Ngai Tahu balance sheet benefits marae communities
Updated at 7:12 pm on 27 September 2012
Ngai Tahu marae-based communities are in line for more money - after the tribe's commercial arms turned in strong financial results.
The South Island iwi's Holdings Corporation has delivered a net profit of almost $100 million - a big increase on last year's figure of just under $16 million.
With more cash flowing into its property, tourism and seafood divisions Te Runanga o Ngai Tahu is spreading its wealth around the regions.
The kaiwhakahaere or chair of the iwi, Mark Solomon, says tribal descendants are the big winners.
He says direct distribution to Ngai Tahu people over the past year has been about $14.5 million.
Mr Solomon says funding has increased to the 18 Papatipu Runanga or marae-based communities - from $194,000 to $240,000 a year each.
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