In a striking address concluding today’s virtual Senate session, Business Senator Kevin Herrera issued a stern warning regarding the proposed acquisition of Speednet by Belize Telemedia Limited (BTL). Herrera characterized the merger as a “state-sponsored execution of competition” disguised under corporate rhetoric about efficiency and strategic consolidation.
The Senator drew sharp historical parallels to Belize’s previous telecom monopoly in the late 1990s, noting that BTL once enjoyed profit margins of fifty cents on every dollar earned—a period marked by exorbitant pricing that burdened consumers. Herrera emphasized that returning to a single provider system would represent a voluntary return to the restrictive conditions that took decades to overcome.
Responding to BTL’s justification that the merger represents a necessary survival strategy against potential market entry by global satellite provider Starlink, Herrera dismissed this reasoning as “dangerous delusion.” He argued that eliminating local competition rather than fostering innovation would render BTL “a larger, slower, and more bureaucratic target” against international giants.
The Belize Chamber of Commerce and Industry has called for continued transparent consultations with thorough examination of competitive impacts, urging BTL to publicly address mounting concerns. As national consultations progress, Herrera maintains that Belizeans deserve better than reverting to monopolistic structures and challenges BTL to justify the deal before the public.