The Future is Māori
Panel remarks delivered to the Institute of Directors New Zealand Leadership
Conference in Tāmaki Makaurau
On 6 May, 2021
By Christian Hawkesby, Assistant Governor and General Manager, Economics,
Financial Markets and Banking Group
Written with Evelyn Truong1
Mihimihi (greeting)
E nga mana, e nga reo. E nga karanga maha o te wa.
Tihei mauri ora!
(To all authorities, all voices, to the many chiefs gathered here. Behold the breath of
life! )
No Rangiora ahau
Ko Waimakariri te awa
Ko Aoraki te maunga
Kei Te Whanganui-a-Tara ahau e noho ana
Kei Te Pūtea Matua ahau e mahi ana
Ko Christian Hawkesby tōku ingoa
Tena koutou katoa
(Hello, my name is Christian Hawkesby: my home town is Rangiora; my river is the
Waimakariri; my mountain is Aoraki/Mt Cook; I reside in Wellington; and I work at the
Reserve Bank of New Zealand.)
E te rangatira, Kirsten Patterson (KP)
Karanga mai
Mihi mai
Whakatau mai
Tena koutou katoa
(Thank you to the leadership of the Institute of Directors who have called us here;
who have welcomed us here; who have looked after us here. Thank you very
much).
Whakatakinga (introduction)
As a member of the Institute of Directors, I was delighted to see the important topic
of Te Ōhanga Maori (the Maori Economy) on the agenda for this conference.
It will shape the role of directors in the years to come.
Today I want to talk about why an understanding of Te Ao Māori (the Māori world)
needs to be a core competency of all New Zealand directors. I'll do this in two ways:
2
• First, I want describe my own journey into Te Ao Māori. I'll highlight some of
the ongoing work at Te Pūtea Matua - The Reserve Bank, and reflect on how
we, as Pākeha, as Māori, as tauiwi, can improve our understanding of the
Māori economy.
• Second, I want to look beyond the Māori economy that exists today, and talk
about how Te Ao Māori is shaping the future of Aotearoa New Zealand.
When I reflect on my learning about Te Ao Māori to date, I'm reminded of how Māori
describe our emergence into the world of light.
Ka puta te ira tangata ki te whaiao, ki te ao mārama.
The phrase can refer both the first emergence of ngā Atua (the gods) into the light of
day, and also to the dissemination of knowledge, when Tāne (or Tāwhaki, according
to some iwi) returned from his trip to the highest of the heavens.
It describes a progression, first ki te whaiao - to the glimmer of dawn, or a moment
of recognition, and only then ki te ao mārama, into the full light of day.
I feel as though my understanding of Te Ōhanga Māori is somewhere along that
progression. I've seen the glimmer, and recognised its significance, but I know I have
a long way to go. It's a progression I am passionate about forging, and I'm fortunate
to be working alongside many others on this path. At Te Pūtea Matua, we are
working hard to gather new information to shed light on Te Ōhanga Māori, in the
hope that we'll eventually emerge ki te ao mārama.
Tihei mauri ora!
Ki te whaiao
Since joining in 2019, I've been privileged to be a part of the journey of Te Pūtea
Matua to learn about and embrace Te Ao Māori (the Māori world). Early last year, I
gave a speech at the Raising Māori Investment Capability Conference (Hawkesby
2020), where I described the three core elements of our Te Ao Māori Strategy
(Figure 1):
• Te reo me ngā tikanga - Culture - our effort to raise our collective knowledge
and understanding of Māori language and culture
• Whanaungatanga - Engagement - our efforts to strengthen the ties between
the Reserve Bank and Māori people, Iwi, Māori business, and the Māori world
• Kaitiakitanga - Policy - recognition of our responsibility as a policy maker and
as guardian of the financial system
Through this framework, we are working to gradually strengthen our understanding
of and interactions with Te Ao Māori.
Figure 1. Our Te Ao Māori approach
Source: Reserve Bank of New Zealand
But why is it so important that we at the Reserve Bank learn from and embrace Te
Ao Māori in our day to day work?
We are the central bank for all of Aotearoa. Māori people are our people. As kaitiaki
(guardians) of the financial system, we have a responsibility to ensure that Māori
have fair and equal access to the financial services they need - something our
system has not always delivered.
