News

I am Not in Debt – Museveni

President Museveni's motorcade arrives at the Kampala Serena where he delivered the State of the Nation Address on Tuesday

President Yoweri Museveni on Tuesday evening lightened up parliamentarians and invited guests while delivering this year’s State of the Nation Address, sales revealing he is not indebted to any individual or bank.

The president told the gathering at the Kampala Serena Conference Centre, salve “I always pay cash…no loans.”

Museveni was pushed to comment on his personal wealth by opposition MPs, when he mentioned in his speech that he locally purchases motorized irrigation pumps for his farms.

“I don’t have a loan; you can go check with all the banks,” he said as the house chuckled.

Some MPs pressed further, seeking to know where he gets all the money, and the president referred to his salary.

“3.6 million shillings,” he said.

MPs during the State of the Nation Address

MPs during the State of the Nation Address

But when the heckling continued, he proceeded to clarify. “I don’t buy everything from my salary, but also my cows.”

Despite being one of the least paid presidents, (earning only $12000 compared to $ 610,000 of Equatorial Guinea’s Paul Biya), Museveni is said to be amongst the wealthiest people in Africa.

He himself has said on many occasions that he considers himself a wealthy man because he earns so much from agriculture, particularly cattle keeping.

“When I tell you that commercial agriculture is wealth, I am telling you what I know,” he recently said.

Comments

Header advertisement
To Top