Impact Policy Tracker Policy

Social Investment Agency



The Social Investment Agency (SIA; Māori: Toi Hau Tāngata) is New Zealand’s central government department responsible for leading the implementation of the country’s social investment strategy. Re-established as a standalone Public Service department in July 2024, the SIA sets practice standards, advises on the development of data and evidence infrastructure, and supports other agencies in applying the investment approach to social spending.



Highlights

  • Evolution from Previous Government Agencies: The SIA is the latest iteration of New Zealand’s long-term commitment to social investment. Initially established within the Ministry of Social Development in 2017, it became the Social Wellbeing Agency in 2020 and was re-established as an independent Public Service department on 1 July 2024. The agency now holds central status alongside the Treasury and the Department of the Prime Minister and Cabinet, with oversight responsibilities across the government.

  • Responsible for the creation of the Social Investment Fund (2024-2029): As outlined in its Strategic Intentions 2024/25–2028/29, a top priority for the SIA is launching the Social Investment Fund in 2025. This innovative mechanism will offer outcome-based financing to NGOs, iwi, and local service providers. Alongside the fund, the agency is also establishing a Social Investment Board, developing a system-wide outcomes-based contracting model, and delivering key components of Budget 2025 aligned with social investment priorities.

Government’s Role:
Market Facilitator


Country:
New Zealand

Policy Type:
Dedicated Government Agencies and Offices

Year: 2024

Responsible Institution:
Ministry for Social Investment

Additional information:
Social Wellbeing Agency Annual Report 2024

Dedicated Government Agencies and Offices

What are Dedicated Government Agencies Supporting the Impact Economy?

Governments seeking to foster impact economies -whether through social investment, support for social enterprises, or broader ecosystem development- have established dedicated agencies or units with a clear and sustained mandate. These bodies are typically responsible for implementing and overseeing programmes that drive impact investment and support the wider development of the impact economy.

While their specific focus may vary from country to country -from promoting social enterprises and cooperatives in South Korea to strengthening the social investment markets in the UK and New Zealand- these units enable coordination across different government offices. Beyond their operational roles, these agencies serve as policy anchors, ensuring continuity of the impact economy agenda beyond electoral cycles and enabling long-term public–private collaboration. They also act as conveners and knowledge hubs, facilitating cross-sector learning and coordination between government, civil society, and the private sector.