Why Tesucum Resigned from Special Purpose Vehicle

The United Democratic Party has intensified its scrutiny of government-linked Special Purpose Vehicles, and one resignation is drawing attention. Public Administration Campus 1 Limited first sparked controversy in 2023 when reports emerged that the Social Security Board planned to invest more than $20 million in its proposed administration complex. Ivan Tesucum, a finance professional, joined the company’s board as a director. Although public opposition stalled the project, renewed scrutiny of government contracts and partnerships has brought fresh attention to reports that Tesucum has stepped down from the joint venture. We asked him why he decided to walk away.

 

Shane Williams

“Were you a part of any special purpose vehicle that was developed by the government and according to them, you’ve resigned from certain special purpose vehicles?”

 

Ivan Tesucum, CEO, Digi

“I was a member of one for the I believe it’s for the social – as a Social security board being the finance individual. But yes, afterwards I resigned from it as well.”

 

Shane Williams

“Why was that resignation?”

 

Ivan Tesecum

“Just personal. I don’t have time. I’m running Digi at the end of the day, and that’s my focus. My focus is to ensure that we – that I continue to create value for the great shareholders of Belize because each and every one of us who are here, all of you who are interviewing me, are shareholders of that. “When we make a profit and we are able to declare dividends, that goes back to the government of Belize, to the social security board, to the central bank, and to the fifteen hundred plus shareholders.” 

 

Attention readers: This online newscast is a direct transcript of our evening television broadcast. When speakers use Kriol, we have carefully rendered their words using a standard spelling system.

 

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