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The Spinoff
2 days ago
- Business
- The Spinoff
From ‘dead horse' to golden child: Why Pāmu is suddenly making millions
Once under threat of privatisation, the state's largest farmer is now forecasting record profits. But what exactly is Pāmu, and should it still be publicly owned? Threatened with privatisation at the beginning of the year, the government's largest land manager Pāmu has had a remarkable financial turnaround. Late last week, it was revealed that the entity previously known as Landcorp Holdings was expecting to report a record profit after years of criticism and struggle. What is Pāmu? Pāmu is the trading name of Landcorp Farming Limited – the government's largest landholder and farming enterprise. With around 360,000 hectares across 110 farms, it's often called 'the state farmer'. It manages about 1.3 million livestock (cows, deer, sheep and beef cattle), and employs around 600 permanent staff. Its farms aren't just about meat and milk – Pāmu is also involved in forestry, horticulture and agricultural research and development. But its roots run deep into colonial New Zealand. Pāmu evolved out of the Department of Lands and Survey, an agency responsible for surveying, leasing and farming land – much of which was confiscated or unjustly acquired from Māori. When the department was broken up in 1987, its commercial farming assets became Landcorp – a state-owned enterprise, with shares held by the minister of finance and minister for SOEs on behalf of the Crown. What does Pāmu actually do? Under its mandate as a state-owned enterprise, Pāmu has three core jobs: Run profitable farming operations Return land as part of Treaty settlements Lead innovation in sustainable farming Lately, its focus has been on research, including efforts to breed low-emissions livestock and improve dairy-beef genetics. It's part business, part science lab, part Treaty partner – which makes it uniquely placed in Aotearoa's economic and cultural landscape. What about Treaty land returns? This is where things get murky. Pāmu is supposed to help facilitate the return of state-owned land through te Tiriti o Waitangi settlements, and while much of the land it owns must be offered to iwi for sale first under the right of first refusal (RFR), in 2024, it was holding just one property (valued at $3m) for potential sale to iwi – down from two the previous year. Why is Pāmu at threat of being sold off? At the beginning of 2025, Pāmu found itself in the crosshairs of the Act Party. Act MP and dairy farmer Mark Cameron – who also chairs parliament's Primary Production Committee – said the organisation was a 'no brainer' for privatisation, arguing that its $2.2bn assets were better off in private hands. 'How is it so that the dear old taxpayers are on the hook continually flogging a dead horse and arguably Pāmu has not managed to get on the right side of the fiscal ledger?' he said in January. Even the prime minister hinted at wider state asset sales. The thinking was simple: if it's not profitable and not serving a clear public purpose, why keep it? So what happened with the turnaround? In July 2025, Pāmu announced a forecasted after-tax profit of up to $122m – an increase of around 563% from its $26m loss the year before. The secret? A few key shifts: Soaring milk prices: The average farmgate milk price jumped from $7.50 to $10 per kgms (kilogram of milk solids), boosting milk revenue by $24m, up 35%. Better lamb prices and operational efficiency: gains were made across livestock categories and in management. Trimming the fat: Pāmu Foods, its experimental consumer brand, was shut down last year. The company's leadership also changed in August 2024, with experienced director John Rae stepping in as chair and Sarah Paterson joining the board. So is it safe from privatisation? It has been pointed out that much of the land managed by Pāmu isn't actually its to sell, as it's leased from private owners or DOC, and much of the land it does own is subject to Treaty settlements, so iwi get RFR. So privatisation could be tricky, but it doesn't mean it's impossible. While the record profit may take the heat off, Pāmu's long-term future is far from certain. Its 2026 profit is forecast to fall back to between $56m and $66m, with risks from volatile commodity prices, currency shifts, geopolitics and extreme weather. And political winds can shift fast. For now, Pāmu is riding high – but whether that's enough to silence calls for privatisation, or to improve its record on Treaty land returns, remains to be seen.
