WEDAC, as a company limited by guarantee was registered on 26th June 2000 under the Companies Ordinance (Cap. 212). WEDAC was incorporated to take over the operations carried out by Monduli Rural Credit Scheme for Women (MRCSW). This institution started by Monduli District Council in 1993 with the objective to meet the credit needs of rural women in Monduli District. In June 1995, it was transferred to a community based Non-Governmental Organization (NGO) called Komolonik Integrated Development Organization (KIDO). Following the recommendations of a Danida-funded consultancy, the rural credit scheme was incorporated as WEDAC in June 2000. Currently, due to policy change and an introduction of a Microfinance Act 2018, WEDAC Company Limited was renamed to WEDAC Microfinance Institution Limited on 12/3/2021 as a requirement to obtain an operational license from BOT. The institution is currently updating different manuals as per BOT requirement in order to comply and hence avoid penalties. WEDAC is a microfinance institution focuses on provision of financial services to rural households mainly women. The institution’s head office is located in Monduli district and currently operates using village centers to reach rural clients. The institution operates in two regions namely Arusha and Manyara. In Arusha it covers Monduli district while in Manyara it operates in Hanang, Babati, and Mbulu districts. Future plan is to cover all the districts in Arusha and Manyara before going to other regions.
Martha Jachi Umbulla, (the late) who was then the project coordinator for Monduli Rural Credit Scheme for Women (MRCSW) was part of the decision-making and inception team for WEDAC. After its incorporation Martha served as the General Manager for WEDAC Company Ltd from 2000 – 2004. Martha’s heart for women and her passion to support rural women whom she viewed as key players in the development of rural families, and in turn the nation, led to her appointment and service in various government positions including a District Commissioner – Kiteto District, District Commissioner – Kongwa District, and a Member of Parliament - Women Special seats for Manyara, a position she served for over 15 years. Despite her many responsibilities, Martha remained a key advisor and a member of the Board of Directors for WEDAC until her passing. Martha’s belief that ‘empowering a woman, empowers the family unit and in turn a society and nation at large is evident in the success stories of the women that have obtained their credit facilities with WEDAC for over 20years of WEDAC’s operation.