Belize Telemedia Limited (BTL) has identified a significant financial opportunity through its proposed merger with Speednet, claiming that consolidation could reverse years of substantial foreign exchange losses from roaming services. According to BTL’s financial analysis, cut-throat competition between the two telecom providers has created a destructive price war that primarily benefits American carriers at Belize’s expense.
Chief Financial Officer Ian Cleverly revealed that the intense rivalry has driven roaming rates to unsustainable lows while U.S. carriers continue charging visitors between $3-5 daily. This imbalance has resulted in an estimated $40-50 million in lost U.S. dollar revenue over the past five years—hard currency that never entered Belize’s economy.
The competitive dynamic has created what Cleverly describes as a ‘race to the bottom,’ where both companies have suffered financially while foreign carriers capture most of the value. The CFO emphasized that the only beneficiaries of this arrangement have been American telecommunications companies that maintain their premium rates regardless of the local price war.
BTL contends that a merged entity would restore Belize’s bargaining power in roaming negotiations and retain more revenue domestically. By eliminating internal competition, the consolidated company could establish more sustainable pricing models and reclaim a fair share of the roaming market value. This strategic move aims to stabilize the telecommunications sector while boosting national foreign exchange reserves.