作者： admin

In a landmark development for Belize’s telecommunications sector, state-owned Belize Telemedia Limited (BTL) has formally announced its intention to acquire multiple private operators including Speednet, Central Television and Internet, and Southern Cable Network. The proposed consolidation, valued at approximately $170 million, represents one of the most significant financial maneuvers in the nation’s telecom history.

Chairman Markhelm Lizarraga broke months of speculation during a pre-board meeting press briefing, characterizing the move as an ‘industry rationalization and unification’ initiative that has been under consideration since 2018. Lizarraga emphasized the economic rationale behind the consolidation, citing extensive duplication in billing systems, software licensing, and infrastructure that ultimately burdens consumers with higher costs.

The acquisition strategy faces immediate scrutiny regarding governance and transparency. Journalists highlighted potential conflicts of interest, noting that Lizarraga’s brother holds ownership stakes in Central Television and Internet, while Prime Minister John Briceno—who appointed Lizarraga—has family interests in Speednet. These connections raise fundamental questions about whether a publicly-owned entity is acting in the national interest.

BTL management contends that the consolidation will generate substantial operational efficiencies through combined revenues and eliminated redundancies in power consumption, marketing, HR, IT, and tower infrastructure. The company projects the investment will achieve full payback within four years through enhanced annual cash flow. Consumer services are expected to remain unchanged regarding phone numbers and service offerings, with potential future price reductions subject to Public Utilities Commission benchmarking against competitive markets.

The absence of public consultation has drawn sharp criticism from civil society and labor organizations. The National Trade Union Congress of Belize has demanded immediate suspension of acquisition proceedings, full disclosure of beneficial ownership structures, and transparent national consultations. BTL maintains that as a private company, its decisions require public disclosure rather than consultation, though the government’s majority ownership implies significant public stakeholding.

As the proposal advances under increasing public scrutiny, the fundamental tension between corporate efficiency and public accountability remains unresolved. With hundreds of millions in public assets at stake, the outcome will likely reshape Belize’s telecommunications landscape for generations.

A significant corporate governance crisis has emerged in Belize’s telecommunications sector following the resignation of Social Security Board Chair Chandra Nisbet-Cansino from the board of Belize Telemedia Limited (BTL). The resignation, confirmed by News Five on January 9, 2026, stems from opposition to a proposed acquisition plan that has triggered widespread concern about financial risk management and transparency.

The situation has escalated with the National Trade Union Congress of Belize (NTUCB) issuing strong warnings about the potential jeopardy to workers’ pension funds. With the Social Security Board holding a substantial thirty-six percent stake in BTL, the union body emphasizes that workers’ contributions should not be exposed to speculative ventures lacking proper valuation, transparency, and parliamentary oversight.

NTUCB President Ella Waight and General Secretary Timothy Dami revealed concerning details about their recent meeting with Prime Minister Briceño, noting that the acquisition plan was never discussed during their lengthy conversation. Both union leaders expressed frustration at the administration’s failure to address their concerns despite the significant implications for national pension funds.

The controversy deepened as BTL’s board meeting to consider the acquisition was reportedly deferred due to absent members, with indications that a second board member may have resigned following Nisbet-Cansino’s departure. Union representatives have highlighted the particular risk of acquiring what they characterize as ‘dying industries’ in the current technological landscape, with Dami questioning the logic of investing in cable services in 2025.

The NTUCB has formally demanded an immediate halt to acquisition proceedings, full disclosure of beneficial ownership, and a transparent national consultation process. The organization has already begun mobilizing its membership in response to what it perceives as a threat to the financial security of Belizean workers.

A coalition of Independent Senators in Belize has formally demanded an immediate suspension of the proposed acquisition of Belize Telemedia Limited (BTL) commercial interests, escalating concerns about potential market domination in the nation’s telecommunications sector. The diverse group—representing business, religious, non-governmental, and labor interests—issued a joint statement aligning with earlier objections raised by both the National Trade Union Congress of Belize and the Belize Chamber of Commerce and Industry (BCCI).

The senators emphasized that the transaction requires comprehensive independent valuations and full transparency regarding its justification before any regulatory approvals proceed. Their primary concern centers on the deal potentially creating a telecommunications monopoly that could disadvantage consumers and undermine market competition.

This political development follows Thursday’s press conference where BCCI President Giacomo Sanchez articulated the business community’s position. While not outright rejecting the acquisition, Sanchez emphasized that robust legislative safeguards must precede any further discussions. He specifically highlighted concerns about asset evaluation and the need to prevent future ‘flipping’ of the telecommunications provider.

Sanchez stated: ‘If proper evaluation reveals the acquired assets are in a retrograde position, we would effectively be moving backward. However, if these represent suitable assets, viability exists. Our opposition isn’t to the transaction per se, but to the current structure which lacks sufficient guardrails against future ownership fluctuations of BTL.’

The converging opposition from civil, business, and political sectors creates significant pressure on regulators to implement comprehensive legislation before considering the acquisition’s progression.