BELIZE CITY – A proposed telecommunications merger between Belize Telemedia Limited (BTL) and Speednet (trading as SMART) has ignited significant controversy, drawing sharp criticism from labor representatives and opposition figures. The Belize Communication Workers Union (BCWJ) has escalated tensions by publicly characterizing Speednet as an antiquated entity offering negligible value to BTL, demanding comprehensive financial transparency before any deal proceeds.
The core dispute centers on a profound lack of disclosure regarding Speednet’s financial health and asset portfolio. Protestors assembled outside BTL headquarters this week voiced frustrations, stating they remain completely uninformed about critical details of the merger, including a clear breakdown of assets, liabilities, and corporate debts. This opacity has fueled demands for full transparency from all stakeholders involved.
When confronted by reporters, Labor Minister Kareem Musa faced direct questioning regarding SMART’s purported annual revenue, which reports suggest exceeds ten million dollars. The dialogue highlighted central concerns about the company’s profitability and tangible value. Minister Musa, representing the Caribbean Shores constituency, acknowledged these concerns are legitimate factors the BTL board must rigorously assess.
Minister Musa emphasized the necessity of a meticulous evaluation process, stating, “What is the value of acquiring Speednet? Are you just acquiring the customers or are you acquiring the towers?… How valuable are those towers in modern day technology?” He expressed approval for a delayed decision, noting that a provisional approval, previously reported in media circles, was wisely postponed to allow for broader consultation with all relevant stakeholders. This pause, according to Musa, provides essential time for a thorough forecast of the long-term viability of Speednet’s infrastructure over the next several decades.