On June 4, 2026, as public tensions played out in the streets outside Belize’s National Assembly, a high-stakes strategic economic policy debate was unfolding inside the chamber, centered on a transformative proposal from Prime Minister John Briceño’s administration. The government is seeking legislative approval to allocate $73 million from the country’s consolidated revenue fund to acquire a majority stake in Belize Electricity Limited (BEL), the nation’s primary power provider, in a move the prime minister frames as a cornerstone of the government’s broader energy sovereignty agenda.
Under the terms of the legislation tabled before lawmakers, the government will purchase just over 8.1 million non-voting preferred shares at a price of $9 per share. The share price breaks down into a $2 par value per share and a $7 share premium per security. If approved, the bill will authorize Belize’s Financial Secretary to complete the transaction through a formal subscription deed, which outlines binding pre-conditions that both parties must meet before the acquisition can be finalized.
Per the deed’s requirements, the Government of Belize must first align all relevant domestic legislation to accommodate the expanded state ownership of the utility. On BEL’s side, the company is required to submit all required corporate documentation, including updated board memoranda, audited annual financial statements, and secure all necessary regulatory approvals from national energy oversight bodies before the transaction closes.
Prime Minister Briceño emphasized the long-term strategic value of the move during debate on the bill, framing the acquisition as a key step forward for the administration’s core policy goal of expanding domestic national ownership and state influence over Belize’s critical energy infrastructure. “This bill represents another step in the government’s broader policy objective of increasing national ownership and influence within Belize’s electricity sector,” Briceño told lawmakers, noting that greater state control over the power supply will strengthen the country’s energy security and align the utility’s operations more closely with national public interest priorities.
This report is adapted from a transcript of an original evening television news broadcast.