FECTAB Opposes Potential Sale of Stake Bank to Mediterranean Shipping Company
- Business, Companies & OrganizationsGovernment & Politics
- October 11, 2024
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The Federation of Cruise Tourism Associations of Belize (FECTAB) is speaking out against reports of Stake Bank Island possibly being sold to the Mediterranean Shipping Company’s cruise line. The federation says the move directly contradicts the government’s explanation for the compulsory acquisition of 23.4 acres of the island from the Feinstein Group. In August, the government announced that it would move to acquire the land for OPSA, a Honduran company, and explained that it was in the public’s best interest for the project to be finished. However, FECTAB argues that the recent news of MCS moving to purchase the island greatly undermines the rationale. They claim the restrictions that come with the ownership of large cruise lines will disenfranchise local tourism stakeholders in Belize City. The association’s president David Almendarez kicked things off and spoke on why they are against the proposed sale.

David Almendarez, President, FECTAB: “In all my time I see businesses that get reclaimed by the bank, where the bank normally will acquire your business you get a loan from this bank, they will acquire your business they will put it in a newspaper, they will publish it this particular acquisition fast tracked. Bang you come down, bang you close down, bang it’s gone just like that. One of the fastest receivership systems ever. Railroading, just railroad an idea, a dream Mr.Sanker that we had. We had a dream that they will build a port in font of Belize City it will have good owners that think about the country, think about us, try to make a little money, spread the wealth, make Belizean people get out of poverty. Make us be owners of something because anybody from San Pedro could tell you no Belizean owns anything there. Placencia worse. Anywhere it’s getting impossible. All of us have kids. All of us send our kids to university where do 80% of them end up ? The fortunate ones go abroad but the ones that stay here what kind of jobs do they get ? Call center. You know we have a government that is championing call centers when they will take away a port that is a money maker.”
Local artist, Alex Sanker also took part in FECTAB’s press conference this morning. According to him, Feinstein had offered him a shop on the island to open a gallery and help support another local artist. Sankey says the recent developments have now brought the plans to a screeching halt and called on the government to rethink its decision.

Alex Sanker, Artist: “The Feinstein family is a rich family. She came to me and gave me an opportunity that I thought I could retire on, that I would have brought in every single artists in this nation and tell them listen I have a big store here bring in your stuff I don’t want a dollar of your painting because I already made it but I made it because I’m a fighter. I made it because I’m humble. There is few artists who are willing to stand up because they worry about the dollar. And with them what they want to do with this island is privatize it that threw a wrench into my engine. I already said, I called Ms.Feinstein about a month ago and I said man you know it’s a harsh reality, is this ever gonna come true ? And I might seem like nobody to many Belizeans but truth matters and like he said at the end of the day if they privatize this they will wash their hands they already did what they had to do etc and who suffers ? I will survive I can tell you this, I will survive. My daughter will survive, my two kids abroad will survive because I am a fighter. What happens to the ones that don’t have this type of courage ? And we all see there is not….if you look at an artist that is fighting for something positive for this nation when you pass Albert Street there you realize that I have judges that buy paintings from me and say “Mr.Sanker it’s not my taste but keep up the good fight.” Because when I pass out here all I see is somebody who is fighting for something that he truly loves and believes in. So my whole thing is all I have to say to this nation is that if we don’t come together….”
Yhoni Rosado, a tourism businessman, spoke out on the cruise sector and has alluded to personal financial struggles saying that no one should be surprised if he robs a bank. According to Rosado, the government is messing up the cruise sector with the deals they are making.

Yoni Rosado, Tour Guide: “If they put this contract of MSC by record all the contract this corporation is asking for is for 25 years and so I am 51 I will not be living until after 25 to see the mainland port. Belize needs a mainland port, we cannot get it because the government plays games. Now instead of working with the Feinstein group to make it happen they’re destroying and making a mockery, a mess out of that system there. I am here as a regular citizen. I am no more powerful than you or no-one else. The government was elected to govern our country, to build roads, build ports, create jobs, I’m not asking for something that is not there for us. They are there to build ports so that people can get off the ship and spend money.”
The 2-hour press conference concluded at around midday.