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

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)
Pattrick Smellie
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...

More Finance

FNZ extends controversial catch-up offer
Finance

FNZ extends controversial catch-up offer

Fintech FNZ has extended its deadline for “catch-up” equity offers, as employee shareholders say discontent grows.In March, the global fintech offered its class B shareholders a “catch-up” offer after it revealed their holdings could be massively diluted following its August capi...

Victoria Young 16 Apr 2025
The cost of over-regulated banking: $10b to $14.4b a year
Finance

The cost of over-regulated banking: $10b to $14.4b a year

Critics claim a huge annual cost from 30 years of regulatory creep.

Pattrick Smellie 16 Apr 2025
Blackbull backs Eden Bradfield into Elevation funds
Finance

Blackbull backs Eden Bradfield into Elevation funds

The Christopher Swasbrook-established fund gets new investors and portfolio manager.

Govt eagle-eyed on ComCom interchange fees decision
Finance

Govt eagle-eyed on ComCom interchange fees decision

Open banking depends on sustainable interchange fees, Minister Scott Simpson says.

Pattrick Smellie 11 Apr 2025