WHAI RAWA STRATEGY
2022 - 2027
SUMMARY DOCUMENT
Aronga | Purpose
The purpose of this strategy is to guide Te Korowai Group into investments that will provide a social, cultural, environmental as well as, economic return for the benefit of Ngāruahine. Pupuke Te Hihiri is aligned to our overarching strategy Ka Ora Taku Toa and is complimented by a suite of strategies that are essential for guiding our core work, intentionally creating the greatest impact and measurable value for our people.
TE TOI O NGĀ RANGI
Whai Rawa, Impact Investments - What is it?
Te Korowai Group has a responsibility to grow Treaty Settlement assets for the benefit of ngā uri o Ngāruahine. To this end, impact investments must demonstrate a social, cultural, environmental and economic benefit for Ngāruahine.
Whai Rawa and Whai Hua are often used interchangeably to reflect positive outcomes. In the Pupuke te Hihiri Strategy, these terms are used to form the two outcome categories to describe; social, cultural and environmental returns, and economic returns respectively. Whai Rawa is used in this strategy to describe impact investments mahi generally.
Outcomes
Toi o Ngā
Strategic Alignment
This diagram summarises the suite of strategies that inform and complement Pupuke te Hihiri:
Strategic Drivers
The
The phrase Pupuke te Hihiri is from the karakia Matua te Kore and refers to a surge of energy that leads to the awakening of thought and knowledge. In the context of our overarching strategy, Ka Ora Taku Toa, is to recognise potentiality and its materialisation for Ngāruahine under our Te Kawa Whanakeora strategic pou.
Rautaki Matauraura
Kawa Whanakeora Pou
Te Ara Toiroa: Ngāruahine Procurement Strategy Pupuke te Hihiri: Whai Rawa Strategy
Pupuke Te Hihiri
Te
Rangi Whai Hua Social, cultural and environmental returns Whai Rawa Economic returns
Ka Ora Taku Toa Te Korowai Group Strategy 2021-26
Te
Te
TE KEOKEOTANGA ASSET CATEGORIES
Under Pupuke te Hihiri, there are a range of Whai Rawa asset types.
Measuring Value
Unless we change the way we measure value and benefits to our Iwi, there will be no incentive to change the western approach to investment and procurement. Pupuke te Hihiri strategy includes a framework to measure value for our Iwi in our financial reporting. This drives governance and management decision making when it comes to the development and delivery of whai rawa investments.
• Whai Hua ratio, measures the proportion of iwi value derived from our profit and loss sheet Whai hua ratio = profit + expenses under Te Ara Toiroa / Income
• Te Ara Toiroa ratio, measures the proportion of Ngāruahine owned goods and services against total expenses
Te Ara Toiroa ratio = Expenses under Te Ara Toiroa / Total expenses
• Pupuke te Hihiri ratio, measures the proportion of the Group asset base that contributes to Whai Hua as well as Whai Rawa benefits
Pupuke te Hihiri ratio = impact investments/ total asset base
Group Distribution Framework
The driver for Pupuke te Hihiri is the social, cultural and economic return on investment. Performance is measured by outcomes, not just profit. Profit is instead an enabler for growth and investment into further Pupuke te Hihiri aligned projects.
Kīwai Mauī o Ngāruahine Commercial Assets
Te Kīwai Mauī o Ngāruahine is the Group’s commercial entity that is focused on growing the majority of the Group’s asset base and derive a dividend to support Group operations and charitable activities.
The diagram above describes how this is done.
Pupuke
Whai Rawa Assets
Whai
and
Asset Type Description Example Whai Rawa Whai Hua
Asset development Buy, develop and hold Potential civic infrustructure projects
Buy, develop and sell Potential housing projects
Funds Capital support for Ngāruahine enterprise in the form of equity or loans to be returned overtime on favourablle terms. This is seperate to grants.
Toitū te Whenua Hapū partnerships and Investment fund
• Capital improvements
• Revenue stream
• Ngāruahine jobs during development and ongoing services
• Profit from capital improvements
Placemaking, our stories are told throughout our rohe; on civic architecture, public spaces and roading
• Ngāruahine jobs during development Affordable housing for whānau
• Breakeven at a minimum
• Supports Ngāruahine led development
• A platform to promote Ngāruahine identity and culture
• Our natural environment is protected for generations to come
Business development These are operational businesses, but may also include associated assets
Te Rere o Kapuni Lodge
• Revenue stream
• Ngāruahine jobs during development and ongoing services A platform to promote Ngāruahine identity and culture
te Hihiri strategy focuses on
Rawa investments – this is focused on social, cultural
economic outcomes. The profit from these activities are reinvested into further Whai Rawa investments.
NGĀ WHENU MATUA
Priority Sectors
While there are several attractive opportunities that may cross our path day to day, it is important that we approach this mahi in a principled and sustainable way. The first five years will be focused and targeted on the establishment of key delivery capability and capacity and ‘low-hanging fruit’ that acts as pilot programmes and sets our framework for efficient and effective delivery.
Ngā Whenu:
Ahumahi Tāpoi
Tourism and hospitality (Te Rere o Kapuni Lodge)
Te Korowai, through Mauī, is redeveloping Te Rere o Kapuni Lodge (Lodge) from an outdated and rundown business into a high-end cultural tourism and hospitality enterprise. The Lodge will be the cornerstone to growing service offerings and supporting a sustainable and resilient local Ngāruahine supply chain.
Toitū te Whenua
Ngāruahine whenua reacquisition and development
Deferred Selection Properties
Te Korowai made the decision to develop a Ngāruahine whenua reacquisition strategy to support the whenua aspirations of Hapū that will see the 10 Deferred Selection Properties (DSP) under the Ngāruahine Treaty Settlement returned under hapū ownership.
Toitū te Whenua Fund
The purpose of the fund is to provide capital support for whenua development in a sustainable way. Hapū distributions used towards the SPV will be repurposed into this fund to further support Hapū development.
Poua te Pātūtū
Papakāinga and innovative housing development
Te Korowai Group are providing a range of support as part of a broader housing strategy. This whenu, as part of Pupuke te hihiri strategy, instead focuses on the Ngāruahine investment opportunities in housing.
Project Tūkau
Rohe infrastructure development
The word Tūkau came from the resistance movement at Parihaka through Te Whiti and Tohu with the central focus being on whenua.
• Tū - stand, establish, hold, convene
• Kau - unreservedly, totally, without any doubt Project Tūkau, therefore reflects the aspiration of our Iwi to be leaders in the investment and design of our civic landscape and infrastructure..
Te Mauri o te Hau, o te Rā, o te Wai Energy Sovereignty
Tupua te Mauri is a strategic pou of our Ka Ora Taku
Toa Strategy, that refers to our commitment and relationship with our Taiao. This concept has been used to derive the name of our priority whenu, which refers to wind, solar and hydro power and the connection to Pai Mārire in determining appropriate responses to events in the natural world. Tupua te Mauri, te mauri o te hau, te mauri o te rā, te mauri o te wai.
This dashboard provides a snapshot of forecasted returns of this strategy against the 2022 financial year state regarding whai rawa, impact investments.
5 YEAR FORECAST
Te Ara Toiroa, Ngāruahine Procurement
• 5 Pou whenua or large scale contemporary toi
• Several Ngāruahine and Aotea examples of contemporary architecture
• Ngāruahine and Aotea driven narratives in street and place naming
Hua
• Scoping and feasibility studies on several environmentally friendly investments
• Implementing a kaitiakitanga standard across all investment
• Up to 70 warm and dry whare for Ngāruahine whānau
Ngāruahine Taranaki Iwi Māori Other