But it's not just about creating better outcomes for Māori.
Māori language, history, and culture shape our identity as a country. Our economy
has unique opportunities and challenges that set us apart from the rest of the world.
We need to understand and acknowledge these complexities to be better policy
makers for all of Aotearoa.
We know we still have a long way to go.
Luckily, we're not alone in our efforts to become a more diverse, inclusive, and
representative central bank. Like us, the global central banking community is
opening up to the importance of indigenous economies, and this means we've been
able to learn from and share our learnings with international colleagues through the
Central Bank Network for Indigenous Inclusion (Reserve Bank 2021).
Our mahi - Tikanga
We aren't experts by a long way, but we are making good progress on integrating
tikanga and Te Reo Māori into the daily life at Te Pūtea Matua.
To grow our understanding, in partnership with the northern iwi of Te Roroa, we tell
our story through the narrative of Tāne Mahuta. Just as Tāne stands firm as kaitiaki
of the ngahere (forest), so too must we strive to stand firm as kaitiaki of the financial
system (Reserve Bank 2018). Our kaupapa (agenda) is to maintain trust in our
organisation so that Tāne will not wilt and lose mana.
Our offices in Auckland and Wellington have been designed to reflect elements of
our Tāne Mahuta narrative, such as the forest, sky, and earth. Each day as we walk
through the security gates to enter our Wellington offices, Tāne Māhuta looks back at
us as a reminder of our responsibility (figure 2).
Figure 2: Tāne Mahuta in the Reserve Bank Lobby in Wellington
Source: Reserve Bank of New Zealand
Our mahi - Kaitiakitanga
One of our responsibilities as kaitiaki of the financial system is to remove barriers to
allow the Māori economy to thrive.
Our Te Moni Anamata - Future of Cash work programme (Reserve Bank of New
Zealand, n.d.) considers the barriers that may emerge from a contracting cash
system. It explores how access to physical currency supports financial inclusion for
our kaumatua (elders), enables koha (customary gifting), and helps support Māori
economies to thrive independently on ancestral lands, which may be further from our
main population centres and have less access to digital payments.
Looking forward, the next big challenge we face is understanding the factors that
limit Māori access to capital. A recent survey (BDO 2020) found that funding and
access to capital were two of the greatest challenges faced by Māori businesses. We
want to learn more about how factors like collective land ownership, lower home
ownership, and systematic bias might be affecting the rates at which Māori
businesses access debt and other forms of financing. You can read more about this
in our Financial Stability Report (Reserve Bank 2021), published yesterday.
We want to find ways to remove those barriers, so that te māra o Tāne (Tāne's
garden, our financial system) can flourish.
Our mahi - Whanaugatanga
We recognise that iwi are already working tirelessly to address the challenges Māori
face in the financial world.
Just last month we published a review of Māori financial services institutions and
arrangements (Mcleod and Lam, 2021). We discovered a broad range of innovative
solutions to increase financial inclusions, literacy, and security for Māori. Initiatives
such as collective marae insurance, and shared equity housing initiatives are helping
more and more Māori find success in the financial world.
So while we work to remove barriers, we know we need to do so in open dialogue
with Māori, to ensure that we are providing a system that serves all of our
communities.
Te Ōhanga Māori in Data
While we continue to grow our understanding of Te Ao Māori through the lens of Te
Reo me ngā tikanga, we are also working to build a more detailed view of the Māori
economy through data. In aid of this, we recently commissioned Berl to produce a
report that measures the Māori economy, Te Ōhanga Māori 2018, the Māori
Economy Report (Berl 2020).
We commissioned the report because we think it's important to shine a light on this
vital part of our economy, not just as a resource for ourselves, but also for local and
central government, iwi, community groups, and for you as directors. We recognise
that there are a lot of important collective decisions that need to be made, and we're
proud to be part of the conversation.
The Berl report gives a fact based grounding for our understanding and decision
making. It updates a similar report produced by Berl in 2013, and compliments other
recent Māori economy research such as the Te Matapaeroa report from Te Puni
Kōkiri (2020).
The report shows that Te Ōhanga Māori has grown in value from $42.6b in 2013, to
$68.7b in 2018. But more important are the themes of vibrancy, variety, and growth
that challenge historical stereotypes.
