分类： business

In response to a groundbreaking investigative report by News Five, Belizean Prime Minister John Briceño has declared current legislation insufficient to combat sophisticated financial crimes emerging from the country’s Business Process Outsourcing (BPO) sector. The January 29th exposé revealed a widespread credit card scam operation involving former BPO employees who confessed to stealing sensitive financial information from international clients.

The Prime Minister emphasized the critical importance of protecting the BPO industry, which currently provides employment for over 20,000 Belizeans and contributes more than $150 million annually to the national economy through salaries alone. “We need to ensure they can feel safe operating here,” Briceño stated, acknowledging the vulnerability of both domestic and international victims.

Despite the industry’s significant economic impact, the investigation uncovered multiple business victims and featured rare testimony from a former BPO employee who admitted to systematically stealing dozens of credit card details. This revelation has created urgent pressure for legislative reform.

The Prime Minister’s proposed solution involves implementing targeted, tougher laws specifically designed to pursue scammers “to the full extent of the law.” He emphasized the need for comprehensive measures that would empower authorities to more effectively investigate and prosecute those exploiting the BPO infrastructure for fraudulent activities.

This development occurs alongside other national policy discussions, including Belize’s eight-year offshore oil ban, highlighting the government’s balancing act between economic development and regulatory oversight in key industries.

The National Trade Union Congress of Belize (NTUCB) has issued a formal demand for the immediate suspension of Belize Telemedia Limited’s proposed acquisition of Speednet Communications, operating as SMART. This development follows organized protests by opposition politicians and labor unions outside BTL’s Belize City headquarters this week, signaling growing resistance to the telecommunications consolidation.

The NTUCB’s January 26th position statement frames the proposed transaction as a matter of significant public interest rather than merely a commercial arrangement. The labor organization has raised multiple substantive concerns regarding valuation methodology, competitive impacts, employment consequences, and corporate governance standards.

Valuation integrity represents a primary concern, with the NTUCB asserting that the current assessment lacks proper independence. According to their analysis, the evaluating firm maintains established ties to BTL and received compensation from the acquiring entity, potentially compromising objective assessment. The Congress consequently demands a new valuation conducted by an accredited independent technical entity that would comprehensively evaluate assets, financial performance, and customer base value.

Competition considerations form another critical aspect of the opposition. The NTUCB references Section 42 of Belize’s Telecommunications Act, which expressly prohibits arrangements that substantially reduce market competition. The organization warns that merging the dominant industry incumbent with its largest competitor risks creating a telecommunications monopoly that would undermine market discipline and regulatory effectiveness once alternative providers disappear from the marketplace.

Regarding employment impacts, the NTUCB anticipates potential job losses at both organizations and expresses concern about jeopardizing redundancy services essential for business continuity. Notably, no independent socio-economic impact study has been made publicly available to assess effects on workers, consumers, or broader national interests.

The labor body further questions corporate governance standards at BTL, suggesting the board permitted a conflicted valuation process to advance without adequate independent scrutiny. The NTUCB has called for the chairman’s recusal from acquisition proceedings and demanded enhanced fiduciary oversight mechanisms.

Significantly, the NTUCB highlights public stewardship implications, noting that worker contributions held through the Social Security Board are invested in BTL. This connection raises concerns about exposing public funds to undue risk through the proposed transaction.

As immediate remedial measures, the organization demands suspension of the acquisition pending prior written approval from the Public Utilities Commission—a step they assert is legally mandated. Additionally, the NTUCB advocates for national consultations and legislative reviews to strengthen worker protections, consumer safeguards, corporate stability, and constitutional freedoms within a consolidated telecommunications environment.

The Congress has committed to continued engagement with social partners and pursuit of lawful avenues to challenge the transaction in its current form, noting that the Telecommunications Act provides mechanisms for the public to seek court orders preventing unlawful mergers and compelling regulatory compliance.

This stance aligns with political opposition recently voiced by the United Democratic Party. Opposition Leader Tracy Panton has previously raised transparency, financing, and accountability concerns, particularly given BTL’s status as a public institution. Earlier this week, UDP representatives joined union members in protests outside BTL’s headquarters, demanding full disclosure and enhanced safeguards before any transaction proceeds.

Belize’s export economy experienced a severe contraction in December 2025, with official data revealing a dramatic 68.2% decline in domestic export earnings compared to the same period in 2024. The Statistical Institute of Belize reported total exports plummeted to $24.5 million from $77.0 million the previous year, marking the most significant monthly downturn of the year.

The collapse was predominantly driven by the absence of bulk sugar shipments, which accounted for a staggering $49.9 million reduction in earnings. While December 2024 had seen substantial sugar exports totaling $52.4 million, the same month in 2025 recorded merely $2.5 million in sugar revenue. This timing discrepancy in major shipments was identified as the primary factor behind the drastic year-over-year comparison.