The Citizen
10-07-2025
- Automotive
- The Citizen
2025 Land Rover Defender Octa Black: South African price and specs
Land Rover has whipped the wraps off the Defender Octa Black, with the local arm of the British marque revealing how much the menacing-looking limited edition will cost in South Africa. See pricing below… Following the reveal of the Range Rover Sport SV Black, Land Rover has now applied the same formula to the flagship Defender, the Octa. And it will strictly be available in limited numbers. The Defender Octa Black features Narvik Black exterior paintwork, Satin Black Powder Coat finish for the front undershield and rear scuff plates, and gloss black exhaust outlets. Several underbody elements have also been finished in the latter hue. The limited edition is available with the choice of 20- and 22-inch wheels, replete with black centre caps. The exterior theme is carried over to the cabin, where the facia is finished in black and the seats are upholstered in Ebony semi-aniline leather and textile material. Carbon-fibre trim is available as a cost option. As a reminder, the Coventry automaker's most powerful Defender employs a 4.4l V8, sourced from BMW. The twin-turbocharged petrol unit produces a healthy 467kW and 750N.m of torque, delivered to all four corners via an eight-speed automatic transmission. According to Land Rover, these figures allow the pinnacle Defender to sprint to 100km/h from a standstill in four seconds, before topping out at 250km/h, or 210km/h when fitted with 20-inch wheels. Land Rover Defender Octa Black price in South Africa The Defender Octa Black is priced from R3 979 500, making it R315 900 more expensive than the standard Defender Octa, which we sampled in First Edition form in January 2025. Included in the pricing are a five-year/100 000km maintenance plan and a warranty spanning the same number of years and distance. Land Rover Defender Octa Black — R3 979 500 Said Mark Cameron, MD of the Defender brand: 'The introduction of the Defender Octa Black takes things up a notch [on the standard derivative]. We know our clients love giving their Defenders all-black finishes, so our designers have applied this principle to every possible surface – inside and out – to create the ultimate tough luxury Defender Octa.' Click here to browse thousands of new and used vehicles here with CARmag! The post 2025 Land Rover Defender Octa Black: South African Price & Specs appeared first on CAR Magazine. Breaking news at your fingertips… Follow Caxton Network News on Facebook and join our WhatsApp channel. Nuus wat saakmaak. Volg Caxton Netwerk-nuus op Facebook en sluit aan by ons WhatsApp-kanaal.
Yahoo
04-07-2025
- Automotive
- Yahoo
Land Rover's Defender Octa goes stealth with new Black specification
Land Rover's range-topping Defender Octa has gained an undercover new specification with the Black. Applied to the V8-powered four-wheel-drive, the new Black specification brings a range of black-finished components for an undercover, stealthy look. All cars are finished in Narvik Black as standard, while an optional matte protective film can be applied as an option. You'll find satin black paint on areas such as the front undershield and rear scuff plates, too, while the Land Rover badge on the grille is black with a darkened silver script. There's also the choice of either 20-inch forged or 22-inch gloss black wheels with black centre caps. Inside, you'll find ebony leather applied throughout with perforation patterns applied to the seats. The main dashboard section is finished in a satin black powder coat, too, while buyers can also add a chopped carbon fibre finish as an extra. All cars get a 13.1-inch infotainment system as standard, too, which incorporates smartphone mirroring as well. Mark Cameron, managing Director, Defender, said: 'There's no denying the presence and purpose of Defender Octa: it's the tallest and widest Defender, enabling it to tackle even more extreme terrain. 'The introduction of Defender Octa Black takes things up a notch. We know our clients love giving their Defenders all-black finishes, so our designers have applied this principle to every possible surface – inside and out – to create the ultimate tough luxury Defender Octa.'. As with all Defender Octa models, the Black gets a 4.4-litre turbocharged V8 engine as well as Land Rover's 6D suspension system which can help the car to maintain a level footing no matter what conditions it is driving through.
Hindustan Times
04-07-2025
- Automotive
- Hindustan Times
New Land Rover Defender Octa Black unveiled with darkened, sinister look
The new Defender Octa Black brings an all-black look to the performance SUV with extensive black detailing across the exterior and interior Check Offers JLR has taken the wraps off the new Defender Octa Black, bringing a new paint finish to the power-packed SUV. The new Defender Octa Black builds on the absolutely ludicrous Octa variant, but with an all-black theme for that sinister look. Land Rover has gone to great lengths for an extensive black detailing on the performance 4x4, which promises to set it apart from the regular Defender SUVs. Defender Octa Black: All-Black Everywhere The new Defender Octa Black is finished in the new Narvik Black paint scheme, which the automaker calls the 'truest black" in the Defender palette. The new Narvik Black gets a gloss finish, while clients will be able to personalise the exterior with an optional matte protective film. Also Read : Defender 110 Trophy Edition showcased. Here's what is special about the SUV The exhaust silencer and centre box, and optional electrically deployable towbar, get a gloss or satin black finish on the Defender Octa Black Moreover, about 30 exterior elements have been finished in black to keep up with the theme. This includes the front undershield and rear scuff plates in Satin Black Powder Coat with exposed recovery eyes in Satin tow eye cover at the front and quad exhaust tips at the rear get the gloss black finish. The Land Rover oval on the grille is finished in black as well with the darkened silver script. Other blacked-out elements include