Mafanikio SACCO formerly Mombasa Teachers SACCO LTD was registered on 11th May 1976 with a membership of 500, drawn from the teaching fraternity that is Primary schools’ teachers, Secondary school teachers, Knut employees, Office of the President, Ministry of Education, employees of the SACCO and other teachers’ institutions like KNUT and BF and retired teachers. Registration as per Co-operatives Act vide Cert. No.2484.The society has now opened up membership to include other business people in the Jua Kali industry who have opened accounts in Front Office Services Activities (FOSA) and get loans after saving for a minimum period of six months.
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