Traders at Nairobi's Gikomba market, who suffered losses following this year's June fire tragedy, are set to receive monetary compensation on Tuesday.
Kenya Orient Insurance Ltd will pay the affected traders a total of Sh90 Milion as compensation for the loss.
The Insurer confirmed to Kenyans.co.ke that they would fully compensate all the traders who had insured with them, depending on the premiums they had taken.
The payment ceremony will be held on Tuesday at the company offices at Capitol Hill Towers, Nairobi from 8am.
Gikomba which is the largest market in Kenya was on June 23 razed down in the worst fire ever witnessed since its inception. The inferno is also said to have affected over 70 per cent of the traders.
This fire outbreak was the fifth in a series of “minor” arson incidents linked to business rivalry among traders.
The compensation comes a few months after the Nairobi County Government offered to give the traders a Sh5 Million compensation which they turned down.
Traders rejected the offer, after suspecting that the government would displace them under the disguise of upgrading the Market.
According to the County Government, Gikomba Market had a daily turnover of Sh500 Million daily which translated to a Sh15 Billion monthly turnover.
