3 weeks ago
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The Social Security Board (SSB) shedded more light on its role in the Government’s acquisition of Hydro Belize, highlighting the investment as a strategic move aimed at generating long-term returns while supporting national development. During today’s Media Mixer in Belmopan, General Manager for Finance, Leo Vasquez, explained that the SSB has taken a dual position in the hydro investment, through both equity and bonds, as part of a broader strategy to diversify its portfolio and strengthen income streams. According to Vasquez, the SSB has invested approximately one point four million dollars in shares tied to the Hydro Belize acquisition, along with a significantly larger investment of forty-two point five million dollars in Hydro Belize bonds. Beyond Hydro Belize, the Finance Manager pointed to a range of additional investments being made by the SSB across the financial sector, utilities, and government securities. These include term deposits and holdings in local financial institutions, all structured to deliver a mix of fixed income and growth-based returns.
Leo Vasquez, General Manager (Finance): “Investments aligned with national development speaks more to investments in BEL, BWS, BTL and of course now I will talk on the hydro as we go on in this. So just as a quick snapshot, at the end of 2025 you will see when we present our financial statements our gross investment portfolio is about 525. So come from January 1 to April 30 we have now invested an additional $130 million for 2026 alone. We have never done that number in any year. Two big drivers. The Hydro Belize equity is really our shares investment. We have invested $1.4 million in Hydro Belize shares and we have invested $42.5 million at 6% in Hydro Belize bonds. Term investments are really from three fronts. 10 million in Atlantic, 10 million in Heritage and National Bank we just put $15 million at 4%. At BEL debentures are 7.1, I think that’s a 6% and DFC well that’s an approved loan but the disbursement happened recently. So 130 million on top of the 525. Okay, well let’s speak to this is a strategic one. This is the national energy sector which is new for us but presented an opportunity. You remember Hydro Belize was at Fortis, they came out to the market, it presented an opportunity for us where the power, where energy is the source. Not the distributor because we’re in BEL but this is when Hydro Belize funds supplies 100% of its energy to BEL. So that $40 million, the $1.4 million shares investment will give us 30% or two seats on the board. And of course then the 42.5 is a 6% year on year return and then we get the 42.5 million back at the end of the 20 years, unlike the shares investment, well we expect that because we expect that to earn about $4 million per year in terms of dividends and we plan to keep that for a lot longer than 20 years.”
Vasquez noted that the bond investment provides fixed, stable returns, while the equity component offers the potential for dividend income and long-term value appreciation as the company grows. Later in this newscast, we’ll bring you additional information from this morning’s media mixer, including the modernization of the social security scheme.
English (US) ·