Multiple export sectors faced parallel declines. Molasses exports deteriorated by $2.7 million, alcoholic beverages decreased by $1.4 million, and citrus products fell by $1.1 million due to reduced orange concentrate sales. Animal feed and marine products also registered declines of $1.0 million and $0.3 million respectively, with the latter attributed to weaker lobster tail sales.

Amid the widespread downturn, banana exports emerged as a notable bright spot, increasing by $2.4 million to reach $9.0 million. Smaller gains were observed in cattle and pineapple concentrate exports, which rose by $0.5 million and $0.4 million respectively.

The export contraction manifested across key international markets. United Kingdom revenues collapsed by $49.8 million, directly mirroring the sugar shipment absence. The United States market declined by $4.7 million, while CARICOM countries saw a $1.9 million reduction. Conversely, exports to the European Union increased by $3.6 million supported by banana sales, and Mexico recorded a $0.7 million gain from stronger cattle exports.

For the full year 2025, Belize’s total domestic exports reached $390.0 million, representing a $74.0 million (16.0%) decrease from 2024. The annual decline was again led by sugar, which dropped $68.6 million due to both reduced quantities and less favorable pricing. Several traditional export commodities including molasses, citrus products, and alcoholic beverages contributed to the annual downturn.

Partially offsetting these losses, marine products rose by $9.2 million, bananas increased by $6.9 million, cattle exports climbed by $4.3 million, and crude soybean oil gained $3.0 million. The data indicates that while December’s extreme contraction resulted primarily from shipment scheduling anomalies, the broader annual decline reflects more fundamental challenges including reduced export volumes and weaker global prices across multiple commodity sectors.

Prime Minister John Briceño has announced a dual-focused approach to Belize’s burgeoning Business Process Outsourcing (BPO) sector, pledging aggressive action against fraudulent operations while defending the industry’s substantial economic contributions. The government’s renewed vigilance follows investigative reports by News Five revealing sophisticated credit card scams originating from within call center operations.

Briceño emphasized the necessity of pursuing scammers targeting both domestic and international victims with equal determination. “I agree with you 100% that we need to go after anyone that’s scamming, not only our citizens, but people outside of Belize from these BPOs,” the Prime Minister stated during his interview with News Five.

The crackdown initiative gains urgency amid concerns about legislative adequacy. Businessman Lee Mark Chang previously received police confirmation that existing laws, including the 2021 Electronic Funds Transfer Act, lack sufficient enforcement mechanisms despite victims retaining the right to file formal complaints.

While acknowledging he hadn’t received direct complaints from Chang, Briceño confirmed awareness of concerns raised with law enforcement agencies. He called for strengthened measures to ensure successful prosecution of fraudulent operators, questioning “How is it that we can go after these scammers? And we need to go to them to the full extent of the law.”

Concurrently, the Prime Minister highlighted the BPO sector’s critical economic role, revealing it employs over 20,000 Belizeans and distributes more than $150 million in annual salaries. Briceño expressed gratitude for the industry’s contributions, emphasizing the government’s commitment to ensuring legitimate companies “can feel safe to operate here” through enhanced regulatory oversight and enforcement protocols.

Belize has embarked on a transformative renewable energy journey with the official launch of a major solar power initiative spearheaded by Belize Electricity Limited (BEL). In collaboration with the Government of Belize and supported by the International Finance Corporation (IFC) of the World Bank Group, the project aims to develop up to 80 megawatts of utility-scale solar capacity across multiple locations nationwide.

The groundbreaking initiative commenced with a Request for Prequalification process, inviting experienced private-sector developers to participate in constructing large-scale solar photovoltaic facilities. BEL is leading this ambitious undertaking in partnership with the Ministry of Public Utilities, Energy and Logistics, marking a significant step in the country’s transition toward clean and sustainable energy infrastructure.

Technical and advisory support is being provided by the IFC under the World Bank Group’s Scaling Solar program, which promotes transparent and competitive renewable energy development. This assistance is funded through contributions from the Government of Japan and the Global Infrastructure Facility, ensuring international expertise and financial backing for the project.

The solar developments will operate under an Independent Power Producer framework, where private developers will assume responsibility for designing, financing, constructing, owning, operating, and maintaining the solar facilities over a 25-year period. These independent producers will supply generated electricity directly to Belize’s national grid, creating a sustainable public-private partnership model.

This strategic move follows recommendations outlined in Belize’s Least Cost System Expansion Plan, which addresses the nation’s growing electricity demands while prioritizing increased utilization of local renewable resources. The solar initiative directly supports Belize’s ambitious national target of achieving 75 percent renewable electricity generation by 2030, reducing dependence on imported power, and enhancing overall energy security and grid reliability.

The prequalification process represents the initial phase of a competitive selection procedure, with only companies meeting stringent technical and financial criteria advancing to submit comprehensive proposals in subsequent stages. Complete details regarding the prequalification requirements and process are available through BEL’s official channels, with both BEL and the Government of Belize actively encouraging qualified international and domestic developers to participate in this landmark energy transformation project.