The Belize Chamber of Commerce and Industry (BCCI) has formally called upon the Government of Belize to immediately suspend the impending acquisition of Speednet Communications (SMART) by Belize Telemedia Limited (BTL). This urgent intervention comes amid revelations that BTL’s board plans to conduct a decisive vote on the merger agreement as early as Tuesday, January 26, 2026.
In an official statement released today, the BCCI emphasized that the government, serving as BTL’s controlling shareholder, possesses both the authority and responsibility to halt any binding board decisions until comprehensive stakeholder consultations are conducted. The Chamber has secured a scheduled meeting with BTL representatives for Wednesday, but strongly cautioned that any pre-meeting decision would render the engagement meaningless and demonstrate “profound disregard” for legitimate business community concerns.
BCCI President Giacomo Sanchez expressed deep concern about indications that early approval might be pursued without proper dialogue. “We align with the concerns raised by our social partners and reiterate that decisions of this magnitude—particularly those with implications for competition, public funds, and consumers—must be informed, transparent, inclusive, and not rushed,” Sanchez stated in his official communication to News Five.
The Chamber’s intervention significantly amplifies growing opposition to the telecommunications merger, joining previously vocalized objections from labor unions and civil society organizations. Sanchez further warned that proceeding without appropriate stakeholder engagement risks eroding public confidence and violating fundamental principles of good corporate governance. This development marks a critical juncture in one of Belize’s most significant potential telecommunications industry consolidations, with implications for market competition, consumer choice, and national economic policy.