分类： business

In a significant policy shift, the Belizean government has officially removed price controls on prepackaged retail sugar, a move defended by Prime Minister John Briceño as beneficial for sugarcane farmers. The new regulations create a clear distinction between bulk sugar sold by weight, which remains under strict price control, and branded, pre-packaged sugar products now open to market competition.

Prime Minister Briceño clarified the policy framework during a recent press engagement: “What we have done is that with sugar being sold in bag that they weigh for you, that is being controlled. What is not controlled is the one packaged, with the label and all of that—one-pound, five-pound bags. That is not controlled and that is open to anybody who wants to package.”

The policy change enables multiple market participants—including Santander Sugar, local entrepreneurs, and even cane farmers themselves—to package and sell sugar directly to consumers. This deregulation represents a substantial departure from previous market restrictions that limited packaging operations primarily to Belize Sugar Industries (BSI).

When questioned about Santander’s potential dominance in local markets, PM Briceño acknowledged ongoing discussions regarding the company’s future role. Santander, which is developing sugar refining capabilities expected to become operational within one to two years, has expressed interest in accessing the domestic market.

The Prime Minister firmly rejected concerns that market liberalization might disadvantage local cane growers (caneros), stating: “Whenever we sell sugar on the local market the caneros benefit.” He emphasized that farmers retain the option to package and market their own sugar, potentially capturing additional value from the supply chain previously retained by processors.

This policy revision fundamentally alters Belize’s sugar market dynamics, introducing competitive packaging opportunities while maintaining consumer protections for traditionally weighed sugar purchases.

Marie Sharp, the visionary founder behind Belize’s iconic condiment empire, has secured a prestigious position on Forbes magazine’s 2026 “50 Over 50 Global” list. This distinguished recognition celebrates exceptional leaders and innovators who have achieved significant international impact during their later careers.

Sharp’s culinary journey began modestly in 1981 when she started producing pepper sauces from her home kitchen. Through decades of relentless refinement and dedication, she transformed her homemade recipes into a globally recognized brand that now distributes authentic Belizean flavors across nearly forty international markets. Her product line has expanded to include diverse offerings from signature pepper sauces to fruit jams, becoming essential culinary staples both within Belize and worldwide.

In an exclusive interview following the announcement, Sharp expressed profound gratitude while emphasizing the collective nature of this achievement. “This recognition transcends individual accomplishment,” she noted. “It belongs equally to my dedicated team, my supportive family, and the Belizean community that championed our products from the very beginning.”

The entrepreneur recounted her humble beginnings, detailing how she personally marketed early product batches door-to-door with refried tortillas as tasting accompaniments. Her persistence through continuous product improvements—responding to feedback about color intensity, heat levels, and flavor profiles—eventually led to the construction of her first manufacturing facility on the family farm.

Sharp’s inclusion on the Forbes list highlights the growing recognition of entrepreneurs who achieve global success while preserving cultural authenticity. Her story embodies the spirit of continuous innovation and cultural ambassadorship that defines the most impactful late-career achievements in today’s interconnected business landscape.

The burgeoning credit card fraud investigation in Belize has prompted a decisive response from the nation’s Business Process Outsourcing (BPO) sector. This development follows an explosive investigative report by News Five that exposed alleged fraudulent activities connected to individuals within the industry.

Prime Minister John Briceño has officially confirmed that multiple investigations are currently underway, triggered by international complaints from victims who reported unauthorized credit card transactions traced back to Belizean operations.

The Belize Business Process Outsourcing Association has adopted a transparent approach to addressing these serious allegations. While acknowledging the existence of illicit activities within certain segments of the sector, the association emphatically states that these practices do not reflect the operational standards of legitimate BPO enterprises in Belize.

Industry representatives have highlighted the rigorous compliance protocols maintained by established BPO operators, including Payment Card Industry (PCI) certification, secured data environments, and regular external audits. These measures are implemented to ensure data integrity and financial security for international clients.

The association simultaneously emphasized the sector’s critical economic importance to Belize, noting that the industry employs approximately 20,000 Belizeans and generates an estimated $150 million in annual wages. This economic significance underscores the urgency of addressing security concerns while preserving the industry’s legitimate operations.

In response to the unfolding scandal, the BPO association has initiated collaborative efforts with member companies to enhance security frameworks and facilitate full cooperation with law enforcement agencies. The industry’s proactive stance aims to mitigate reputational damage while addressing systemic vulnerabilities.

Further developments are anticipated as the investigation progresses, with additional revelations expected in subsequent news coverage.

The Belize Business Process Outsourcing Association (BBPOA) has formally addressed mounting concerns regarding sophisticated credit card fraud operations potentially linked to the nation’s BPO sector. This response follows an investigative report by News Five that uncovered substantial financial losses suffered by local businesses through fraudulent transactions originating from compromised payment data.

In its official statement, the BPO trade group unequivocally condemned all forms of financial fraud and data misuse while emphasizing its commitment to cooperate with ongoing investigations. Notably absent from the association’s communication was any acknowledgment regarding whether specific member companies are currently under investigation or if internal security breaches might have facilitated the alleged criminal activities.

