About 1,100 traders displaced by the fire at GOICO Plaza have found new places to operate, while only 17 of the more than 2,000 traders who lost goods had insurance, Northern Province Governor Mugabowagahunde Maurice said.
The insured traders are expected to receive compensation this week, the governor said during a tax advisory council meeting attended by Rwanda Revenue Authority (RRA) Commissioner General Ronald Niwenshuti.
Niwenshuti expressed sympathy to those affected and praised them for their resilience. He said RRA would continue supporting the traders and working to resolve concerns raised by businesses.
He also commended Northern Province for increasing collections from national taxes and revenues assigned to local authorities.
The fire broke out at the five-storey commercial complex on October 10. GOICO Plaza was used by about 2,000 traders and received an estimated 25,000 visitors a day before the blaze.
The governor has put preliminary losses of goods at more than Rwf30 billion, while the building was valued at Rwf17 billion.
Authorities had earlier identified 635 alternative trading spaces in Musanze.
The latest figure of 1,100 traders who have found places to work marks a significant step in efforts to restore business activity, although traders have also raised concerns about the cost of rent, lost working capital, outstanding loans and possible tax relief.
The small number of insured traders highlights a wider challenge for Rwanda’s businesses as penetration remains around 2 per cent of GDP.
The National Insurance Strategy aims to raise penetration to at least 5 per cent by 2035.
Northern Province Governor Mugabowagahunde thanked RRA for supporting the affected businesses and urged private-sector operators to pay taxes voluntarily, use electronic billing machines properly and insure their goods.
Traders’ representatives thanked RRA and the Government of Rwanda for their support, particularly for those whose property was destroyed in the fire.
