The National Trade Union Congress of Belize (NTUCB) has issued a forceful condemnation of Belize Telemedia Limited’s (BTL) planned acquisition of telecommunications provider Speednet (Smart), characterizing the proposed transaction as rash and poorly conceived while raising alarms about potential risks to worker-contributed funds.
In a strongly worded statement released Monday, the labor organization expressed profound concern over the Social Security Board’s (SSB) conspicuous silence regarding the matter. The NTUCB emphasized that the SSB bears fundamental responsibility for protecting workers’ financial contributions, stating unequivocally that “workers’ money is not a bargaining chip, nor is it a private investment fund for risky deals.”
While acknowledging support for investments that might enhance the SSB’s fiscal standing, the union stressed that rigorous due diligence and comprehensive stakeholder consultation must precede any such financial commitments. The organization issued a stark warning that “any entity that carelessly assigns workers’ contributions or threatens the economic stability of this country will be held fully accountable.”
The NTUCB further criticized BTL for insufficient transparency and accountability throughout the acquisition process. The union has formally demanded that the SSB immediately adopt a public position opposing the acquisition until thorough due diligence procedures are satisfactorily completed.
To amplify their demands, NTUCB representatives confirmed to News Five that they have initiated procedures to obtain a permit for a demonstration scheduled Wednesday at 11 a.m. outside the SSB headquarters in Belize City.









