Iqaluit, Nunavut – October 2, 2018 – The Qikiqtani Inuit Association (QIA) had an opportunity to receive reports from its two subsidiary organizations: Kakivak Association and the Qikiqtaaluk Corp. (QC) at today’s board meeting in Iqaluit.
Following their report, QIA presented Kakivak, its non-for-profit business development arm, a cheque for $852,151. This is an increase from last year by $77,750.
The funds presented to Kakivak comes from the Nunavut Trust for community economic development in Qikiqtani. Kakivak uses the money to provide business, employment and training services to enhance the strengths of Inuit in the Qikiqtani region.
During the meeting QIA also received a cheque for $4,586,392.00 from its subsidiary QC. This is the largest dividend presented by QC to QIA to date.
QC manages economic development on behalf of QIA and strives to be a major contributor to all sectors of the Nunavut economy, focusing primarily on fisheries, retail operations, property development and management. The company also services the emerging mining and resource development sector.
These dividends will go into QIA’s Legacy Fund, in accordance with our revenue policy, to generate interest for future programs and activities for Inuit in the region. As the Legacy Fund grows more money flows into the Benefits Fund to run programs for Inuit.
“I’m proud of the important work that Kakivak does to foster business development in Qikiqtani by helping small-Inuit-run businesses,” says QIA President P.J. Akeeagok, “I am equally pleased to see that Qikiqtaaluk Corp. is achieving economic success which provides QIA dividends that help fund programs for Qikiqtani Inuit.”
For more information, please contact:
Sima Sahar Zerehi, Director of Communications, Qikiqtani Inuit Association