Capital Markets: Ruakura joint venture showcases growth of Māori economy
The timing of a landmark deal between Tainui and global investment giant Brookfield couldn't have been sweeter.
A month after the Government promoted the benefits of investing in Māori businesses, the deal was announced between Tainui Group Holdings (TGH) and Brookfield Asset Management (Brookfield), a long-term joint venture (JV) to
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Scoop
2 hours ago
- Scoop
New Zealand Food And Fibre Exports On Track To Break New Records
Minister of Agriculture Minister of Forestry Farmers, growers, foresters, fishers and primary processors are driving New Zealand's economic recovery with export revenue on track to surpass $60 billion for the first time, Agriculture and Forestry Minister Todd McClay announced today at Fieldays. 'The latest Situation and Outlook for Primary Industries (SOPI) report forecasts export earnings of $59.9 billion for the year ending 30 June 2025, $3 billion higher than projected in December. This momentum is expected to continue, with exports reaching $65.7 billion by 2029,' Mr McClay says. 'These figures reflect the hard work and resilience of the hard working men and women of provincial New Zealand. 'Strong global demand and healthy prices across key markets are positioning our high-quality, safe and sustainable food and fibre exports for record growth.' Growth highlights include: dairy export revenue lifting 16 per cent to reach a record $27 billion meat and wool export revenue increasing 8 per cent to $12.3 billion horticulture export revenue growing by an impressive 19 per cent reaching $8.5 billion forestry export revenue jumping 9 per cent to $6.3 billion Seafood export revenue lifting 2 per cent to $2.2 billion. 'The numbers speak for themselves, but the Government remains laser-focused on doubling the value of exports in 10 years, driving higher farm and forest gate returns, and backing the long-term capability, resilience, and health of rural New Zealand,' Mr McClay says. 'We're investing heavily to deliver tools and technology to farmers and growers to tackle agricultural emissions with more than $400 million in continuing funding over the next four years and making targeted reforms to support farmer and grower success. 'Through the Budget, we launched the new $246 million Primary Sector Growth Fund (PSGF) to boost on-farm productivity and resilience. 'Our trade work continues at pace to open doors for Kiwi exporters, and our new Investment Boost tax incentive will encourage businesses to invest, be more competitive, grow the economy, and lift wages. 'When rural New Zealand does well, the whole country benefits,' Mr McClay says. 'That's why we're making sure our Primary Sector have the tools and support they need to deliver long-term economic growth and regional prosperity for all New Zealanders.'
Scoop
2 hours ago
- Scoop
Wool Carpets For State Houses A Win-Win
Minister for Economic Growth Hon Mark Patterson Associate Agriculture Minister The return of wool carpets to state homes has been welcomed by Economic Growth Minister Nicola Willis and Associate Agriculture Minister Mark Patterson. State housing agency Kāinga Ora announced today that from next month, a new supplier agreement will deliver woollen carpets for the fit-out of new state homes. 'The decision is great news for sheep farmers, and all the New Zealanders whose jobs and incomes are tied to the fortunes of our world-leading wool industry. 'The Government wants wool producers to have more opportunities like this, which is why in March we issued a directive to 130 Government agencies requiring them to purchase woollen products for building construction and refurbishment, wherever practical and appropriate. 'Kāinga Ora's new supplier agreement was made possible because the agency chose to re-open an initially nylon-only carpet tender and give wool a chance to compete. 'I'm told woollen carpet manufacturers responded very strongly to that opportunity and that the new carpet supply agreements come with no additional cost. 'The message is clear: When wool was put back on the table it more than held its own, delivering value for taxpayers and a win for sheep farmers. 'This proves the value of the Government's moves to give wool a fair shot in publicly funded procurement decisions. 'We have directed that from 1 July all public entities must use woollen fibres, where practical and appropriate, in government buildings. The new policy, announced in April, directs agencies to identify opportunities to use woollen products, and to properly consider a range of factors in procurement including whole-of-life cost, sustainability and health benefits. 'We're leveraging government spending to back the wool industry and the New Zealand economy. I hope private businesses will follow our lead.' Mark Patterson says the move continues to deliver on a New Zealand First and National Party coalition agreement to prefer the use of woollen fibres in government buildings. 'Woollen fibres create safer, healthier and more sustainable living environments for families. 'We know farmers will share our enthusiasm about this announcement. It is another example of us doing our bit. The Government is determined to help lift the fortunes of the strong wool sector in supporting our sheep farmers' Mr Patterson says. Notes The total value of the new Kāinga Ora contract is commercially sensitive and so can't be disclosed. Kāinga Ora is expected to fit out about 4500 homes in the next three years. Some contracts for carpet in homes have already been let, but under the new supply agreement, newly contracted fit-outs will be met through the wool-carpet supply contract. Where nylon carpet has already been installed in existing homes Kainga Ora will continue to use nylon carpet for single room or smaller patch repairs.
NZ Herald
3 hours ago
- NZ Herald
New Zealand primary exports set to hit record $60b – Ministry for Primary Industries
New Zealand's primary exports are on track to reach $60 billion for the first time, the Government's twice-yearly situation outlook says. The Situation and Outlook for Primary Industries (Sopi) report forecasts export earnings will hit $59.9b in the June 2025 year – $3b higher than was projected in December. Agriculture
