Crayfish is at the heart of Kahungunu Asset Holding Company’s operations in the North Island and generates significant income for our iwi.
KAHC owns crayfish quota on the East Coast
In 2007, KAHC entered into a five-by-five year share purchase and quota lease agreement with Fiordland Lobster Company, New Zealand’s largest exporter of live rock lobster, in return for guaranteed access to KAHC’s quota.
The two of the three largest crayfish holding depots owned by Fiordland Lobster Company (FLC) in the North Island are located in Masterton and Mahia, with the fishery straddling the Kahungunu coastline.
Over a decade, FLC has grown to become the largest and most profitable crayfish company in Australasia. Together with FLC, we are working to ensure Kahungunu and Rongomaiwahine fishermen catch every kilogram of quota and the fishery continues to provide jobs for our whanau.
As a result of KAHC’s lease agreement and share purchase with FLC, we have received record annual quota lease and dividend yields, and seen the share price increase by 500 percent.
In 2012, KAHC director Taine Randell was appointed to the board of FLC to ensure the interests of Ngāti Kahungunu are preserved and the Iwi continues to profit from the partnership.
Our asset portfolio has increased in value and includes fishing quota, shares in Aotearoa Fisheries Limited, Pania Reef Fisheries (GP) Limited, Takitimu Seafoods (GP) Limited and the Fiordland Lobster Company Limited.