Parcel and Postal Technology International
  • News
    • A-E
      • Automation
      • Business Diversification
      • Construction / Development
      • Cross-border
      • Delivery
      • E-commerce
      • Expo
    • F-O
      • Freight
      • IT & Systems
      • Last Mile
      • Lockers / PUDO
      • Logistics
      • Mail
      • Operations
    • P-R
      • Packets
      • Parcels
      • Peak
      • Retail
      • Returns
    • S-Z
      • Sorting Systems
      • Staff / Personnel
      • Sustainability
      • Technology
      • Vehicles / Fleet
  • Features
  • Online Magazines
    • March 2025
    • September 2023
    • June 2023
    • March 2023
    • December 2022
    • SHOWCASE 2019
    • Archive Issues
    • Subscribe Free!
  • Opinion
  • Videos
  • Analysis
  • Awards
    • 2025 Awards
    • Previous Winners
  • Supplier Spotlight
  • Parcel + Post Expo
LinkedIn YouTube Twitter
  • Sign-up for Breaking News Emails
  • Meet the Editors
  • Contact Us
  • Media Pack
Subscribe
LinkedIn Facebook
Parcel and Postal Technology International
  • News
      • Automation
      • Business Diversification
      • Construction / Development
      • Cross-border
      • Delivery
      • E-commerce
      • Expo
      • Freight
      • IT & Systems
      • Last Mile
      • Lockers / PUDO
      • Logistics
      • Mail
      • Operations
      • Packets
      • Parcels
      • Peak
      • Retail
      • Returns
      • Sorting Systems
      • Staff / Personnel
      • Sustainability
      • Technology
      • Vehicles / Fleet
  • Features
  • Online Magazines
    1. December 2024
    2. September 2024
    3. June 2024
    4. March 2024
    5. SHOWCASE 2019
    6. Subscribe Free!
    Featured
    April 2, 2025

    In this Issue – March 2025

    Online Magazines By Web Team
    Recent

    In this Issue – March 2025

    April 2, 2025

    In this Issue – December 2024

    December 5, 2024

    In this Issue – September 2024

    September 19, 2024
  • Opinion
  • Videos
  • Analysis
  • Awards
    • 2025 Awards
    • 2024 Award Winners
    • 2023 Award Winners
    • 2022 Award Winners
    • 2021 Award Winners
    • 2020 Award Winners
    • 2019 Award Winners
    • Previous Winners
  • Supplier Spotlight
  • Parcel + Post Expo
LinkedIn Facebook
Subscribe
Parcel and Postal Technology International
Business Diversification

New Zealand government acquires Kiwibank from NZ Post, ACC and NZ Super Fund

mmBy Elizabeth BakerAugust 23, 20223 Mins Read
Share LinkedIn Twitter Facebook Email

The New Zealand government has acquired 100% of Kiwibank’s parent company, Kiwi Group Holdings (KGH).

KGH, which also operates New Zealand Homes Loans, had been owned by NZ Post, ACC and the NZ Super Fund. Under the terms of the agreement when ACC and NZ Super Fund became shareholders in 2016, the government had first right of refusal over any future sale of shares. As part of the agreement, Kiwibank and NZ Home Loans will continue to operate independently. The Crown’s ownership of KGH will be expressed through a newly incorporated Schedule 4A company, Kiwi Group Capital (KGC), with a separate board.

The transaction valued KGH at NZ$2.1bn (US$1.4bn). The process of acquisition will be a transfer of assets and it will not change the overall value of the Crown’s consolidated balance sheet. It does require the government to fund its contribution for the purchase, which will be done through the multi-year capital allowance. This means the cost to purchase is already part of the borrowing program published in the country’s 2022 budget.

Grant Robertson, Finance Minister of New Zealand, said, “The transaction ensures Kiwibank remains 100% Kiwi-owned, a bottom-line pledge that the previous national government also made in 2016 when the current ownership arrangements were entered into. While the Crown essentially owned KGH through Crown-owned entities, an ongoing shareholding in Kiwibank did not fit NZ Post’s and ACC’s long-term strategic and investment plans. NZ Super Fund had been interested in purchasing a majority holding in KGH but withdrew its interest as it did not align with the government’s commitment to public and New Zealand ownership.

In turn, a NZ Post spokesperson stated, “Kiwibank was established in 2002 as part of an NZ Post business strategy to better leverage our then retail assets and as part of the NZ Post Group’s diversification. A lot has changed in the 20 years since – mail has continued to decline and the NZ Post parcel business has grown rapidly, both the NZ Post and Kiwibank physical retail store models have transformed and customer needs have diverged. We are extremely proud of the part that we have played in creating a bank for New Zealanders.

