Waking A Sleeping Giant

nā Adrienne Rewi.

Taranaki's Parininihi ki Waitotara Incorporation (PKW) has developed from being a passive land owner in 1976 to becoming a highly successful, award-winning farming operation.

PKW manages the interests of around 8500 shareholders, who are descendants of Taranaki tribes affected by wrongful land confiscation in 1865.

It derives its income from a variety of sources including rental payments on perpetual leases on 18,000 hectares of productive farmland, milk production, grazing rental, crayfish quota and processing and commercial property rental. It also has a dry stock unit and owns 13 dairy farms milking approximately 7000 cows on more than 2000ha. In 2006 it was named Supreme Winner of the Ahuwhenua Trophy in the Māori Dairy Excellence Awards.

Chairman Jamie Tuuta (Ngāti Mutunga, Ngāti Tama, Taranaki) says PKW, which last year had a book value of $225 million, has gone through two significant stages in its development so far.

"The first stage, from 1976 to1997 could be broadly described as establishment and administration. During this period PKW was highly politically focussed and determined to change the legal frameworks that stymied its development. This work resulted in the landmark changes encapsulated in the Māori Reserved Lands Amendment Act 1997.

"The second stage of development (1997-2008) marked the emergence of a more commercially focused approach by the Committee of management – most clearly demonstrated in the development of PKW Farms and PKW Investments," he says.

As a result of that commercial drive, PKW successfully developed its dairy farming operations and became involved in investments. The investment side has had its problems with a Queensland property investment last year costing the incorporation $31 million, and resulting in board resignations."

I suggest that the incorporation is now moving into a third stage of its development, where it will focus on the consolidation of current core business and balancing sustainable growth with profitability," says Tuuta.

He says there is benefit in iwi collaboration, especially in the areas of research and development and increasing organisational capacity."

We are currently partnering with Wakatū Incorporation to manage our crayfish quota interests through a company called PKW-Wakatū and Port Nicholson Fisheries, for instance.

"However, not every iwi has networks or specific sector capability and expertise. It is more about how we share experience, information, networks and opportunities. Iwi collaboration can happen at multiple levels – political lobbying, policy development, legislative reform and investment/business." he says..

"Educating and developing appropriate leaders, talent and managers at all levels of our society will be critical for our future, as well as remembering who we are as Māori and why our particular world view has value."

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