Less than 10 days after a massive fire ripped through Lilongwe’s Tsoka Market, Opportunity Bank Malawi (OBM) presented client vendors with about $10,300 to help them rebuild their businesses and lives.
While there were no reported injuries from the blaze, many of the stalls in the Tsoka Market and much of the merchandise were reduced to ashes. Each of the 160 affected OBM customers received a $63 deposit into their OBM accounts to help rebuild following the accident.
“We hope to mitigate the suffering and setbacks the fire has brought to the many lives of people who bank with us,” said OBM’s Chief Operating Officer Wilson Moleni.
The funds from the MicroEnsure Credit Health Insurance program were paid by OBM even before vendors had to file a claim. A representative of the affected vendors, Mwala Jawadu, thanked OMB for its quick response and noted that OBM was the first bank to respond and help following the disaster.