SSB Puts BTL-SMART Decision on Hold 

The Social Security Board has again deferred a decision on Belize Telemedia Limited’s proposed acquisition of Speednet. SSB Board members have cited the need for more information before making a final decision.

Board members met in Belmopan on Wednesday instead due to the planned UDP demonstration at its Belize City headquarters. The board reviewed details at hand on the proposed acquisition, including SSB’s financial exposure, being that it already holds more than 34% of BTL shares.

No vote was taken. The board agreed that further clarification and analysis were required and confirmed that no approval has been granted.

It is the second such deferral. On January 9, News 5 confirmed that SSB Chairperson Chandra Nisbet-Cansino resigned as the board’s representative on BTL. She was reported to have opposed BTL’s acquisition. One board member told News 5, “Members want more information.”

In a statement prior to Wednesday’s protest, the National Trade Union Congress of Belize (NTUCB) said there has been no meaningful disclosure or consultation with contributors whose money is at stake.

The NTUCB insists SSB should publicly oppose the deal until full due diligence is completed and contributors’ concerns are addressed.