The Speaker of Parliament Rebecca Kadaga (pictured) has advised newly elected MPs to go slow on loans from commercial banks and money lenders.
“I appeal to newly elected MPs not to fall prey to commercial banks and money lenders, especially before being sworn into office — in June — and reflecting deeply on their expected income; and any need to borrow,” Kadaga said via her official facebook page.
She added: “Loans, which range from 500m/- to a billion plus shillings, are usually dangled before new MPs after every election cycle.
Unfortunately, these extremely attractive loans eventually become a source of misery for several MPs.”
It should be noted that a number of MPs have lost their properties to banks and money lenders after failing to honour their loan obligations.
