Shyne Barrow Says “A Monopoly Benefits the Belizean People”

Former UDP leader Moses “Shyne” Barrow says the proposed acquisition of Speednet by Belize Telemedia Limited (BTL) could benefit Belizean shareholders, noting that monopolies already exist in other sectors.

“We have a monopoly with Belize Electricity; we have a monopoly with Belize Water Services. So I am not sure I am totally convinced of the argument that a monopoly is bad for the shareholders, which are the Belizean people,” he told News Five. Barrow added that there is nothing to indicate the acquisition would prevent other telecom companies from entering the market.

He, however, criticised the chairman of the BTL board for mishandling the presentation in their press briefing, describing it as “a disastrous job of convincing the public”. Barrow rejected the chairman’s claim that BTL is a private company: “It is a PPP [Public-Private Partnership] majority owned by the people of Belize, which is why I would be open to supporting the acquisition. Because a monopoly benefits the Belizean people,” he said.

Barrow also criticised UDP Leader Tracy Panton for meeting Ashcroft aboard his yacht. “The timing and the location was ill‑advised… There has been no discussion in the United Democratic Party that I am aware of. Lack of transparency is not one that she should dare talk about,” he said.

Barrow said that while he does not necessarily support the deal, the way it was presented has fuelled public mistrust. “I am not outright opposed to the acquisition, but the way that it was presented, I understand why people have concerns.”

Meanwhile, Prime Minister John Briceno said BTL’s board should act in its own best interest, and Panton is demanding transparency before the deal progresses.