On August 21, 2026, a controversial split vote on a major corporate acquisition has sparked public debate in Belize, after two directors appointed by the Social Security Board (SSB) to the Board of Telecom Belize (BTL) cast opposing votes on BTL’s planned purchase of telecommunications provider Speednet. The conflicting positions from two representatives of the same major institutional stakeholder have left citizens and industry observers questioning what official stance, if any, SSB holds on the high-stakes transaction.
Following a public presentation outlining SSB’s current financial standing, investment portfolio, and strategic priorities, SSB Chief Executive Officer Jerome Palma was pressed by reporter Shane Williams to address widespread public curiosity around the vote and the guidance SSB provided to its nominated BTL board members.
When Williams first asked what internal deliberations SSB conducted ahead of the board vote to inform its representatives’ decisions, Palma declined to expand on details of the decision-making process. He argued that the vote was an internal matter for the BTL board, and that questions on the outcome should be directed to BTL leadership rather than SSB management.
Williams followed up by pressing Palma to confirm whether SSB’s own governing board had taken an official position on the acquisition ahead of the BTL vote. Palma clarified that SSB never held a formal vote to establish an institutional stance, framing the acquisition decision as a matter for BTL rather than the social security fund. He noted that the national cabinet, as the government body holding ultimate decision-making authority over the transaction, has already issued its own position, and redirected all further questions to cabinet and BTL leadership.
When asked whether SSB’s BTL representatives are required to report their voting rationales back to the SSB board, Palma confirmed that the representatives do provide updates. He emphasized that the acquisition represents a major holding for SSB’s investment portfolio, and ongoing monitoring of the asset is a core responsibility of SSB management. However, he again deflected requests to share why the two SSB-nominated directors cast opposing votes, repeating that the inquiry should be directed to BTL and the national government.
Currently, SSB holds three appointments on the 12-member BTL board of directors. Records confirm that of the three SSB representatives, Arturo Lizarraga supported the Speednet acquisition, while the other two nominees – Allan Pollard and Anissa Perdomo – voted against the purchase. This report is a transcribed version of an evening television news broadcast, with all Kriol-language comments transcribed using a standardized spelling system for accessibility.