Minister for Treaty of Waitangi Negotiations Andrew Little has launched Ngāpuhi Investment Fund Limited, trading as Tupu Tonu. It is a significant step in the Crown’s efforts to restore its relationship with the iwi and its commitment to help ngā hapū meet their economic aspirations for the future.
The ability to engage in meaningful negotiations for commercial redress is an important part of working to restore the Crown’s relationship with ngā hapū o Ngāpuhi. Tupu Tonu, with initial capital of $150 million, is a Crown company that will acquire and grow a portfolio of assets that will be offered by the Crown in negotiations with ngā hapū o Ngāpuhi.
The Fund can invest in a wide variety of New Zealand assets, including land-based businesses, as well as standard financial assets to help the Fund grow. Investment decisions will be made by the Fund itself, according to its kaupapa and investment strategy, which will be developed by the independent board.
A part of the Fund’s annual revenue will be used for grants to ngā hapū me ngā uri o Ngāpuhi.
You can read more about the Fund on the Tupu Tonu website, including how to propose potential investments.
The Minister also announced the Fund’s Board members, who are responsible for developing the kaupapa and investment strategy of the Fund. The Board members have been appointed for their collective experience and knowledge of fund management and investment, governance, business, and the cultural and economic context of Ngāpuhi and Te Tai Tokerau.
The Board members are Sir Brian Roche (Establishment Chair), Deputy Chair Ripeka Evans (Ngāpuhi, Ngāti Porou, Te Aupōuri, Ngāti Kahu), Lindsay Faithfull (Ngāpuhi), Sarah Petersen, and Geoff Taylor.
Recent updates
On 20 April 2022, shareholding Ministers set out their expectations for Tupu Tonu for 2022 / 2023:
Confirmation of Te Whakaaetanga Alliance as a hapū grouping — December 2020
On 21 December 2020, the Minister for Treaty of Waitangi Negotiations confirmed Te Whakaaetanga Alliance as a hapū grouping. The next step is for Te Whakaaetanga Alliance to develop a mandate strategy.
A mandate strategy sets out the process by which the claimant community chooses a representative entity and gives them authority to enter into discussions and agreements with the Crown on their behalf.
Te Arawhiti will work with Te Whakaaetanga Alliance to develop a mandate strategy.
If any hapū or hapū grouping wishes to have more information with regards to this process, please email ngapuhifeedback@tearawhiti.govt.nz.
Letter from Minister Little on establishment of investment fund — 18 August 2020
On 18 August 2020, the Minister for Treaty of Waitangi Negotiations Andrew Little published an open letter to ngā hapū o Ngāpuhi with an update on the establishment of an investment fund. The intention to explore the idea of a fund was announced by the Minister for Māori Development and Minister Little in December 2019.
The Crown is establishing a Fund, which will acquire a diverse range of assets that the Crown can make available in future negotiations with ngā hapū o Ngāpuhi. Ngā hapū o Ngāpuhi will have the option, in future negotiations, of purchasing the Fund or its assets.
By acquiring and growing assets before negotiations begin, the Fund will help ensure ngā hapū o Ngāpuhi do not miss out on assets such as land that may become available while they are doing the necessary work of developing mandates.
The Crown will own the Fund, which will operate at arm’s length from ministers.
The Crown is working through the establishment of the Fund. It is being assisted by an Establishment Advisory Board of experts, who have been contracted to provide advice on how the Fund will operate. Decisions about specific purchases will be made by the Fund independently once it has been established.
Hon Andrew Little has called for expressions of interest from potential directors of the Fund once it is up and running. Candidates should have strong business and fund management experience, and the Minister is also interested in hearing from candidates who also have knowledge of Northland and ngā hapū o Ngāpuhi, including those with Ngāpuhi whakapapa. In order to avoid conflicts of interest, candidates should not be involved directly in future negotiations with the Crown.
In December 2019 Minister for Treaty of Waitangi Negotiations and the Minister for Māori Development invited mandate proposals from regional hapū groupings to negotiate cultural redress and mandate proposals to negotiate collective matters. The Minister for Treaty of Waitangi Negotiations and the Minister for Māori Development have now agreed regional hapū groupings can develop mandate proposals to negotiate the settlement of all their historical Treaty of Waitangi claims, consistent with Crown mandate policy.
The Crown’s expectation is that issues common to regional hapū groups will be discussed collectively.
Funding to develop mandate proposals — August 2020
In August 2020, the Minister for Treaty of Waitangi Negotiations agreed to expand the scope of funding to develop mandate proposals to cover all reasonable costs involved.
Regions have now been allocated a funding pool which covers a broad range of activities to develop mandate proposals which can include, but is not limited to, capability development (holding seminars, or training), communications and project management. For information about funding please email ngapuhifeedback@tearawhiti.govt.nz.
Funding is still available to support hui for hapū groupings who want to hui or wānanga to discuss developing a mandate proposal.
The Minister for Treaty of Waitangi Negotiations is committed to engaging with ngā hapū o Ngāpuhi on He Whakaputanga me Te Tiriti o Waitangi. Before substantive discussions commence the Crown would like to work with regional hapū groupings to co-design the process for engagement. Te Arawhiti will be in touch in the future about this.
Further information and support
Please email ngapuhifeedback@tearawhiti.govt.nz if you would like further information or support in the development of mandate proposals and funding applications.
