The Belize Chamber of Commerce and Industry (BCCI) has intensified its call for greater transparency in the proposed acquisition of telecommunications provider SpeedNet by Belize Telemedia Limited (BTL). This development follows the government’s recent decision to extend consultation periods after this week’s Cabinet presentation.
In an official statement released today, the BCCI emphasized that transactions of this magnitude necessitate comprehensive, meaningful, and inclusive consultation processes. The Chamber specifically highlighted the critical need to evaluate potential impacts on market competition dynamics, consumer pricing structures, service quality standards, and the broader Belizean economy.
The business advocacy organization has formally invited BTL, which holds membership within the Chamber, to present detailed plans to its Executive Council and broader membership base. This initiative aims to provide essential clarity and create opportunities for stakeholders to pose direct questions regarding the proposed merger. “The fundamental purpose of this engagement is to facilitate transparent and well-informed dialogue,” the BCCI statement clarified.
BTL Chairman Mark Lizarraga has previously contended that the company can efficiently integrate Speednet’s customer base with minimal additional operational costs. This integration, he argues, could potentially protect consumer pricing, preserve employment opportunities, and support the nation’s ongoing digital transformation initiatives.
Despite these assertions, the Chamber maintains that detailed independent analysis and open public discussion remain imperative before any final decisions are made regarding the acquisition. The BCCI has urged all relevant decision-makers to fulfill their regulatory responsibilities by ensuring a process characterized by complete openness and rigorous economic analysis.