A devastating fire at GOICO Plaza, one of Musanze’s major commercial centres, has destroyed goods estimated to be worth Rwf30 billion, raising urgent concerns about the livelihoods of thousands of traders in Rwanda’s Northern Province.

The preliminary estimate was reported by local media on October 12, following the blaze that struck the five-storey market building on Saturday, October 10. The final value of the losses remains subject to assessment.

The fire destroyed large quantities of merchandise and severely disrupted business activity at the complex, where approximately 2,000 traders operated. The incident has left many businesses facing uncertainty over how quickly they can replace their stock and resume selling.

Rwanda’s Ministry of Local Government said no fatalities were reported. Two people sustained minor injuries, while 15 others sought medical attention for psychological shock. Authorities credited firefighters, local officials and residents with helping prevent the flames from spreading to neighbouring buildings.

The government has pledged to support the market’s rehabilitation and help affected businesses resume operations. Officials are also working on temporary trading arrangements for displaced traders.

The cause of the fire has not yet been officially established, and investigations are continuing. Authorities have not completed the full assessment of the damage.

The disaster highlights the economic risks facing traders when a major marketplace is disrupted. For affected businesses, the immediate priorities include finding temporary selling locations, replacing destroyed merchandise and restoring access to customers.

Further updates are expected as investigators determine the cause of the blaze and authorities clarify the recovery measures available to traders.