Hemi, the latest recipient of the New Zealand Institute of Economic Research Scholarship in Māori Economics, is the first member of his extended whānau to attend university and is working toward a Bachelor of Commerce. In a field often driven by maximising profits and increasing shareholder dividends, he’s determined to apply the community-based values of his upbringing to his degree.
“My biggest passion is engaging with who I am as a Māori person,” says Hemi. “Tikanga Māori, te reo Māori, all of it. Majoring in both finance and Māori studies allows me to build a bridge between te ao Māori and te ao Pakeha. I think the best outcomes happen when you can move between both worlds and use the best bits from each.”
It was Hemi’s passion for finding the overlap between these two worlds that landed him the scholarship. Only one student each year is selected for this prestigious scholarship, and they must demonstrate a committed interest in the Māori economy and issues affecting iwi across the motu.
“The Māori economy continues to grow in size and significance to the overall economy of New Zealand,” says Jason Shoebridge, Chief Executive of NZIER. “We therefore want to support the development of economists who can bring a te ao Māori perspective to economics and economic decision making.”
Hemi first discovered his passion for commerce and finance in high school where he was introduced to the economic principles that make the world go around. He loved understanding why grocery prices fluctuated, how government legislation impacted interest rates, and how larger social trends could be reflected in personal financial habits. But he also realized that his community-oriented upbringing didn’t always mesh with the bottom-line principles he was learning in school.
"When I’m doing assignments in my finance classes, the correct answers always seem to be about generating the biggest revenues,” says Hemi. “But from a te ao Māori perspective, you have to start balancing things. You can’t just think about cash flow. You have to think: what about the whenua? What about the people?
"When we look at ownership we look at things from a collective worldview. That’s really important to me, and I think we need to have a more holistic approach to making decisions that are beneficial for the whole community.”
With his sights already set on the future, Hemi dreams of providing financial literacy education to people who are economically disadvantaged.
“There are a lot of disparities between Māori and non-Maori in the world of finance and economics,” Hemi explains. “Home ownership rates are drastically lower, there’s much higher debt, and even basic budgeting skills aren’t as common. When I graduate, I want to move into that space so I can uplift the mana and use kaupapa Māori to improve financial literacy.”
But his ultimate dream? To open a Māori bank.
“I know it’s far-fetched and it’s obviously not easy to start a bank, but it would be amazing to build something where the profits can go back into our community, back into our marae and iwi, rather than being sent off to Australia.”
Hemi currently works part-time at BNZ to gain insight into the world of banking while he finishes his degree.
“At the beginning of the year, I was working full-time in addition to taking a full load of University courses just so I could make ends meet,” he says. “But receiving the scholarship really helped take off the financial pressure and let me cut back on work so I can focus on my studies.”
The scholarship is part of NZIER's Public Good Programme, which invests the company’s surplus profits into initiatives that advance the important economic issues confronting Aotearoa. Jason says that Hemi’s academic success in his first year of University and strong links to his iwi made his application stand out.
“He’s planned his study to provide himself with the expertise to be able to work for the benefit of his iwi and the Māori economy,” says Jason. “He’s also involved in a range of extra-curricular activities that support this goal. Combined, this made him an outstanding recipient of the scholarship.”