SSB Invests Contributors’ Funds in BEL, Projects $4M Return

The Social Security Board (SSB) has invested more than six million dollars in Belize Electricity Limited debentures, a move it says will secure long‑term returns and strengthen the fund’s sustainability.

PR and Communications Officer Vanessa Vellos explained that debentures guarantee repayment, unlike shares which depend on company performance. “If a business is not successful, they still have to pay the debentures,” she said.

SSB purchased the BEL debentures at a discounted price of just over $6.2 million, though the bonds carry a face value of more than $7.1 million. When the investment matures in 2035, the fund expects to collect the full face value along with an estimated $3.2 million in interest. That return is projected to be about $4 million above the initial investment.

Vellos pointed to BEL’s position in the market as a key factor. “It’s a safer kind of investment to make because there isn’t a rival competing electricity provider in the market. It’s only BEL,” she said, adding that the company has historically reported healthy profits and continues to benefit from growing demand for electricity as Belize’s economy expands.

While acknowledging BEL’s recent financial challenges, Vellos said they do not undermine the investment’s security. She explained that SSB’s investment is essentially a loan, and BEL is obligated to repay. “BEL has always honoured the venture investments that we have made with them in the past,” she added.

Vellos stressed that the board conducts thorough analysis before committing funds. “The public can be rest assured that we do proper due diligence for the investments that we make, and we do our analysis. And at the end of the day, they do perform,” she said.