iwi with compensation then valued at $170 million.

It also confirmed Ngai Tahu's ownership of pounamu, and granted the iwi certain rights to sites of tribal significance as well as a role in managing conservation estate resources within the tribe's boundaries.

The iwi has just posted a six-fold increase in net profit of nearly $100 million for the past year, with its fishing, tourism and property divisions all performing well and steering its accumulated capital towards the billion-dollar mark.

Mr Solomon says there is no room for complacency and the iwi's holding corporation wants to broaden its investment interests to safeguard the iwi if a downturn occurs in any one area of its portfolio.