SanlamAllianz, a provider of insurance and financial advisory services, has paid more than Rwf120 million in compensation to eight business owners whose businesses were affected by a fire at the GOICO building in Musanze District.
The activity took place in Musanze on Wednesday, November 4, 2026, as the company supported its insured clients in recovering from losses caused by the fire. The compensation amounts ranged from Rwf500,000 to Rwf30 million, depending on the value of the insured property.
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Business Owners Welcome Insurance Compensation
Alex Ntivuguruzwa, a trader who sold men’s clothing and footwear, said he had insured his stock because he understood the risk of fire and wanted to protect his business.
He said: “I always feared the risk of fire, so I decided to insure my stock for peace of mind. I am grateful to our partner, SanlamAllianz, for coming to our aid during such a difficult time; I am very satisfied with the insurance settlement I received,”.
He encouraged other business owners to insure their businesses so they can receive support when unexpected incidents occur. Another beneficiary said receiving compensation had confirmed the importance of protecting business assets through insurance.
The beneficiary said: “We are very pleased, as they have proven to be people of their word, they deliver on what they promise. I always assessed the value of my inventory and realized that insurance was essential, ensuring that if disaster struck, I wouldn’t be left with nothing and forced to start from scratch,”
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PSF Urges Businesses to Insure Their Property
Emmanuel Shirubwiko, the head of the Private Sector Federation (PSF) in Muhoza Sector, said the compensation provided to the eight business owners should encourage other traders to insure their property. He described SanlamAllianz as the first insurance company to compensate its clients affected by the fire and called on the private sector to make insurance a priority.
He said: “Sanlam Allianz is the first to pay out claims to those who insured their assets. This presents a challenge for us at the PSF: to encourage our fellow business owners to insure their properties. It is a significant task we have set for ourselves, and we are confident we will succeed,” He also expressed sympathy for traders who lost their property but had no insurance to help them recover.
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SanlamAllianz Explains Compensation Process
Alain Ngoga, Commercial Director at SanlamAllianz, said the company prioritised settling claims to support clients during a difficult period and help them restart their businesses. He said the company immediately contacted clients operating in the GOICO building after the fire to begin processing their claims.
Ngoga said: “It is our responsibility to be at the forefront to show our clients that we are here for them and to expedite their compensation. Furthermore, we hope this serves as an example to others, encouraging them to take out insurance and protect their assets so they can operate with peace of mind. Eight of our clients at the GOICO complex have received compensation totaling over 120 million Rwandan Francs to help them revive their businesses,”
He added that the company was saddened by the destruction of the GOICO building and wanted to ensure that affected clients received assistance as quickly as possible.
Musanze District Urges Traders to Embrace Insurance
The Acting Mayor of Musanze District, Munyaneza Jean Maurice, commended SanlamAllianz for compensating its clients and encouraged other business owners to insure their property. He said business owners who had insurance were in a better position to recover from the fire because they could rely on their insurance providers for compensation.
he said: “Many people were left wondering how they would recover their lost assets, whereas those who had insurance remained at ease, trusting in their insurer. You should now act as ambassadors to other business owners who lacking insurance, did not have the opportunity to be compensated. Encourage them to insure both their assets and their own lives,”
Governor Calls for Insurance Culture
The Governor of the Northern Province, Mugabowagahunde Maurice, said the fire at the GOICO building should serve as a lesson to the business community about the importance of protecting property against unexpected disasters. He noted that the eight business owners receiving compensation were in a better position to restart their activities than the more than 1,600 other traders who did not have insurance.
he said: “We must ensure that this misfortune does not pass without us learning from it. The eight individuals we see here today are in a different position than the more than 1,600 others who lacked insurance; they now have the means to restart their businesses. Make insurance a deeply ingrained culture, rather than viewing it merely as a legal requirement,”
The Governor also cautioned traders against undervaluing their property when purchasing insurance, explaining that compensation depends on the declared value of the insured assets. He commended SanlamAllianz for being among the first companies to compensate its affected clients, saying: “You have set an example for us, and we trust that others will follow suit.”
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Business Owners Urged to Improve Fire Safety
Mugabowagahunde also reminded business owners to equip their workplaces with basic fire-fighting equipment and learn how to respond to emergencies.
He encouraged traders to train one another in providing initial emergency assistance to reduce losses when fires and other incidents occur.
