Many of the terms used to describe investment opportunities available to Belizeans are often too complex for potential investors to understand. This complexity is a key reason why many Belizeans are not taking advantage of these opportunities. To address this, the Financial Services Commission is launching a smart investor awareness campaign during World Investor Week, from October seventh to thirteenth. This week is recognized annually by the International Organization of Securities Commissions, of which Belize recently became an associate member.
Nilda Sosa
Nilda Sosa, Director of Operations & Corporate Services, FSC
“All IOSCO members and supporters, such as IDB, the World Bank Group and partners of IOSCO to promote this global initiative will be launching investor initiatives and activities. There will be competitions that will focus on the importance of investor education. There will also be webinars and workshops with the objective of educating the public in the different areas that were mentioned. From our perspective, the FSC will be launching an investor center website where resources and tools can be accessed with that investor center, we host the official webpage for World Investors Week and all the resources, information that we will sharing with the public can be accessed through our website at FSCBelize.org.bz. We will also have complementing that a free webinar that FCS will be coordinating for the public. This webinar is called Smart Investing a Guide to Navigating the Securities Landscape. This will be complemented to the FAQ segment we will have.”
In May, former Mexican President Andres Manuel Lopez Obrador discussed with Prime Minister John Briceño the possibility of increasing Mexico’s power supply to Belize by five megawatts. Although that discussion did not come to fruition, this week, PM Briceño held a similar meeting with the new Mexican President, Claudia Sheinbaum. Today, Minister of Energy Michel Chebat informed News Five that President Sheinbaum assured them that the existing arrangement would be honored and that they would explore ways to increase the power supply. The meeting also included Mexico’s new Minister of Energy, Luz Elena Gonzalez Escobar, and her team.
Michel Chebat, Minister of Energy
“Present at that meeting was also the head of the CFE from whom we actually purchase electricity. It was a very fruitful discussion. We discussed several issues, including the agreement for Belize to purchase energy from Mexico, we spoke about Belize’s energy security, which is very important for us. We also spoke about Belize’s energy security, which is very important for us. We also spoke about the basic needs of energy of southern Mexico and Belize and discussed a little bit about how we could go about addressing the issues on both sides of the border. I think our meeting was the first meeting she ever had since taking over this position, but she did assure us that all the agreements we had in place with the former government will be respected and will be honored. And we looked also – and obviously we discussed the possibilities of increasing that as we had done with the former president. And there is that commitment to look at that and to see how best we can get that done. I think one of the important things that did come out of this meeting is a commitment from the new administration to continue working with Belize to make sure that we have the energy supply that we need. And we also agreed that we’re going to have a joint working group that will of course consist of BEL and PUC who are going to be meeting regularly with our Mexican counterparts to see how best we can push forward these agreements.”
We also asked Minister Chebat to respond to allegation of voter fraud that his political rival in Cayo North, Dr Omar Figueroa had brought forth this week, he said that because the matter is now before the courts, he could not, but offered to give a comment after the court has dealt with the case
Every day, Belizeans come across stray animals wandering the streets, often hungry, injured, or pregnant, relying on human kindness for survival. Unfortunately, help is hard to come by for these creatures, who are frequently viewed as nuisances and public health risks. Humane societies across the country are striving to address the problem, but with limited resources, the situation is becoming increasingly dire. Here’s News Five’s Britney Gordon with more details.
Britney Gordon, Reporting
Belize faces a significant issue with stray animals. Across the country, thousands of pets are abandoned or left to fend for themselves on the streets. As these strays scavenge for food, they often scatter trash, and tragically, many fall victim to traffic accidents daily. The responsibility of managing this growing problem falls on the shoulders of dedicated volunteer teams. Liam Woods, a volunteer at Belize City Animal Aid, shares insights into the crucial work his group undertakes to address this pressing issue.
