Iwi keen to own shares in Napier port
|18 Jul 2019 08:51 AM|
Hawkes Bay iwi and hapū are lining up to buy shares in the Port of Napier.
The Hawkes Bay Regional Council hopes to raise up to $234 million from selling 45 percent of the port company, and to use some of the money to build a new wharf.
Ngāti Kahungunu Inc chair Ngahiwi Tomoana says all of the iwi's hapū groups have settled and are keen to add port shares to their portfolios.
Collectively the iwi wants 25 percent, but the council does not want any shareholder to have more than 10 percent.
Iwi from outside the region are also keen.
"Twenty six other iwi have expressed interest as well, so there is a whole confidence within the Māori sector about investing in these national strategic amenities and this is an example of how everyone is now feeling strength in numbers rather than leaving it for individuals to go in, so there is a kotahitanga now around investment I have never seen before," Mr Tomoana says.Copyright © 2019, UMA Broadcasting Ltd: www.waateanews.com