Don’t borrow to take girlfriends abroad, MPs warned
Former government chief whip Ruth Nankabirwa, speaking on July 4, 2025, the final day of the induction seminar for the 12th Parliament at Speke Resort Munyonyo, said Parliament offers several financial opportunities, but warned that borrowing without a clear investment plan could trap MPs in debt throughout their five-year term.
Former government chief whip Ruth Nankabirwa said Parliament offers several financial opportunities, but warned that borrowing without a clear investment plan could trap MPs in debt throughout their five-year term. (File photo)
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Newly elected Members of Parliament have been cautioned against taking unnecessary loans and indulging in lavish lifestyles, with senior legislators warning that poor financial decisions have left many former MPs struggling long before the end of their terms.
Former government chief whip Ruth Nankabirwa, speaking on July 4, 2025, the final day of the induction seminar for the 12th Parliament at Speke Resort Munyonyo, said Parliament offers several financial opportunities, but warned that borrowing without a clear investment plan could trap MPs in debt throughout their five-year term.
She noted that legislators face constant financial demands from constituents and should therefore avoid loans that do not generate income.
“If you get a loan which is not going to bring in more money, which is not profitable, then your performance as a Member of Parliament is affected. Banks will be looking for you, moneylenders will be looking for you, and the constituency will be looking for you,” Nankabirwa said.
She particularly warned against rushing into loans to settle campaign debts or purchase expensive homes in Kampala, urging MPs to fully understand loan agreements before signing.
Instead, she advised legislators to start with modest accommodation and invest their earnings in businesses, government bonds and other long-term income-generating ventures.
Nankabirwa also encouraged MPs to consistently contribute to Parliament’s pension scheme, describing it as a financial cushion after leaving elective office.
“Don't be tempted to eat this seed, this money which is supposed to help you when you retire. We don't want to see you stranded after serving as an Honourable Member of Parliament,” she said.
She further urged legislators to uphold integrity in both their public and private lives, stressing that leadership comes with greater responsibility.
State Minister for Lands, Housing and Urban Development (Housing), Persis Namuganza, echoed the call for financial discipline, urging MPs to invest in real estate instead of spending money on short-term pleasures.
She said some legislators waste earnings on entertaining younger women and travelling with them abroad instead of building assets that can sustain them after politics.
She urged legislators to prioritise investments that appreciate over time.
“Invest in property. Property is real capital. Buy houses, build rentals. Even when you are no longer a Member of Parliament, that property will continue bringing you income,” she said.
Namuganza also cautioned female MPs against entrusting their money to men who promise to invest on their behalf, saying many have lost significant sums through such arrangements.
She emphasised that political office is temporary, making it important for legislators to build lasting wealth while they have the opportunity.
“These political positions are temporary. Today people believe in you, tomorrow they don't. But if you have acquired property, you will always have something to fall back on,” she said.
The induction seminar, which concludes this week, has focused on preparing legislators for their constitutional responsibilities while equipping them with practical skills in leadership, accountability, financial management and personal conduct.