Gikomba fire victims receive Sh90 million compensation from insurer
Josephat Muthama (centre) receives a Sh90 million compensation check on behalf of the Gikomba fire victims from the managing director of Kenya Orient Insurance Muema Muindi (right) on September 8, 2015. On the left is Technical Manager of Insurance Regulatory Authority Agnes Ndirangu. PHOTO | NJUGI NGUGI | NATION MEDIA GROUP
What you need to know:
- The market in downtown Nairobi mostly hosts second-hand clothes dealers among other businesses.
- Among the affected businesses was the premises hosting a Family Bank branch which was extensively damaged.
- The fire reportedly started in area 42 before it spread to Gorofani in Gikomba.
- Josphat Muthama, said he lost goods worth Sh5 million during the blaze but was happy that insurer had compensated him.
A number of traders who lost goods worth millions in a fire tragedy at Nairobi’s Gikomba Market have received compensation from a local insurance firm.
The 75 traders received a total of Sh90 million from Kenya Orient Insurance Limited, the biggest insurance settlement for the business community at Gikomba Market by any insurer.
The market in downtown Nairobi mostly hosts second-hand clothes dealers among other businesses.
According to the insurance company’s general manager Mr Muema Mundi, the business people received cheques of between Sh750,000 and Sh4.2 million each to start business afresh following the inferno.
“Most of the goods belonging to the traders were burnt to ashes. We have worked hard to ensure that the claims were processed fast and paid,” he said.
He was speaking Tuesday during the presentation of a cheque to the traders held at the insurer’s offices at Capitol Hill Towers in Nairobi.
SAFETY NET FOR TRADERS
He said the payment would provide a safety net to the small and medium traders and enable them be back on their feet again.
The fire, which started on the morning on June 23, 2015, rendered many stall owners jobless as very little was salvaged.
Among the affected businesses was the premises hosting a Family Bank branch which was extensively damaged.
The claim for Family Bank was worth Sh27 million.
The fire reportedly started in area 42 before it spread to Gorofani in Gikomba.
There have been repeated fire incidents at the market but investigations have been unable to establish the cause so that a lasting solution could be found.
The insurer said the cause of the fire was yet to be established adding only those who had insured their businesses with the company were compensated.
One of the traders, Mr Josphat Muthama, said he lost goods worth Sh5 million during the blaze but was happy that insurer had compensated him.
“I want to urge my fellow traders to insure their businesses and also trust insurance companies to pay them after a tragedy,” he added.