Liam Woods
Liam Woods, Volunteer, Belize City Animal Aid
“We do a whole bunch of work. Scattered, would not be the word, but something similar. cause we all have our jobs and responsibilities, school and so forth. So we tend to go every Saturday to our foster home. We take care of all the animals that we have up for adoption, cause we have to maintain them. Bathe them, take care of their ticks and fleas, monthly preventatives, and heartworms. Food is a big issue actually. On our last bag of dog food today. So we’re looking for donations or else we’ll pull from our fund, which the funds are low.”
Just this week, dozens of animals were rescued and are in desperate need of a forever home. When animals become strays, the likelihood of them getting pregnant or impregnating another animal increases; further exacerbating the issue.
Liam Woods
“I’d say, it’s really bad. Because, and it’s not even people’s fault. The thing is, spaying and neutering is an expensive procedure. And to do that you require responsibility and care for your animal. And that’s why one of our main objectives right now is to restart the program with the spay and neuter clinics for a heavily discounted price. That’s just a bit problematic right now because we have issues finding and sourcing doctors. But yes, I’d say it’s quite bad, the abandoning and neglect.”
To prevent this, the BCAA requires that those looking to adopt animals from them to have a fenced yard.
Liam Woods
“We are really against tying animals because that’s a whole different issue in itself. Thank you. But just keep them enclosed, because once a dog goes and hits a female, they say that males can smell it from miles away, and they will pack her, and then the pregnancy will just continue and continue.”
Woods pointed out that the window between rescuing an animal and finding a foster home is shrinking, as funds and space become increasingly scarce. Presently, the Belize City Council does not directly handle the rescue of stray animals. However, in the unfortunate event that an animal is run over or dies by other means, the sanitation department steps in to ensure proper disposal of the body. Sanitation Manager, Simeon Alvarez, elaborates on this process.
Simeon Alvarez
Simeon Alvarez, Sanitation Manager, Belize City Council
“Our sanitation department’s role is just to ensure that we remove the carcass whenever we get a call or a request. That means we only remove the animals in they have died. In respect to the amount of stray dogs, it’s directly the responsibility from the Public Health Department and the Ministry of Health. They normally collaborate with the council and do dog eradications I think quarterly.”
Previously, animals were rounded up and euthanized by the council, but the program was put on hold after backlash from various humane societies.
Simeon Alvarez
“However the Humane Society, I think, had an issue with it. I believe they wrote the council one time and they wanted to see how we can improve and enhance the eradication of dogs. I think they prefer we rehabilitate the dogs them and try to find Owners or some persons who will want to adopt the stray animals rather than eradicate them the way we do.”
To some, euthanasia might appear to be the easiest solution, especially for those who feel threatened by stray animals or find them a nuisance on their property. However, since this issue largely stems from human actions, humane societies argue that these animals shouldn’t be punished for circumstances beyond their control. Despite their best efforts, the noble aim of saving every animal is a challenging goal for these groups to maintain.
Liam Woods
“That is very extremely difficult for all of our volunteers collectively to do. Because as you mentioned, we all have our own jobs, our responsibilities at school, issues at home, everything we have to take care of. And we’re living in a society where you have to work you need to do that out of your free time, and free time is very limited, an issue that we’d really like to resolve throughout these coming years is to gather more volunteers, people interested, outreach, as I said, to help us with this issue.”
As the problem persists, the teams dedicating their time, energy, and resources to save and dispose of these animals, hope that more people can come together to find a solution fair to both the animals and the people living in their shared habitats.
Simeon Alvarez
“Stray dogs compound the waste management stream in respect to that, even the mental patients, the people that dig up the garbage like I said, stray dogs. The increase of that definitely affected our city tremendously. And I believe we need to find a solution for it sooner or later with the human society.”
