Prime Minister John Briceño of Belize has strategically deflected inquiries regarding a prospective acquisition involving telecommunications providers BTL and Speednet, citing his brother’s financial stake in Speednet as grounds for non-participation in discussions. The situation presents a potential conflict of interest given that Briceño’s administration maintains majority ownership of BTL while his brother holds direct investments in Speednet.
During a recent press engagement, Briceño acknowledged the familial financial connection but emphasized his personal detachment from Speednet investments. “Belize is a small country and you all know I have never lived off my government salary,” Briceño stated. “I do not have any direct investments with Speednet—it is my brother.”
The Prime Minister defended the government’s approach to state-owned enterprises, noting that despite government majority ownership, BTL operates as a private entity with autonomous decision-making authority. Briceño pointed to BTL’s remarkable financial turnaround under his administration, highlighting how the company transformed from generating one million dollars in 2019 under the previous UDP government to exceeding twenty million dollars in recent performance.
Drawing parallels to his private business experience with Centaur, Briceño explained the logical business case for expansion through acquisition. He detailed how his company grew from a small Orange Walk Town operation through strategic purchases of smaller companies across multiple communities, ultimately expanding into cable services. This growth strategy, according to Briceño, mirrors what BTL might pursue to enhance cash flow and profitability.
The Prime Minister concluded that BTL’s leadership should make decisions based solely on the company’s best interests, despite the overlapping familial and governmental connections that have raised questions about potential conflicts in the proposed telecommunications merger.