Delma Luepe's firms liquidated

Flamboyance once defined Bulawayo businessman Delma Lupepe, whose lavish lifestyle and deep pockets made him a household name in Zimbabwe's business and football circles. However, the once high-flying entrepreneur has endured a dramatic reversal of fortune over the past decade.

Lupepe rose to prominence in 2003 when he bankrolled Premiership football side AmaZulu FC, transforming the club into one of the best-paying teams in the league at the time. His financial muscle and flamboyant spending quickly made headlines, with the club attracting top players due to its lucrative contracts.

But Lupepe's strong religious convictions as a member of the Seventh-day Adventist Church soon created tensions within the football setup. As a staunch adherent, he led a campaign insisting that the team should not play matches on Saturdays, the Sabbath observed by his church. The stance proved controversial and ultimately contributed to the collapse of the club.

After the demise of AmaZulu, Lupepe redirected much of his generosity toward his church community. Known for his charitable gestures, he would often treat fellow congregants to Chicken Inn "two-piecer" meals and soft drinks after Saturday services — a luxury for many ordinary Zimbabweans.

At the height of his business success, Lupepe's investment vehicle, Maydeep Investments, was expanding rapidly. The company acquired several firms including Merspin, Merlin, Ascot Clothing Company and Glowweave. Merspin and Merlin specialised in napkin and towelling products, while Glowweave operated as a yarn manufacturing company.

However, the tide began to turn as financial troubles started mounting. Glowweave was placed under judicial management, followed by Bernard Construction and Merlin in 2014. The developments marked the beginning of a prolonged financial downturn for the businessman.

His troubles deepened in 2013 when two of his houses were auctioned after three financial institutions — Premier Banking Corporation, MBCA Bank, and Interfin Merchant Bank — obtained a writ of execution over unpaid loans.

Once known for his lavish lifestyle, Lupepe was later reported to be living in rented accommodation in Burnside. In 2016, he was evicted from a house in Matsheumhlope by Ecobank after allegedly failing to settle rental arrears amounting to US$18,000.

More recently, in 2024, Lupepe was evicted from another rented property at 8 Bluebird Road after accumulating more than US$20,000 in unpaid rentals. Reports indicate that the arrears had piled up over several months.

In addition to the rental disputes, some of Lupepe's properties — including a house in Suburbs and a flat in Ascot — were auctioned by Bulawayo Real Estate in a bid to recover outstanding debts.

The businessman's story reflects a dramatic fall from grace for someone who once commanded significant influence in Zimbabwe's business and sporting arenas. Once synonymous with wealth and flamboyance, Lupepe's fortunes have sharply declined, leaving behind a cautionary tale of the unpredictable nature of business and financial success.