The Belize Defence Force is currently probing alarming reports of their soldiers being encircled by potentially hostile, armed Guatemalans at the Machakilha Conservation Post. This tense standoff occurred on September seventh, following the detention of several Guatemalan men by a B.D.F. patrol for illegal logging in the Columbia River Forest Reserve. In a bid to avoid bloodshed, the patrol commander made the contentious decision to release the men along with their chainsaw. This incident has brought to light serious allegations that Guatemalans have been bribing soldiers for years to overlook these illicit activities. Hipolito Novelo has been delving into these claims for the past three weeks. Here is his detailed report.
Hipolito Novelo, Reporting
On September seventh, a group of Belize Defence Force soldiers was surrounded by over ten possibly armed and hostile Guatemalans near the Machakilha Conservation Post. The last order the patrol received from Fairweather Camp before losing communication was to, “man your ground”. Soldiers report hearing two shots. They were outnumbered and outmanned. On September 28, we asked Minister of National Defence & Border Security Florencio Marin Jr. about it.
Florencio Marin Jr.
Florencio Marin Jr., Minister of National Defence & Border Security
“I don’t have the specifics. I do know that there was some aggression that we were able to work with the Guatemalan side to be able to bring that to a resolution. So I know sometimes when the, when the first news come out, they come out, you know, I mean, a little bit shady and all, uncertain, but I do know that we have managed to resolve that.”
But was the situation truly resolved? The reason these potentially armed and hostile Guatemalans encircled the soldiers was due to the detention of a group of Guatemalan men caught red-handed, illegally logging in the Columbia River Forest Reserve. The soldiers, dispatched to dismantle two wooden bridges constructed by the same Guatemalans, were alerted by the sound of chainsaws in action. Major Roberta Usher, the B.D.F.’s Chief of Staff, confirmed to News 5 that the bridges were indeed located within Belizean territory.
Roberta Usher
Major Roberta Usher, Chief of Staff, B.D.F.
“We can confirm that the legal infrastructure, including the bridges, were identified within the lease, and in response, the proper protocols aligned with the confidence building measures to ensure appropriate actions were taken. So, yes, we conducted operations and our teams encountered individuals and equipment at said locations. Whether or not they were surrounded is still under investigation.”
The soldiers arrested fifty-six-year-old Santiago Gomez and his seventeen-year-old son, both caught with timber six hundred meters inside Belize. A Guatemalan family, suspected of smuggling logs, was also intercepted nearby in a retrofitted pickup truck. The family was part of a larger illegal operation involving other detained chainsaw operators. Juan Jose Garcia, believed to be the on-the-ground boss, was arrested, but the mastermind, “Salvador,” remained in Guatemala. After the search, Lydia Ramirez and the minors were released and escorted to the border.
The other five men and their chainsaws were taken to the conservation posts. On their way, Garcia started a conversation with the patrol commander. During that conversation, Garcia tells the patrol commander, “Échame La Mano” which means “help me out.” News Five obtained an audio recording of a portion of the conversation.
Via Phone: Juan Jose Garcia
Voice of: Juan Jose Garcia, Guatemalan
“Look boss, but help me out. You know, as I tell you, we are all human beings. What can I tell you? You suddenly appear here…at least I can do and visit you and we can talk and see if I can work or can’t work. We can talk and you can tell me if it is possible for me to work here. I am not going to work if it is not possible. But, we can talk and if you say I can work then I will work but if you tell me I cannot work and I won’t. Help me out.”
According to documents reviewed by News 5, Garcia allegedly tried to bribe a soldier multiple times, but the soldier refused. The shocking part? Garcia admitted to bribing commanders at the CP to continue his illegal activities, even describing who he has bribed. He claims he has been doing so for the past five years. Minister Marin says it’s the first time he has heard the allegations.
Florencio Marin Jr.,
“I mean, this is the first time because I know that every time we know of these bridges, except if for certain things that the OAS have to inspect, we immediately advise the general to be able to remove these illegal fortifications that are possibly, possibly put on the ground.”
