Digi chairman says company remains strong despite acquisition setback

By Breaking Belize News Staff: Digi Belize Chairman Markhelm Lizarraga has told employees that the company is moving forward after Cabinet announced that it does not support Belize Telemedia Limited’s proposed acquisition of SMART/Speednet.

In an employee bulletin, Lizarraga said the company respects Cabinet’s decision and the process through which it was reached, while thanking employees who contributed to the evaluation of the proposed transaction.

Lizarraga acknowledged the significant work undertaken by Digi staff during the acquisition process, saying employees had continued to manage their daily responsibilities while contributing to the evaluation. “The process of how we could have expanded our business through an acquisition is now behind us,” he said, adding that the company must now focus on other avenues for growth in an increasingly competitive market.

The chairman also pointed to the Public Utilities Commission’s designation of BTL as a dominant provider, saying the determination has changed the regulatory environment in which Digi operates.

According to Lizarraga, the designation brings additional regulatory obligations, greater oversight and constraints, requiring the company to be more disciplined in how it operates, competes, invests and serves customers. “We should not underestimate the headwinds we face. But neither should we allow those headwinds to define what Digi/BTL can become,” he stated.

Lizarraga said Digi’s opportunities remain significant, highlighting its workforce, customer relationships, national infrastructure and technological capabilities. He said the company will continue its transformation from a traditional telecommunications provider into a broader technology company, pursuing opportunities in digital services, cloud, cybersecurity, managed services, enterprise solutions, data and emerging technologies.

Looking ahead, Lizarraga said success will depend on stronger execution, customer focus, efficient operations and teamwork. “Most importantly, it will require us to work as one team,” he said, while expressing confidence in the company’s future. “Our strategy remains clear: continuing adding value to our customers, investing in our people and the technologies that will define the future,” he added.

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