3 Jul 2012

Ngati Apa to carefully invest Waitangi money

6:30 am on 3 July 2012

Ngati Apa Developments chairman Toko Kapea says his Marton iwi is watching carefully how other tribes are investing their Waitangi Treaty settlement money, following the failed investments of a northern Taranaki iwi Ngati Tama.

Last year the Crown paid Ngati Apa $15 million in cash, plus ownership of several forest blocks.

The iwi is using $2 million dollars from the settlement to buy shares in a Whanganui shopping centre - Trafalgar Square.

Mr Kapea says he feels for Ngati Tama which lost nearly $19.8 million of its settlement money through a number of investments, including an Australian software company that went into liquidation.

He says Ngati Apa is learning from Ngati Tama's mistakes and will try to help the iwi re- build its financial base.

Toko Kapea says without taking an aggressive or condescending approach, he wants his iwi to put a sound financial plan in place so it does not lose money on any investments.