Major Usher would not confirm or deny the allegations, saying that an investigation has been launched. The patrol commander who decided to release the 5 Guatemalans and 2 of the 4 chainsaws is facing disciplinary charges. He is being accused of failing to destroy the illegal bridges and, unofficially, of accepting a bribe. A search of the commander and his team revealed no money or illegal items. The extended version of this story can be found on Channel 5’s website. Reporting for News Five, I am Hipolito Novelo.
Sugar is one of Belize’s most prized commodities, yet recently, consumers have faced challenges in buying it from local supermarkets. Many customers have been turned away at the cash register, only to be told they can purchase just one or two pounds of sugar at a time. Despite assurances from Belize Sugar Industries last month that there was no shortage, the scarcity persists. Today, News Five’s Britney Gordon took a closer look at the sugar stock situation in Belize. Here’s her in-depth report.
Britney Gordon, Reporting
The sugar crop may have ended, but the dedicated team at Belize Sugar Industries Limited is still tirelessly packaging and distributing sugar. As one of the region’s leading sugar producers, Belize should have no trouble ensuring sugar is readily available for the domestic market. Yet, some retailers have imposed limits on how much sugar each household can buy at a time. This raises the pressing question: is there a sugar shortage? To address the speculation, the sugar suppliers provided us with an exclusive tour of their warehouse. Here’s what we discovered.
Shawn Chavarria
Shawn Chavarria, Director of Finance, ASR/BSI
“At the beginning of this week, we had approximately seven point five million pounds of plantation white sugar, and we had two point two million pounds of brown sugar. The monthly consumption of white sugar is approximately two point two million pounds. So what that means is that we have enough sugar for the next three point and a half months, and the monthly consumption for brown is around eight hundred thousand pounds. So similarly, We have enough supply to take a shoot at the end of December.”
Director of Finance, Shawn Chavarria, explains that the reports of a sugar shortage confounded the company until they realized that there was a larger issue at hand.
Shawn Chavarria
“We have heard reports that customers are complaining that they can’t find sugar in the shelves in the supermarkets. And so that is something that continues to worry us because as we’ve demonstrated here. There is enough sugar in our facilities. We are making it available. But somewhere along the supply chain line, the sugar is not always making it to the intended customer. And so that is something that continues to worry us.”
All signs point to sugar smuggling as the culprit behind Belize’s apparent shortage. One major incentive for smugglers is the price, which remains below the global market rate. Chavarria highlighted that the price of brown sugar has remained unchanged for over two decades, making it an attractive target for illicit trade.
Shawn Chavarria
“What we propose the government is that one way to help combat that is to package the sugar in retail packaging. Because that product will be much moredifficult for anybody to try to smuggle.”
BSI has been exporting sugar under the Domino brand into CARICOM for about a year. Supply Chain Manager, Eldy Smith tells us that there is currently about one million pounds of this product in stock.
Eldy Smith
Eldy Smith, Supply Chain Manager, ASR/BSI
“I think that, they are very happy with this type of presentation in the car recall market. And I think that, we’ve got very good news from them, right? Especially since they’re saying that it’s, directly from a container, they can put it Onto the shelf.”
Implementing this proposed packaging would require adjustments to the current price control structure. BSI has suggested that the government deregulate retail packaged sugar while maintaining regulations on industrial sugar.
Shawn Chavarria
“The customer will have a benefit of getting a higher premium product because the sugar will be packaged. We have all the control from a quality and safety standpoint to do it here. So the consumer is assured that we are getting a product that is a high standard. We don’t have to worry how it was handled. They’re also going to get the exact weight because our scales are calibrated by the Bureau of Standards.”
BSI has proposed that the government introduce a margin for distributors and supermarkets. Under this plan, brown sugar would be priced at approximately one dollar per pound, while white sugar would be around one dollar and ten cents per pound on the shelves.