the exhaust silencer and centre box, and optional electrically deployable towbar, all of which either get a gloss or satin black finish. Customers of the Defender Octa Black have the option to choose between 20- to 22-inch gloss black wheels with black centre caps and Shadow Atlas Defender script. Even the brake calipers are finished in gloss black with the lettering in a contrasting Sentient Silver. The cabin sports the all-black theme sporting Ebony Semi-Aniline Leather with Kvadrat upholstery, along with the optional chopped carbon fibre finish across the interior Defender Octa Black: Blacked-Out Cabin The cabin takes the dark route even more seriously with the new Ebony Semi-Aniline Leather with Kvadrat upholstery on the performance seats. Kvadrat brings new perforation patterns on the seats with new stitching detail on the backrests. The seat backs and armrest hinges are finished in Carpathian Grey. Other enhancements include the cross car beam finished in satin black, while there is an optional chopped carbon fibre finish across the interior, in case it wasn't already black enough. Speaking on developing the new black variant, Mark Cameron, Managing Director, Defender, said, 'There's no denying the presence and purpose of Defender Octa: it's the tallest and widest Defender, enabling it to tackle even more extreme terrain. The introduction of Defender Octa Black takes things up a notch. We know our clients love giving their Defenders all-black finishes, so our designers have applied this principle to every possible surface – inside and out – to create the ultimate tough luxury Defender Octa." The Defender Octa Black gets the same 4.4-litre twin-turbo V8 that produces 626 bhp and 750 Nm of peak torque Defender Octa Black: Engine Specifications Power on the new Defender Octa Black comes from the same 4.4-litre twin-turbo V8 engine sourced from BMW. The motor produces 626 bhp and 750 Nm of peak torque. The SUV sports a 6D suspension for higher off-road performance, while the model is equipped with Body and Soul Seats (BASS) in the front row that elevates the aural experience. The Defender Octa packs a 700-watt, 15-speaker Meridian sound system. The new Defender Octa Black gets the newer updates across the range, including the revised headlamp cluster and signature graphic, new flush taillights with smoked lenses, and a larger 13.1-inch touchscreen infotainment system with PiviPro. The Defender Octa will now be available in two new colours - Sargasso Blue and Borasco Grey. A new white wrap will be rolled out later this year Defender Octa Black: More Colours With the new Octa Black, the Defender Octa range will now be available in two new colours - Sargasso Blue and Borasco Grey - along with the existing Charente Grey and Petra Copper. Land Rover will introduce the Patagonia White Matte Wrap on the Octa later in the year. The new Defender Octa Black should be available in India soon. Check out Upcoming Cars in India 2025, Best SUVs in India. First Published Date: 04 Jul 2025, 13:13 PM IST
The Citizen
13-06-2025
- Business
- The Citizen
Time is running out for NPOs to apply for the inaugural Defender Awards
Time is running out for NPOs to apply for the inaugural Defender Awards Non-profit organisations in South Africa and six other countries have only a few days left to enter the inaugural Defender Awards, with submissions closing on June 16. Here's how to enter. Launched by 4×4 brand Defender, this new international awards programme is designed to support small, frontline non-profits working in wildlife conservation, marine protection, environmental restoration and humanitarian aid. Related: Holgate Foundation Embarks on Mozambique Expedition with Defender Convoy Each of the seven winners will receive a comprehensive support package valued at over £1 million, including: A £100,000 bursary to fund their work A robust and field-ready Defender vehicle** to help them reach remote areas Expert mentorship from a global network of conservation and humanitarian professionals. Designed with a local focus, the awards aim to empower organisations in South Africa, the United Kingdom, France, Germany, Italy, Australia and Japan — countries where real grassroots impact is being made in some of the world's most fragile environments. About the Defender Awards The Defender Awards recognise organisations making a tangible difference in one of four key categories: Defenders of the Wild: Working to protect endangered and at-risk species Defenders of Humanity: Supporting vulnerable and marginalised communities Defenders of the Land: Restoring and preserving natural ecosystems and landscapes Defenders of the Sea: Safeguarding marine species and ocean environments Organisations can submit their entries via the official awards portal. Each country will shortlist two entries per category, resulting in a 56-entry international shortlist. A final panel of respected global experts will then select one winner per category, along with three additional standouts to receive the seven full awards packages. Defender's legacy of service dates back to 1954, when its vehicles were first deployed with Red Cross nurses in Kenya and Dubai. Today, Defender's commitment to purpose-led innovation continues through partnerships such as the 20-year collaboration with Tusk, which is focused on wildlife protection and biodiversity conservation in Africa. 'We created the Defender Awards to elevate the work of grassroots organisations doing incredible work, often under extremely challenging conditions,' says Mark Cameron, MD of Defender. 'This is a significant investment — over £1 million in total — and a chance to build a global network of changemakers who can learn from and support one another.' For more details on how to enter, click here. Related: South African Panel Announced for Global Defender Awards Judging The post Defender Awards 2025: Entries Close 16 June appeared first on CAR Magazine. Breaking news at your fingertips… Follow Caxton Network News on Facebook and join our WhatsApp channel. Nuus wat saakmaak. Volg Caxton Netwerk-nuus op Facebook en sluit aan by ons WhatsApp-kanaal.
