At the third annual Indigenous Business Gathering in Saskatoon this week Premier Scott Moe spoke highly of the positive impact Kitsaki Management is having on the Lac La Ronge Indian Band.
The event was hosted by the province and aimed to be a bridge for Indigenous businesses to more easily engage in the economy.
During his address to the attendees, Premier Scott Moe spoke on the $160 million in wealth Kitsaki, the LLRIB economic development arm, has brought to the community.
In a conversation with MBC Radio News, Ron Hyggen, CEO of Kitsaki Management, explained how that wealth is broken down.
“As a group, we are 11 companies as a whole and we employ over 1500 employees so that (wealth) is a culmination of our work as a group,” said Hyggen.
Hyggen says Kitsaki’s portfolio has been growing in recent years. The economic development company first started with big investments in the mining industry. While Hyggen says those investments in mining continue they have began investing more in other areas including forestry and IT.
“Everyone in the world has a phone in their pocket nowadays, so obviously it has been a push for us,” he said.
Part way into 2024, Hyggen says Kitsaki has already surpassed what they did last year as a group in revenues, net income, and employment.
“Things continue to grow in all of our areas and all of our companies and we just see nothing but great things in the future for us.”
Hyggen made sure to point out that year-end for financial terms is the end of March, so when measuring to the end of December their numbers already surpassed the year before.
He projected an at least 30 percent growth total once year-end numbers are finalized after this month.
The Kitsaki CEO explained where he feels that growth came from.
“Diversification, more understanding of who we are and what we do,” said Hyggen. “Getting our name out, not just in Saskatchewan, which is our foundation, but nationally.”
While Hyggen couldn’t get into specifics, he says more investments are expected to be announced in the coming months.
(PHOTO – Kitsaki Management CEO Ron Hyggens. Photo courtesy of kitsaki.com)