Shawn Chavarria
“So we would obviously have to sell lower than that to provide sufficient marginfor distribution because that’s been another complaint distributors are saying that we don’t make enough to pick up the sugar here and distribute to a consumer then similarly retailers now they don’t have to worry about packaging it themselves hiring people to do that Is that already doing. So there markup is straight on the retail and we think that’s a price that consumers would be willing to pay because again, it’s a premium product. We would still have available industrial sugar, which would be for manufacturers, bakeries, people who make wine. So you essentially have two prices, one for retail, one for industrial.”
In previous efforts, BSI has struggled to adjust the sugar price index successfully. However, they are optimistic that the introduction of this new product will persuade the government to reconsider the benefits of modifying the current standard. If approved, BSI expects the product to hit the shelves by the end of the 2024/2025 crop season. Britney Gordon for News Five.
On Monday, the ASR Group and Belize Sugar Industries Limited made a groundbreaking announcement, revealing a record-breaking estimated price for sugar cane. As of September thirtieth, the average cane price for the 2024 crop is projected to be an unprecedented eighty-seven dollars and ninety-nine cents per ton, the highest in the industry’s history. This remarkable price surge comes on the heels of a challenging crop season, with B.S.I. facing significant labor shortages. In response, the company has been advancing towards automating parts of its assembly line. We reached out to B.S.I. for more insights into this development.
Shawn Chavarria
Shawn Chavarria, Director of Finance, ASR/BSI
“The cane price estimate we issued at the end of September was close to eighty-eight, eighty-seven point nine. That’s a new record price we’ve never had a price that high. A final price will be issued at the end of October, which will be for the final payment, which is due the first Monday of November. We know that farmers are very pleased with this price. We think it’s a demonstration of the investments that we’ve made in terms of expanding value added sugar, the port investments to lower shipping costs, and also the war market prices that have been increasing. So we’ve been hearing positive feedback on that and we’re. We’re hoping to see perhaps even as maybe smaller adjustment when the final price comes in at the end of October.”
Eldy Smith
Eldy Smith, Supply Chain Manager, ASR/BSI
“This crop, we did have severe labor shortages with our operations in these warehouses and boat warehouses. It is an intensive labor process that we do, right? So what we did is we strategized to be able to mitigate the labor shortages. And what we did is we were able to palletize this product. So our customers in the CARICOM are also dealing with this issue. And they are asking, they have already asked us to move into palletize slowly. I think the world will be moving into more optimized, automated processes. Because I think there are competitive markets out there. I think in Belize we have very competitive markets now, especially with the call centers, and so we need to ensure that we are prepared. And also because we’re as a company, we have a customer approach.”
On Wednesday, we reported on a rapidly spreading fungal infection affecting sugar cane in Northern Belize. This infection causes the cane to yellow and wilt. While some cane varieties show resistance, over sixty percent of Belize’s sugar cane varieties are vulnerable and likely to perish upon exposure. It’s estimated that the infection has ravaged about three-fourths of the Corozal District in the past month. With the record-breaking sugar price announced on Monday, we spoke with Shawn Chavarria, Director of Finance at Belize Sugar Industries, to understand the potential impact on next year’s crop. Here’s more on that.
Shawn Chavarria
Shawn Chavarria, Director of Finance, ASR/BSI
“That’s something that we’re still working with stakeholders. A task force has been created. With all the different stakeholders, including BAHA, CARDI everyone’s giving it its full support, given the sense of urgency behind this. We’re trying to assist in bringing experts who experts are in soil nutrition and also disease. So we’re trying to help with that. The key is to try to find out the strain, or the genus of this disease, and once we know that, then we are able to make recommendations to farmers on what is the control measures that need to be put in place, what biological control or formulas they need to do. And so that is the step that we’re currently doing. We’re gathering the samples to send them abroad to do that analysis so that we can then make technical recommendations to farmers to implement these measures. Because this is something that is really concerning at this point. The initial feedback is that this is being seen across the border as well. So it’s not something that’s just affecting our industry, but we need to ensure that we, as much as possible, try to minimize its spread. I think they still need to go and do that validation of how much fields are actually affected. And so I know right now SIRDI on feel officers from all the different stakeholders are trying to do that going assessment. But at this point, we still don’t have all the information. We do know that it does impact the growth, the quality reduces. And so what you will see is lower yields. Some fields could be lost, but until that validation is completed, we really don’t know exactly what is going to be the impact next.”
