Insurance Assessment Confirming Claims of Sh1.072 Billion for Affected Traders
Latest Tanzania business news · Insurance Assessment Confirming Claims of Sh1.072 Billi… explained · updated Aug 21, 2026 · business news · companies · investment
TLDR
- Nine traders from Lumumba Street in Mwanza have received compensation of Sh1.072 billion from NMB Bank and Reliance Insurance after a fire destroyed their shops and properties on July 3, 2026.
- NMB Bank's Claims Manager, Madoro Max, stated that experts were sent to assess the damage following the fire report.
- The assessment confirmed claims totaling Sh1,072,554,090 for the nine insured traders.
- Mwanza Regional Commissioner, Said Mtanda, urged traders to protect their businesses and properties with insurance.
- NMB Lake Zone Manager, Faraja Ng’ingo, mentioned that the payments will help the victims restore their businesses and sources of income.