In a significant development within Belize’s telecommunications sector, the Northern Caucus of the governing People’s United Party has unanimously endorsed Belize Telemedia Limited’s proposed acquisition of Speednet (Smart). The endorsement emerged from a special meeting convened in Orange Walk on Saturday, representing electoral divisions across Corozal, Orange Walk, and Belize Rural South.
According to caucus representatives, BTL executives presented a comprehensive case for the consolidation, emphasizing how the merger would eliminate redundant operations, enhance efficiency, and facilitate substantial infrastructure investment. The company projects that these operational improvements would translate into superior service quality, expanded network coverage, and accelerated technological advancements for consumers nationwide.
Financial projections presented to caucus members indicate potential revenue growth from approximately $167 million to $207 million following the acquisition. Notably, dividends per share are forecast to surge by over 200%, potentially benefiting major institutional shareholders including the Social Security Board of Belize. This financial boost could contribute significantly to the long-term viability of the Social Security Fund.
This political endorsement contrasts sharply with mounting public opposition. Last Tuesday, United Democratic Party supporters and several labor unions staged demonstrations outside BTL headquarters, demanding increased transparency regarding the acquisition terms. The UDP has announced plans for additional protests scheduled for Wednesday.
Simultaneously, the Belize Communications Workers for Justice conducted separate demonstrations on Friday, highlighting unresolved severance payment issues and announcing intentions to maintain protest activities throughout the week. This opposition underscores the complex stakeholder landscape surrounding the proposed telecommunications consolidation.