Transport remains a critical hurdle for CARICOM in its quest to establish a single market. The movement of cargo by sea hinges on production volume, while air transport presents its own set of challenges. However, according to the Director of the CARICOM Single Market at the CARICOM Secretariat, various discussions are underway to tackle these specific transport issues. Here’s what he shared with us during our conversation on Wednesday at an event in Belize City.
Leo Preville
Leo Preville, Director, CARICOM Single Market
“There are different discussions taking place right now. For instance, as a community there has been a study that has been commissioned through the Caribbean Development Bank, a whole regional transportation study, taking a look at areas we can commence with work immediately to solve the transportation problem. When you have discussions in the region, you have two discussions taking place. You have a discussion which says, you do not have sufficient transportation to move goods around. And then, the transport suppliers will say to you, no we have sufficient containers to move. We have it all there. It is available to you. However, they are talking about container loads as opposed to less than container loads and how do you accumulate goods in one country from different suppliers to form a container load. So we have a difficulty under production side within the region. There is an industrial policy being developed to address that. In the specific case of Belize, from yesterday’s discussion with the agriculture ministry, the issue was not with transportation of poultry products. The issue went beyond that and that is where at the political level there needs to be that sort of engagement. In terms of people movement, as we speak we have a multilateral air services agreement which if used as intended can help to provide solutions to our air transport movement in the region.”
In August, the Ministry of Sustainable Management revealed that an investigation was in progress regarding the disappearance of funds at the Belize Solid Waste Management Authority. The ministry’s press release indicated that the Belize Police Department would eventually be involved in the probe. Initially, the missing amount was reported to be around a million dollars, though various figures have since been mentioned. A source within the BSWAMA suggested that the funds were redirected to other projects within the office due to resource shortages. Today, Minister of Sustainable Development Orlando Habet informed reporters that he could not provide further details as the investigation is ongoing.
Orlando Habet, Minister of Sustainable Development
“The person was I think put on three months leave. We can’t comment much on it because it’s still under investigation and it’s something that the commission will be dealing with. So we can’t interfere. We don’t want to bias any result from the investigation being done or the decision from the Public Service Commission.”
The Belize National Teachers Union has raised a red flag, revealing that over one hundred and thirty teachers have not received their salaries. Alarmingly, some have been without pay for as long as five months. What’s causing this dire situation? Union President Nadia Caliz admits that her team is still seeking answers. Today, she held a press conference, accompanied by several affected teachers, to shed light on their plight and demand urgent action.
Nadia Caliz, National President, BNTU
“This is the agreement that we had with the Ministry of Education that any teacher that needed to be removed off the system, the managing authority had to write the chief, Chief Gongora, and then she would address that up to the last time we checked, and this was like a week before payday, nobody got any notification that they will be removed or anything like that. And so when we learned on Thursday that a number of our teachers were not paid, we were like taken aback. But why is this so? Did the management submit what they needed to on all of that? But you see, as a responsible organization, we needed to do our own research, and that’s very important. Our investigation up to this point has revealed that our one hundred and thirty plus, because the numbers are still growing, you can’t find them any at all in the system. So, in order for those teachers to come off the system, somebody had to manually go in and remove them. So, who gave the other? That is our question. When we had an agreement, who disobeyed the agreement that we made with Minister Fonseca because he was in the meeting with us. Who disagreed? Who did that? Now, when you look at teachers suffering today, let me tell you what happened. And when you all started calling, I said, maybe this is God’s way for us to go. You know, begin to share with the Belizean public what educators are actually going through. A teacher this morning received a notification that her utilities will be disconnected and that spiraled from there. She had a breakdown.”
