Deputy Speaker of Parliament Thomas Tayebwa has surprised Ugandans after revealing that he once operated a thriving money-lending business that attracted hundreds of legislators and government officials. Tayebwa disclosed that nearly 60 per cent of Members of Parliament and Cabinet ministers in the 10th Parliament had borrowed money from him. His revelation came on Friday, October 23, 2026, during an inter-religious thanksgiving service for the 12th Parliament, where he challenged lawmakers to manage their salaries wisely and invest in businesses that could secure their financial future.
Tayebwa explained that his financial success during his first term in Parliament was partly linked to businesses he had operated in South Sudan before joining elective politics. He said he had accumulated considerable wealth during that period, allowing him to lend money to fellow politicians who needed financial assistance. His business reportedly became so successful that a significant number of MPs and Cabinet ministers depended on him for loans, making him one of the prominent money lenders within political circles at the time.
“In the 10th Parliament I was a money lender. I had a lot of money. Nearly 60% of Parliament and Cabinet owed me money. I was a big money lender doing well. I had just come from South Sudan. Money was flowing,” Tayebwa said. His remarks have attracted attention because they reveal a lesser-known side of his financial journey before he rose to become Deputy Speaker of Parliament. With the 10th Parliament having more than 420 legislators, his account suggests that hundreds of lawmakers and ministers could have been among those who owed him money.
The Deputy Speaker, who entered Parliament in 2016 as the Ruhinda North MP, used his experience to warn current legislators against depending entirely on parliamentary salaries and allowances. He argued that political office should be treated as an opportunity to build sustainable businesses and investments rather than simply earn money. Tayebwa emphasized that MPs must prepare for life after politics because parliamentary positions are temporary, and failure to plan ahead could leave former leaders struggling financially once they leave office.
Tayebwa further revealed that some former MPs who recently left Parliament were already facing difficulties meeting basic expenses, including school fees and medical bills. He said their situation should serve as a warning to serving legislators who have not invested wisely during their time in office. According to him, leaders should learn how to identify profitable ventures, manage their earnings and establish alternative sources of income that can support them and their families long after their political careers come to an end.
In another revelation, Tayebwa recounted how he once attempted to convince nine fellow MPs to join him in a major property investment project during the 11th Parliament. His proposal involved each legislator contributing Shs1 billion to establish a company that would purchase land and construct residential apartments. He said he had identified an acre of land in Naguru, Kampala, that a friend was willing to sell for $800,000, approximately Shs2.5 billion at the time. The plan was intended to help the legislators combine their resources and venture into a profitable real estate business.
Under the proposed arrangement, the investors would use the remaining Shs7.5 billion to construct 30 apartments. Twenty units would be sold to recover the initial investment, while each of the ten investors would retain one apartment valued at approximately Shs1 billion. Tayebwa hoped the group could use the proceeds to finance additional developments and repeat the process several times within a single five-year parliamentary term. However, the ambitious project failed to attract enough support, with only about three legislators reportedly expressing willingness to contribute to the proposed venture.
Reflecting on the failed plan, Tayebwa argued that many Ugandans prefer to own businesses individually rather than pool resources to establish larger investments. He compared this attitude with practices in Kenya, where group investments can enable individuals to undertake projects that would otherwise be difficult to finance alone. His message to lawmakers was clear: political leadership should go hand in hand with financial discipline and long-term planning. Tayebwa’s revelation about lending money to hundreds of politicians has now placed renewed attention on how legislators manage their earnings and whether they are adequately preparing for life beyond Parliament.
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