Increased Waikato-Tainui Profits Passed to People
Increased Waikato-Tainui profits passed on to the people
Te Kaumaarua, the executive of Te Kauhanganui (the Waikato-Tainui tribal parliament) has approved nearly $2 million in grants to Waikato-Tainui members and marae.
Chairman, Kingi Porima, said today the grants totalled $1.85 million. That included increased education grants and a new marae fund. The money came from the profits of the tribe’s commercial arm Tainui Group Holdings (TGH). A second round of grants was expected later in the year.
He said the Board had allocated $600,000 for tertiary education scholarships, up from $460,000 distributed the previous year. The number of tribal members seeking scholarships this year has increased from 330 to 447.
“It is pleasing to see more of our people studying and it is satisfying that we are able to assist them,” he said.
Anyone who is on the Waikato-Tainui roll and who is undertaking tertiary studies can apply for a scholarship.
Mr Porima said $750,000 will again be distributed this year for marae capitalization and general maintenance work.
“However, in addition to that we have established new fund worth half a million dollars to assist marae with new building projects.
“This fund provides one-off grants of up to $100-thousand per marae,” Mr Porima said.
The executive has also approved a recommendation that the Waikato Raupatu Lands Trust buy a new vehicle for Te Arikinui, Dame Te Atairangikaahu. The details of the vehicle have yet to be finalised.
Mr Porima said that a decision had also been made in principle to commission a documentary on the history and culture of Tainui.
“The idea is to have it broadcast as well as distributed to all Waikato-Tainui marae and to kohanga reo, kura kaupapa and other schools in the region, he said.
Mr Porima said no decision has been made on how much money will be allocated to the project and who would make the documentary.