Dated July 3, 2026, a new round of opposition-led scrutiny over government-linked special purpose vehicles (SPVs) in Belize has pushed a high-profile resignation back into the public spotlight, following years of lingering controversy over a major public investment project.
The controversy first erupted in 2023, when media reports revealed that Belize’s Social Security Board had proposed a $20 million investment into a new public administration complex developed by Public Administration Campus 1 Limited, an SPV set up for the infrastructure project. Ivan Tesucum, a leading Belizean finance professional who also serves as chief executive officer of local firm Digi, took a seat on the SPV’s board of directors after its formation.
Widespread public pushback eventually halted progress on the administration complex project, but the United Democratic Party, Belize’s main opposition bloc, has recently ramped up its oversight of government-linked contracts and public-private partnerships, bringing new attention to the SPV and reports that Tesucum stepped down from his board role. In a recent on-camera interview with local journalist Shane Williams, Tesucum confirmed the resignation and addressed speculation around his exit.
When asked to confirm his former membership and subsequent departure from the government-developed SPV, Tesucum acknowledged that he had served on the board as the designated finance representative for the Social Security Board, and that he had formally resigned from the position months prior. Pressed for details on why he chose to leave the role, Tesucum attributed his exit entirely to personal time constraints, rather than political or financial controversy.
“At the end of the day, I am leading Digi, and that is my full priority,” Tesucum explained. “My core focus right now is delivering lasting value for all of Digi’s shareholders across Belize. Every dividend we declare and every profit we earn flows back to the people of this country: it goes to the Government of Belize, the Social Security Board, the Central Bank of Belize, and more than 1,500 independent private shareholders. Dividing my attention between the SPV board and my leadership role at Digi was no longer feasible.”
This report is adapted from a transcribed evening television news broadcast, with local Kriol language phrases standardized to conventional spelling for print publication. Readers can access the full unedited broadcast via the original publication’s website.