Prophet Magaya faces estate liquidation

Prominent cleric and founder of Prophetic Healing and Deliverance (PHD) Ministries, Walter Magaya, is facing the possible liquidation of his estate after allegedly failing to settle a US$420,140 debt owed to GetBucks Microfinance Bank.

GetBucks has approached the High Court seeking permission to begin liquidation proceedings against Magaya, accusing him and his wife, Tendai, of deliberately frustrating efforts to recover the loan by claiming they own no attachable assets.

According to court documents, a High Court judgment was issued last year against Magaya, his wife, and their company, Planet Africa (Private) Limited, ordering them to pay US$420,140.72 plus interest. A writ of execution was subsequently granted, leading to the attachment of an immovable property owned by Planet Africa - a 3.2-hectare plot known as the Remainder of Stand 166 of Prospect, under Deed of Transfer No. 4076118 dated July 27, 2018.

The land was scheduled for public auction on March 28, 2025, as part of efforts to recover the debt. However, GetBucks claims the Magayas sabotaged the process by placing Planet Africa under corporate rescue just days before the scheduled sale.

In its latest court application, GetBucks accuses the couple of manipulating legal procedures to evade execution of the court order. The microfinance institution insists that apart from the Prospect property, there are no other known assets, and that the couple is using affiliated entities to shield themselves.

"These include the PHD Ministries and The Walter Magaya Family Trust," GetBucks stated. "The two have presented themselves as individuals with nothing and have used entities as agents. They should show the court how they are settling personal obligations and sustaining themselves."

Magaya, a controversial yet influential figure in Zimbabwe's religious and social spheres, is no stranger to legal and financial scrutiny. His wife Tendai is also a director in Planet Africa, the company at the centre of the dispute.

GetBucks is now seeking a provisional court order to proceed with the liquidation process of Magaya's estate. The lender has also requested punitive costs, accusing the couple of abusing the judicial process to delay compliance with the judgment.

The matter was scheduled for a virtual hearing on Wednesday.

As of now, Magaya and his legal representatives have not commented on the latest developments.