Resignation and Union Alarm Over BTL Acquisition Plan

News Five has confirmed that Social Security Board Chair Chandra Nisbet‑Cansino has resigned from the board of Belize Telemedia Limited. Sources indicate that Nisbet‑Cansino opposed the proposed acquisition. The development is significant given that the Social Security Board holds thirty‑six percent of BTL’s shares and has now sparked reaction from the National Trade Union Congress of Belize. The NTUCB argues that the acquisition puts SSB funds at undue speculative risk, insisting that workers’ pension contributions should not be jeopardized by a transaction lacking independent valuation, full transparency, and parliamentary oversight. The union body is calling for an immediate halt to all steps toward the acquisition, disclosure of the beneficial owners, and a transparent national consultation. The NTUCB says it has already begun mobilizing its membership.

 

Ella Waight, President, NTUCB

“When we met with the prime minister and brother Tim is here as the general secretary and he can verify what I am saying. The conversation did not come up about the acquisition and the information was not volunteered and as of today we have not heard from any member of the Briceño administration or the prime minister to clarify any of our concerns.”

 

Timothy Dami, General Secretary, NTUCB

“And if it was something that he had in mind, it was not something that he brought up. So, for it to come up now like this, it obviously had to be on his mind, because this did not have overnight. So, for whatever reason, we did have a long meeting with the prime minister that day, but like President Ella is saying there is a degree of likelihood that NTCUB could support the purchase. But the fact is we don’t have the information.”

 

Ella Waight

“This morning I know the chairman of BTL when one of the reporters told him that NTUCB had sent out a press release and stated the three request, he simply said noted. I could understand that to an extent because he did not read it. But at least he could understand and I know he does know that the NTUCB is aware of our concerns rooted in the responsibility to safeguard workers contributions, particularly given the SSB significant shareholding in BTL.”

 

Tim Dani

“This is the people’s money that is being risked with to put something like this. I think it is very important to understand that. And BEL itself is running a risk of taking over industries that are dying. They are taking over industries that are dying. Who has cable in 2025? I am sixty and don’t have cable.”

 

BTL’s board met earlier today to consider the proposed acquisition, but reports indicate the matter was deferred after several board members failed to attend the meeting. As previously reported, Chandra Nisbet‑Cansino has resigned, and there are also reports that a second board member has since stepped down.