President Museveni calls for financial discipline among newly elected MPs
“Income alone does not create wealth; it is investment that creates wealth. If you cannot make money while seated, you will work until you die,” he noted.
Kyankwanzi: President Yoweri Kaguta Museveni on Thursday urged newly elected Members of Parliament to prioritise financial discipline and ideological reforms as they prepare to serve in the 12th Parliament.
Speaking during the third day of the ongoing NRM leaders’ retreat at the National Leadership Institute (NALI), Kyankwanzi, President Museveni said sound financial management and principled leadership are critical for effective service and personal stability.
“I was pleased to hear presentations by experts on personal financial management and wealth creation for leaders. These are crucial areas that you must take seriously,” President Museveni said.
The President emphasised that Uganda’s future is promising but cautioned that leaders must be grounded in ideology to avoid mistakes.
“The future is bright and everything is there, but you must be ideologically clear. If you are not, you will end up making mistakes. Always weigh your actions according to principles,” he said.
He attributed persistent political challenges such as conflicts in party primaries, bribery, and arrests to ideological weaknesses among leaders.
“All these mistakes such as fighting in primaries, cheating, and arrests are a result of ideological underdevelopment. Avoid shortcuts. If you take that route, you will fail. I appeal to you to practise principled politics,” President Museveni added.
President Museveni further underscored the importance of long-term planning and self-reliance among leaders.
“Our financial independence is very important. You must plan from day one,” he emphasised.
The retreat also featured expert sessions focusing on financial discipline, with facilitators warning legislators against reckless spending and poor financial planning.
On his part, Prof. Moses Muhwezi, Principal of Makerere University Business School, cautioned that many leaders fall victim to “sudden wealth syndrome” and lifestyle inflation.
“Lifestyle inflation is dangerous. As your income increases, your expenses also rise, which affects savings and investment,” Prof. Muhwezi said.
He advised the MPs to plan early, invest wisely, and maintain consistent savings.
“Income alone does not create wealth; it is investment that creates wealth. If you cannot make money while seated, you will work until you die,” he noted.
Another facilitator, Mr. Arthur Kiwanuka, encouraged the legislators to build financial resilience and invest in sustainable sectors such as agriculture.
The event was attended by the Speaker of Parliament, Rt. Hon. Anitah Among, the Deputy Speaker, Rt. Hon. Thomas Tayebwa, the Prime Minister, Rt. Hon. Robinah Nabbanja, the NRM Central Executive Committee members, the NRM Newly elected MP and the party-leaning independent legislators.
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