The Speaker of parliament, Rt Hon Rebecca Alitwala Kadaga has told the newly elected members of parliament to avoid city loan sharks who will present attractive loan offers to them.
“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,” said Kadaga in a Facebook post.
The post further reads that; “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.”
This website understands that several MPs have been chocking on loans that they acquire to sustain their lavish lifestyle.
New Members of parliament will take oath come May 2021.
