The Belize Chamber of Commerce and Industry has issued a stern warning regarding the potential acquisition of SMART by government-controlled Belize Telemedia Limited (BTL), calling for immediate suspension of the proposed telecommunications merger. The nation’s foremost business advocacy group contends that this high-stakes consolidation lacks essential regulatory safeguards and transparent oversight mechanisms necessary to protect consumer interests and public funds.
In a detailed statement, Chamber President Giacomo Sanchez emphasized the absence of comprehensive competition legislation and independent regulatory frameworks that would normally govern such significant market restructuring. The organization expressed particular concern that allowing one dominant entity to absorb its competitor could establish market conditions favoring inflated pricing structures, diminished service quality, and stifled innovation within Belize’s already limited telecommunications landscape.
The Chamber’s analysis identifies multiple unresolved issues including ambiguous ownership structures, questionable valuation methodologies, and the potential involvement of public financial resources—possibly including social security funds—in assuming undue risk. Sanchez specifically referenced BTL’s historical market conduct as generating ongoing competition and consumer protection concerns, noting that these issues remain particularly relevant within the context of industry consolidation.
Of significant concern to the business community is the perceived conflict of interest arising from Prime Minister Dean Barrow’s dual role as both government leader and ministerial overseer of BTL, compounded by reported familial connections within the telecommunications sector. The Chamber maintains that without established competition protocols, independent financial assessments, and transparent public consultation processes, national interests may be subordinated to arrangements formulated outside public scrutiny.