The association’s response strategically highlighted the industry’s substantial economic contributions, noting that Belize’s BPO sector employs approximately 16,000-20,000 citizens and generates roughly US$150 million in annual wages. While underscoring this significant economic footprint, the statement provided limited concrete information addressing potential security vulnerabilities within member organizations.

BBPOA officials pointed to existing compliance measures including Payment Card Industry Data Security Standard (PCI DSS) certification, advanced encryption systems, restricted access protocols, and regular third-party audits as evidence of robust governance frameworks. The association further announced collaborative efforts with member companies to reexamine security procedures and strengthen compliance standards.

Despite pledging support for a ‘thorough and transparent investigation,’ the trade group stopped short of committing to public disclosure of internal review findings or outlining potential consequences for member companies where security deficiencies might be identified. This cautious approach has raised questions about accountability mechanisms within the rapidly growing industry.

The Belizean government’s landmark public offering of Hydro Belize Limited shares has concluded with exceptional investor enthusiasm, recording oversubscription by approximately 500,000 shares. Preliminary data indicates applications reached roughly 4.5 million shares, significantly surpassing the four million shares initially available to investors at BZ$29 per share, translating to over $130 million in total application value.

The offering represented 50% of the company’s total issued shares, with the government confirming it will fulfill all excess demand by allocating additional shares from its retained 50% stake. The investment initiative attracted nearly 2,000 individual investors alongside more than 60 corporate entities, including major institutional participants such as the Belize Social Security Board, multiple credit unions, and private sector pension funds.

Successful applicants have until February 4, 2026, to finalize payments, with share transfers and certificate issuance scheduled following the payment closure period. In a parallel development, the government announced Hydro Belize Limited’s forthcoming bond issuance program designed to repurchase and cancel the state’s remaining shares. This strategic maneuver enables full government cost recovery while creating new debt investment opportunities, with complete divestment targeted by February 28, 2026.

Post-divestment, Hydro Belize Limited will transition to full private sector ownership with approximately 2,000 public shareholders. The company, previously operating as Fortis Belize Limited, maintains ownership and operational control over three hydroelectric facilities along the Macal River in the Cayo District. These installations collectively generate 51.2 megawatts of rated capacity, currently supplying 30-35% of Belize’s national electricity requirements.

Marie Sharp, the visionary Belizean entrepreneur behind the iconic hot sauce brand, has secured a prestigious position on Forbes Magazine’s 2026 50 Over 50 Global roster. This distinguished compilation honors extraordinary leaders, founders, and innovators across 36 nations who are driving transformative change in diverse sectors from aviation to mining.

The Forbes recognition specifically celebrates individuals who have achieved record-breaking accomplishments, pioneered revolutionary technologies, or developed medical treatments with potential global impact. Sharp’s inclusion reflects her remarkable journey from educator to culinary innovator.

Her entrepreneurial story began following her teaching career when she started experimenting with habanero peppers and garden vegetables. While maintaining full-time employment at the Citrus Company, Sharp developed her distinctive recipes, initially sharing them with family before friends encouraged commercial production. In 1981, she launched her sauce venture, which rapidly gained popularity and expanded into the lucrative United States market.

A significant trademark challenge prompted strategic rebranding, leading to the 1992 establishment of Marie Sharp’s Fine Foods. The company has since evolved into a comprehensive provider of artisanal sauces, jams, and specialty seasonings. The industry formally acknowledged Sharp’s culinary contributions in 2016 with her induction into the Hot Sauce Hall of Fame.

Forbes positioned Sharp at number 85 within their global ranking, highlighting her as an exemplar of entrepreneurial perseverance and innovation. Her recognition underscores the growing global appreciation for Caribbean culinary traditions and female entrepreneurship in the food industry.

In a significant policy shift, the Belizean government has eliminated price controls on retail sugar products, a move defended by Prime Minister John Briceño as beneficial for both market competition and sugarcane farmers. The January 21st announcement clarifies that while bulk sugar in standard bags remains regulated, pre-packaged retail units (including one-pound and five-pound bags) are now exempt from price controls.

Prime Minister Briceño emphasized that this deregulation creates new market opportunities, allowing any enterprise or individual to purchase bulk sugar and package it for retail sale. “This is open to anybody that would want to be able to package,” Briceño stated, specifically mentioning that Santander Sugar Limited—currently prohibited from direct local sugar sales—could now participate in the retail market through prepackaged products.

The policy change addresses Santander’s ongoing request to sell its refined sugar domestically, though Briceño noted this separate matter remains under governmental review. Importantly, the Prime Minister asserted that sugarcane farmers (cañeros) continue to benefit from local market sales regardless of packaging format, as Belize Sugar Industries (BSI) purchases sugarcane from growers before processing and packaging operations.

This market liberalization represents a shift from previous protectionist measures and is expected to stimulate competition in Belize’s retail sugar sector while maintaining support for agricultural producers through the existing bulk sugar price control mechanism.