In 2002, Raukawa ki Te Tonga received the agreed settlement quota resulting from the Maori Fisheries Act 2004. At this time the Charitable Trust was established as the mandated Iwi Organisation (MIO) to govern/administer fisheries settlement assets. The settlement assets transferred from Te Ohu Kai Moana to the Raukawa ki te Tonga Trust were:
- Fisheries Quota Shares: $3,474,000
- Cash: $945,819
- Income Shares in Aotearoa Fisheries Limited (AFL): $8,959,631 (2,900 shares).
Since 2002, the Raukawa ki te Tonga AHC has purchased additional Paua Quota, non-settlement quota, with a current value of over $3 million.
In 2014, Moana New Zealand issued a one for one bonus share issue taking the Raukawa ki te Tonga AHC's shareholding in Moana New Zealand Limited to 5,800 shares.
Fishing Quota and AFL Shares
As at 30 September 2019, Raukawa ki te Tonga AHC's fisheries assets represent over two-thirds of the total portfolio and include Fisheries Quota valued at $7,126,812.00 and AFL Shares valued at cost of $8,959,631.00.
Aotearoa Fisheries Limited, trading as Moana New Zealand
In 2019, Moana New Zealand Limited reported a net profit after tax of $22.8 million, up from $21.4 million for the previous year.
In its results announcement for the year-ended 30 September 2019, Moana New Zealand reported that the two highlights for this year were the fin fish and oyster businesses, both exceeding plan. Fin fish achieved a 24 per cent lift despite a 20 per cent cut to the total allowable commercial catch for tarakihi caught off the east coast of the North and South Island. The oyster business also achieved a 10 per cent lift on plan.
Moana New Zealand continues to work with Iwi and industry groups to foster stronger partnerships and to ensure our fisheries are being managed with a long-term, sustainable view in mind.
In the Financial Year Ending 30 September 2019, Raukawa ki te Tonga AHC received a cash payment $261,463 from Aotearoa Fisheries Limited, compared with $198,674 in the previous year.
The table below provides the returns achieved on the AFL/Moana New Zealand investment from 2010 – 2019.