The government has announced a $150 million investment fund to help restore its relationship with Ngāpuhi and its commitment to help ngā hapū meet their economic aspirations for the future.
The announcement was made at Te Tii marae in Waitangi by Minister for Treaty of Waitangi Negotiations Andrew Little.
Ngāpuhi Investment Fund Limited, with an initial capital of $150m, is a new Crown company that will acquire and grow a portfolio of assets that can be offered by the Crown in negotiations with ngā hapū o Ngāpuhi.
Little said the fund was established so the Crown had more options to put on the table in future negotiations with ngā hapū o Ngāpuhi.
“The ability to engage in meaningful negotiations for commercial redress is an important part of restoring the Crown’s relationship with ngā hapū o Ngāpuhi. This important work will sit alongside our continued work on restoring all aspects of our relationships with ngā hapū o Ngāpuhi, including mandate issues and having in-depth discussions around issues such as He Whakaputanga me te Tiriti,” Little said.
Sir Brian Roche will be the chair of the entity, Ripeka Evans is deputy chair, with Lindsay Faithfull, Sarah Petersen and Geoff Taylor as the other directors.
The Crown has been in discussions with hapū around the North to find a way forward with their Treaty settlement which had come to a halt when the government no longer recognised the Tūhoronuku mandate.
“We have established the fund so that the Crown has more options to put on the table for ngā hapū o Ngāpuhi in future negotiations. It will help ensure that ngā hapū do not miss out on opportunities for investment while they work towards negotiations,” Little said.