Market Update: How women are leading the push to grow the $126b Maori economy – Fran O’Sullivan – Full Analysis

It’s one led by women impatient for real gains.

The Waitangi National Trust has an annual dinner at Waitangi.

This year’s was different.

The dinner was the brainchild of the Waitangi National Trust and Global Women of the North, chaired by Tania Simpson and former Prime Minister Dame Jenny Shipley, respectively.

It focused on the unifying message from Māori Queen Te Arikinui Kuini Nga wai hono i te, aptly put forward by Te Tari o Te Kīngitanga chairwoman Rukumoana Schaafhausen, that it was time to “bust some myths” – particularly that Māori were “still in the grievance phase”, when the focus is now very much on “investment, partnerships and innovation”.

Much of the initial publicity focused on the participation of tenor Andrew Grenon and mezzo-soprano Elisha Fa’i So’oialo, who performed a version of Puccini’s Nessun Dorma, fully translated into te reo Māori as part of this year’s Waitangi Day celebrations.

But that ignored the serious point.

The Māori economy is estimated to be worth $126 billion – created not through individual actions but relationships and kotahitanga (unity).

The Queen earlier launched the “Kotahitanga Fund”, a new multimillion-dollar Māori investment platform aimed to marshal collective Māori capital to support business, enterprise and development projects, at a Māori Economic Summit late last year. An initial $100 million seed capital is targeted.

The carefully chosen guest list for Wednesday evening’s early dinner was replete with many Northland business leaders, including those from regional authority entities soon to go through a shakeout, Māori trust identities and particularly women – at least 60 on the guest list by my rough count.

Schaafhausen read her speech. It resonated with business. While some of the themes were promoted at last year’s summit, presenting at Waitangi in front of an influential business gathering had a special cachet and will build momentum to get a focus on investment.

“It wasn’t a ‘sell sell’ for the fund – more aspirational and charting a new future,” one attendee said.

ANZ chair Scott St John hosted a table. So too, Westpac CEO Catherine McGrath.

Other corporate leaders on the guest list included Dame Therese Walsh (chair of Air New Zealand and ASB) and Jason Boyes (Infratil CEO), who both had speaking roles at the Māori Queen’s summit.

Said St John: “I thought all the speakers were great. But the consistent theme was aspiration with a forward-looking bias, harnessing assets both physical and human and compound returns over the long-term.

“So good to see and hear this, particularly in the north.

“Dame Jenny is clearly demonstrating leadership, along with Tania.

“Rukumoana is a special leader and the links to the Queen facilitating a focus on aspiration is important and uplifting.”

The occasion was not overly blessed by the attendance of politicians.

Prime Minister Christopher Luxon came for drinks. He previously told me he supported the Kīngitanga’s thrust for iwi to unify to create a bigger economic engine and to “have a go at doing it on their own”.

Cabinet ministers Louise Upston (Social Development and Employment) and Tama Potaka (Māori Crown Relations and Māori Development) were present.

Labour leader Chris Hipkins and Labour’s finance spokeswoman Barbara Edmonds took part; departing Labour MP Peeni Henare dropped in. Te Pāti Māori was represented by MP Hana-Rāwhiti Maipi-Clarke.

The only other MP on the guest list was Labour’s Willow Jean Prime in her role as a trustee of the Waitangi National trust.

From the hosts’ perspective, Global Women North’s Penny O’Hara, Jenni Prisk, Dame Marilyn Waring and Ripeka Evans were among those joining Shipley. Global Women chair Dame Therese Gattung and CEO Katie Bhreatnach also joined.

Among the trust’s female members were Belinda Ward, Dame Claudia Orange, Lisa Tumahai and Nicole Anderson.

The business audience would have been in no doubt that this was a women-led initiative.

A strong message was given that it was way past time to put more women on boards in the north – it was noted that five recent appointments were males only; Global Women could be the “wind beneath the wings” of development in the north as it developed the capabilities of up-and-coming women.

Compelling leadership all round.

The dinner was well-timed for many guests to make their way back to Kerikeri for that other well-noted occasion, New Zealand First MP Shane Jones’ annual Waitangi party.

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