Kāinga Ora solvent, but there are 'troubling reports' about the social housing agency

Current Kāinga Ora chair and Labour era minister Mark Gosche - safe for now. (Image: NZME)

Tue, 19 Dec 2023

There is no doubt that Kāinga Ora is solvent, but an array of “troubling reports” about procurement and financial management are driving the urgent review of the social housing agency, says housing minister, Chris Bishop.With $45 billion of assets and $12.7b of debt, Kāinga Ora (KO) does not appear to be over-geared, even with the prediction that its debt will balloon to $28.9b by 2033.Asked directly by BusinessDesk whether KO was solvent, Bishop replied: “I am advised they are solvent.”But there were “worrying tre...

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