Treaty Settlement Minister Andrew Little announced the creation of a new Ngāpuhi Crown Investment Fund.
Treaty Negotiations Minister Andrew Little announced the creation of a new $ 150 million Crown Investment Fund to cover Ngabuhi Treaty negotiations.
Little said that it would be run by the Crown in favor of Ngāpuhi.
The purpose is to achieve a return on funds while negotiations are ongoing and delayed with Hapo Ewe North.
Once negotiations are complete, hapū can “deal with the fund any way they want.”
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Ricky Wilson / Staff
Andrew Little announces a $ 150 million investment fund for Nga Buhi
It is not the total value of the settlement, he said.
“But it is part of that and it only means that although there will be more delay in reaching an agreement, ultimately Ngāpuhi will not lose the benefit of having some value invested, generating new value and more … in the interest of Ngāpuhi.”
This comes after the government announced in December 2019 that it would negotiate with the Habu tribes, or sub-tribes, from Ewe rather than a collective agreement for the entire tribe.
This change came, depending on the wishes of some, after negotiations had already lasted for about 10 years.
Little said that “rallies are gathering” within the tribe to start negotiations within the next few months.
“I think the truth, as I learned through my engagement with Ngāpuhi, is that doing it right is very vital, and respecting hapū rangatiratanga.”
Little said that 25 percent of the income the fund generates each year will go to things like scholarships, hapū development and marae improvements within iwi.
“But the main idea is to accumulate the value – so 75 percent will be reinvested through the fund.”
The chair of the fund will be Sir Brian Roche, who is chief negotiator for the Crown with Njabohi, and other directors include Rebecca Evans, Lindsay Faithfull and Sarah Petersen.
More is coming.