First Indigenous Peoples Financial Knowledge Survey Commences
25 March 2010
Te Rūnanga o Ngāi Tahu is the first iwi to undertake a financial knowledge survey, commencing tomorrow. The ANZ Ngāi Tahu Financial Knowledge Survey is believed to be a world first for indigenous people.
Te Rūnanga o Ngāi Tahu Kaiwhakahaere Mark Solomon says the sound financial knowledge of individuals directly influences the health and social wellbeing of whānau, hapū and iwi and the ability to make meaningful choices and decisions in life.
“Last year there was a nation-wide survey of all New Zealanders [ANZ-Retirement Commission 2009 Financial Knowledge Survey] that indicated there is work to be done in this area. Ngāi Tahu is taking the next step and gauging the overall financial knowledge of our iwi, which will help inform current and future financial education programmes and initiatives over the next five years. Our goal is financial independence for our people - the ability to manage borrowing and debt, and have the funds to be able to make important choices in life.”
ANZ New Zealand CEO Jenny Fagg says ANZ is pleased to give its support to the project.
“As New Zealand's largest financial services institution, we are proud to support Te Rūnanga o Ngāi Tahu in this landmark initiative as part of our bank’s broader commitment to improving New Zealanders’ financial knowledge. We believe it is important everyone has the skills to make informed decisions about how they manage money and plan for the future”.
Retirement Commissioner and Whai Rawa Chair Diana Crossan says “the survey will be a valuable benchmark to build on. Over time, it will contribute to measuring the effectiveness of financial education in New Zealand.”
The research is being conducted during March and April with results expected towards the end of July 2010. Supporters of the ANZ Ngāi Tahu Financial Knowledge Survey include ANZ, the Department of Labour, Ministry of Education and The Retirement Commission.
An example of a current Ngāi Tahu programme designed to increase social and economic independence and self-sufficiency is Whai Rawa; a medium to long-term saving scheme, specifically designed for Ngāi Tahu whānui.