Māori collectives and businesses are supporting the wellbeing of their people
through a broad range of channels, including;
• Community engagement, participation, and contribution
• Whānau and family caring
• Paid employment
• Unpaid voluntary work
• Trust and business enterprise activities.
The Māori economy extends far beyond the scale of Treaty settlements and far
beyond the traditional industries of Fishing, Forestry, Farming, and Tourism. Māori
business is becoming increasingly diversified and dynamic, with high numbers of
skilled Māori moving into entrepreneurship and employing considerable numbers of
people.
The employment base is expanding too. Between 2013 and 2018, the Māori
population grew by 30 percent, and the number of Māori in employment grew by a
massive 47 percent. More and more Māori are joining the labour force each year
and, at least prior to the disruption of COVID-19, they were finding successful
employment at the highest rate in almost a decade (Stats NZ 2018).
The Māori population is expected to continue to grow. Māori are young, and they're
growing their families faster than the average for Aotearoa. Currently, Māori
represent 17 percent of the population. By 2038, that share is projected to grow to
nearly 20 percent (Stats NZ 2017).
All of these trends are described in great detail in Berl's report. The authors have
gone to great lengths to provide a detailed analysis of the data we have available, to
help shape these emerging narratives about Te Ōhanga Māori. For those who
haven't already, I strongly recommend that everyone in this room takes some time to
explore some of their insights.
The themes which emerge add up to a view that the future of the New Zealand
economy is Māori.
Ki te Ao Mārama
When I say that the future is Māori, I'm not just talking about Māori people, Māori
businesses, or Māori jobs.
Perhaps one of the most powerful ways in which Māori will shape the future of
Aotearoa New Zealand is through Māori values.
For generations, Māori economic relationships have been guided by core principles
like manaakitanga (respect and generosity), kaitiakitanga (guardianship), and
whanaungatanga (relationships). While I don't claim to be an expert on these values,
it is easy to see how these guiding principles have led to some common themes in
the Māori approach to the economy:
• Firstly, Māori businesses aim to support collective rather than individual
wellbeing. This means success is often measured across dimensions other
than profit.
• Secondly, that collectivism extends to future generations, meaning Māori have
an emphasis on kaitiakitanga and take a long-term, intergenerational view of
decision making.
• Thirdly, our responsibilities to Papatūānuku are deeply ingrained in Māori
thinking, meaning environmental sustainability and respect stand at the
foreground of business decisions.
In the past, some observers might have described a 'tension' between these values
and a firm's drive to generate profit, implying that these values can hold firms back
from recognising their economic potential. But if that were ever true, it certainly does
not describe the future of the New Zealand economic landscape as I see it standing
here today. Indeed, the Productivity Commission (2020) recently produced a
fascinating report which notes how Māori businesses can leverage their unique
identity and values to strengthen their value proposition.
It would seem that mainstream social values are becoming increasingly Māori. We
see this in government, with the introduction of the Wellbeing and Living Standards
framework (The Treasury 2019). We see it in business, with the rise of socially
driven enterprise, and the large number of traditional firms actively targeting their
impact on climate change.
We see the same trends reflected in investment choices. Whereas sustainable and
impact investing were once niche strategies, incorporating ESG (Environmental,
Social, and Governance) factors into investment decisions is now standard practice.
Firms which can effectively generate a virtuous circle of economic prosperity,
environmental sustainability, financial inclusion, and cultural diversity are being
rewarded for their efforts.
In many ways, it seems the Pākeha world is catching up with Te Ao Māori, and this
is a trend I expect to continue. We only need to look to our rangatahi (youth), and the
fierce enthusiasm with which they approach kaupapa like climate change, racial
inequality, and social justice, to see that Māori values are shaping our future.
As our schools, iwi, and community groups continue to promote and develop
proficiency in Te Reo Māori and tikanga Māori, they will further accelerate this
process. Our mokopuna (grandchildren) will know and accept te tirohanga Māori ki te
ao (the Māori worldview) as an integral part of life in Aotearoa.
And to them I say kia kaha (keep it up). The future of the New Zealand economy is
Māori, and it's bright.
As directors, these are the values of your future employees, customers,
shareholders, stakeholders, and business partners.
Which leads us to the natural conclusion that an understanding of Te Ao Māori must
be a core competency for all New Zealand directors. Not only because Māori
deserve to have their values represented, not only because it's our obligation under
the Treaty of Waitangi, but because the Māori world view is an increasingly integral
aspect of the New Zealand society that we all serve.
