August 17, 2022

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The Leading Newspaper for Co-operative Movement in Kenya

Mafanikio Sacco to open Ukunda branch


By Collins Akong’o
Mafanikio Sacco is set to
open a new branch at Ukunda
on 18th February, 2017
in its bid to net more members and
deliver services closer to its customers
and clients.
Mrs Eunice Kaboi, Mafanikio
Sacco CEO said the new branch
will bring services to the door steps
of members, freeing the Mombasa
Headquarter offices.
After more than 40 years of existence,
Mafanikio Sacco has built
up its financial muscle, conducted
capacity building workshops for its
members and recruited highly qualified
members of staff and has consistently
meet all requirements set
out by the Sacco Societies Regulatory
Authority (SASRA).
“We have put in place measures
that will ensure we recruit more members
so as to strengthen the Sacco’s
capital base,” said Jonathan Mutuku,
Mafanikio Sacco Board of Directors
Chairman. He applauds the management
team led by Mrs Kaboi for its
sound management practices, transparency
and honesty in all their dealings.
Mafanikio Sacco offers credit to individual
members and entities that meet
its conditions and requirements. The
Sacco is employing more innovative
service delivery channels to cope with
the ever changing financial landscape
and consumer preferences including offering
ATM services.
Formerly known as Mombasa
Teachers Sacco Limited and registered
on May 11th, 1976, Mafanikio Sacco
had an initial membership of 500 drawn
from the teaching profession, and staff
of the Office of the President, Ministry
Education and the Sacco.
It operated from rental premises
until the end November 2006 when
the Sacco moved to its own offices
at Khoja flats, situated along Jomo
Kenyatta Avenue behind KCB Mvita
The Sacco has opened the common
bond and is now attracting members
from the informal sector as well as the
business community. Its membership
has grown to more than 3,063.
“It has taken us alot of effort and
hard work to get to where we are today,”
said Mr Mutuku, who is determined
to ensure members turn their
dreams into reality.
Mr Evans Mwachia, Mafanikio
Sacco Secretary said that the society
which is IT compliant prides itself
for offering a mobile banking platform
that enables members do cash
deposits and withdraws, make inquiries
on their accounts, buy air airtime, make
share deposits and do loan repayments
from the comfort of their homes or offices,
without having to visit the banking