Chamber of Commerce Urges Pause on Telecom Takeover

A possible shake‑up of Belize’s telecommunications sector is drawing sharp warnings from the country’s most influential business group, which says the public is being asked to trust a high‑stakes deal without basic safeguards in place. As speculation grows over a possible takeover of SMART by government‑controlled Belize Telemedia Limited, the Belize Chamber of Commerce and Industry is calling for a pause, saying Belize lacks the competition laws and oversight needed to protect consumers and public funds. The Chamber argues that letting one dominant company absorb another could lock in higher prices, weaker service, and less innovations, especially in a market already short on competition. It also points to unanswered questions about ownership, valuation, and whether public money, including social security funds, could end up carrying the risk. Until clear competition rules, independent valuations, and open public consultation are in place, the Chamber says the national interest may be taking a back seat to a deal being shaped behind closed doors.

 

Giacomo Sanchez, President, Belize Chamber of Commerce and Industry

“The issue of BTL’s past actions raised competition and consumer protection concern. That was an issue for us years ago and the potential for that occurring within the sphere of consolidation continues to be within the forefront of our minds. The response to the Chamber has been consistent and equivocal with what media reports have indicated so far. It is pretty much; you would be operating in the dark. Given that BTL is not a new animal within its own sector, we have a lot of background information, and we can point to where we are in terms of issues and challenges that could be faced. I think we can say to the extent of what we have heard in the news in terms of questions directly to the prime minister the familial connection and ultimately the prime minister has direct oversight of such an entity like BTL. So, fundamentally, and he is the leader of government, so any approval that proceeds then that is where the potential conflict arises.”