16 Dec 2013

No alcohol and casino investments for Tauranga tribe

6:38 am on 16 December 2013

A Tauranga tribe says it will make only ethical investments with its Treaty settlement cash and will not put money into alcohol and gambling.

Ngai Te Rangi signed an agreement with the Crown on Saturday.

The settlement package includes apologies, an historical account of how its land was taken, the return of two islands, and financial redress of $29.5 million.

Ngai Te Rangi Runanga chair Charlie Tawhiao says some things are banned from their investment wish-list, including alcohol, gambling, and casinos.

He says none of those interests add positive value to his people's lives and it's a common sense decision not to foresake values of whanau and hapu solely to make money.

Mr Tawhiao says investment in land will play a large part in its investment portfolio, because whenua defines his people.