That is why I am delighted that the Maori Economy is a prominent part of this
Institute of Directors Leadership Conference, as we take these first steps of
information, awareness and understanding together.
Whakakapinga (conclusion)
Mā te rongo ka mōhio,
mā te mōhio ka mārama,
mā te mārama ka mātau,
mā te mātau ka ora.
(Through information comes awareness, through awareness comes understanding,
through understanding comes knowledge, through knowledge comes life and
wellbeing)
Nō reira
Tēnā koutou, tēnā koutou, tēnā tatou katoa.
Tihei mauri ora!
(Greetings to you all. Thank you.)
Kuputaka (Glossary)
Aotearoa
New Zealand
Iwi
The largest social units in Māori society. The Māori-language word iwi means
"people" or "nation", and is often translated as "tribe", or "a confederation of tribes".
Kaitiaki
A term used for the concept of guardianship, for the sky, the sea, and the land.
A kaitiaki is a guardian, and the process and practices of protecting and looking after
the environment are referred to as kaitiakitanga.
Kaupapa
Values, principles and plans
Kia kaha
Keep it up, be strong, you can do it
Mana
Mana is often referred to as status; a person with mana had a presence. While mana
was inherited, individuals could also acquire, increase or lose it through their actions.
Manaakitanga
Generosity, respect, and hospitality. Actions which grow and support others' mana.
Mokopuna
Grandchildren and future generations
Ngahere
Forest
Pākeha
People of New Zealand European descent
Papatūānuku
The earth. In Māori mythology, all living things descend from Papatūānuku, the
earth, the mother, and Ranginui, the sky, the father.
Rangatahi
The younger generation, youth
Taonga
A treasured possession in Māori culture. Due to the lack of a direct translation to
English and the significance of its use in the Treaty of Waitangi, the word has been
widely adopted into New Zealand English as a loanword.
Tauiwi
People of non-Māori descent
Te Ao Māori
The Māori world. This is a holistic term which captures Māori people, places, values,
ideas, culture, beliefs, and world view.
Te mara a Tāne
Tāne's garden. All that which Tāne oversees. At Te Pūtea Mātua, we use this
narrative to help describe and understand our role within the financial system.
Te moni anamata
The Future of Cash.
Te tirohanga Māori ki te Ao
The Māori worldview
Te Pūtea Matua
The Reserve Bank of New Zealand
Tikanga
Māori customary traditions and practices that guide correct behaviour
Whānau
Extended family group
Whanaungatanga
Realtionships and a sense of connection. At Te Pūtea Matua, our committment to
whanaungatanga is about developing strong partnerships with stakeholders, and
recognising that our uniqure role in the economy creates a responsibility to all New
Zealanders
Rarangi pukapuka (Bibliography)
Berl (2020) Te Ōhanga Māori 2018
BDO (2020) Māori business survey report
Hawkesby (2020) Kaitiakitanga: Te Ao Māori o Te Pūtea Matua - Guardianship: The
Māori World View of the Reserve Bank. Speech delivered to the Raising Māori
Investment Capability Conference 2020 in Tauranga, New Zealand
McLeod, R. and V. Lam (2021) An overview of Māori financial services institutions
and arrangements, Reserve Bank of New Zealand Discussion Paper 2021-03
New Zealand Productivity Commission (2020) New Zealand firms: Reaching for the
frontier, draft report.
Reserve Bank of New Zealand (n.d.) The Future of Cash - Te Moni Anamata.
Retreived 27 April 2021
Reserve Bank of New Zealand (2018) The Journey of Te Pūtea Matua: our Tāne
Mahuta. Retrieved on 30 April 2021
Reserve bank of New Zealand (2021) Te Pūtea Matua becomes inaugural member
of new, international Central Bank Network for Indigenous Inclusion.
Stats NZ (2017) National ethnic population projections: 2013: 2013 (base)-2038
(update)
Stats NZ (2018) Māori unemployment rate at nine-year low, but twice New Zealand
rate.
Te Puni Kōkiri (2020) Te Matapaeroa 2019 - looking toward the horizon
The Treasury (2019) Our living standards framework. Retrieved 30 April 2021.