“Although it previously made sense for NZ Post to have ownership of Kiwibank (KGHL), as NZ Post has focused more on the core delivery business (which is very different from what it was in the early 2000s), ownership of KGHL no longer aligns with the work that we do. NZ Post also recognizes that Kiwibank’s continued future success will rely on further capital investment. This is the final step in our ongoing separation from Kiwibank (KGHL) and allows us to focus solely on our delivery business. The sale is conditional on approval by the Reserve Bank of New Zealand (RBNZ).”

Share. Twitter LinkedIn Facebook Email
Previous ArticleLatvijas Pasts to build 8,000m2 sortation center
Next Article Profitable parcel processing depends on AI-powered robotics

Related Posts

Business Diversification

New Post Office CEO announces banking deal for postmasters

April 30, 20252 Mins Read
Business Diversification

UPS strengthens healthcare logistics with Andlauer acquisition for US$1.6bn

April 25, 20252 Mins Read
Business Diversification

Posti partners with Black Winch to deliver Product as a Service solutions

April 14, 20252 Mins Read

Receive breaking stories and features in your inbox each week, for free


Enter your email address:


Latest News

Whistl to provide e-commerce fulfillment services to Tesco F&F Online

May 13, 2025

NZ Post’s Auckland Processing Centre becomes fully operational

May 13, 2025

XPO Logistics boosts cross-border capacity with state-of-the-art container trailers

May 13, 2025
Getting in Touch
  • Contact Us / Advertiser
  • Meet the Editors
  • Download Media Pack
  • Breaking News Emails
Our Social Channels
  • Facebook
  • LinkedIn
Supplier Spotlights
  • Wayzim Technology Co., Ltd
  • Cookie Policy
  • Privacy Policy
  • Terms & Conditions
  • Notice & Takedown Policy
  • Site FAQs
© 2025 UKi Media & Events a division of UKIP Media & Events Ltd

Type above and press Enter to search. Press Esc to cancel.

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Manage consent

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. These cookies ensure basic functionalities and security features of the website, anonymously.

CookieDurationDescription
cookielawinfo-checkbox-advertisement1 yearSet by the GDPR Cookie Consent plugin, this cookie records the user consent for the cookies in the "Advertisement" category.
cookielawinfo-checkbox-analytics1 yearSet by the GDPR Cookie Consent plugin, this cookie records the user consent for the cookies in the "Analytics" category.
cookielawinfo-checkbox-functional1 yearThe GDPR Cookie Consent plugin sets the cookie to record the user consent for the cookies in the category "Functional".
cookielawinfo-checkbox-necessary1 yearSet by the GDPR Cookie Consent plugin, this cookie records the user consent for the cookies in the "Necessary" category.
cookielawinfo-checkbox-others1 yearSet by the GDPR Cookie Consent plugin, this cookie stores user consent for cookies in the category "Others".
cookielawinfo-checkbox-performance1 yearSet by the GDPR Cookie Consent plugin, this cookie stores the user consent for cookies in the category "Performance".
elementorneverThe website's WordPress theme uses this cookie. It allows the website owner to implement or change the website's content in real-time.
JSESSIONIDsessionNew Relic uses this cookie to store a session identifier so that New Relic can monitor session counts for an application.

Functional

Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features.

CookieDurationDescription
__cf_bm30 minutesCloudflare set the cookie to support Cloudflare Bot Management.

Analytics

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc.

CookieDurationDescription
CONSENT2 yearsYouTube sets this cookie via embedded YouTube videos and registers anonymous statistical data.
uidsessionThis is a Google UserID cookie that tracks users across various website segments.
vuid1 year 1 month 4 daysVimeo installs this cookie to collect tracking information by setting a unique ID to embed videos on the website.
_ga1 year 1 month 4 daysGoogle Analytics sets this cookie to calculate visitor, session and campaign data and track site usage for the site's analytics report. The cookie stores information anonymously and assigns a randomly generated number to recognise unique visitors.
_ga_*1 year 1 month 4 daysGoogle Analytics sets this cookie to store and count page views.

Advertisement

Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. These cookies track visitors across websites and collect information to provide customized ads.

CookieDurationDescription
OAGEOsessionOpenX sets this cookie to avoid the repeated display of the same ad.
OAID1 yearCookie set to record whether the user has opted out of the collection of information by the AdsWizz Service Cookies.
VISITOR_INFO1_LIVE5 months 27 daysYouTube sets this cookie to measure bandwidth, determining whether the user gets the new or old player interface.
YSCsessionYoutube sets this cookie to track the views of embedded videos on Youtube pages.
yt-remote-connected-devicesneverYouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt-remote-device-idneverYouTube sets this cookie to store the user's video preferences using embedded YouTube videos.
yt.innertube::nextIdneverYouTube sets this cookie to register a unique ID to store data on what videos from YouTube the user has seen.
yt.innertube::requestsneverYouTube sets this cookie to register a unique ID to store data on what videos from YouTube the user has seen.

Others

Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet.

CookieDurationDescription
VISITOR_PRIVACY_METADATA5 months 27 daysDescription is currently not available.

SAVE & ACCEPT
Powered by