What’s at stake? How an iwi that settled for about $70m now carries a $1.1b balance sheet while pushing for social and political change.
Background: Ngāti Toa has developed a circular economy model that links housing, social services, and environmental work to its investment strategy.
Main players: Helmut Modlik, Te Rūnanga o Toa Rangatira, Kā te Rama Switched On Group, Boyd Scirkovich.
Sitting in NBR’s Auckland studio at the end of a long year, Helmut Modlik sounds equal parts exhausted and energised. In 2025, Ngāti Toa continued to expand across housing, health, social services, and environmental work.
Under his watch, the iwi shifted more of its capital directly into
