Magaya Loses Giant Church Hotel Over USD420,000 Debt👇Prophet Walter Magaya Loses Major High Court Case, Faces Dispossession of Famous Hotel
By Dorrothy Moyo | Harare, Zimbabwe — In a significant legal blow, Prophet Walter Magaya has lost ownership of his famous hotel and stadium after a ruling by the High Court of Zimbabwe’s Commercial Division. The court’s decision, made on October 9, 2024, allows the sale of the property to settle a debt of US$420,140.72 owed to GetBucks Microfinance Bank Limited.Walter Magaya
Magaya, known for his leadership of the Prophetic Healing and Deliverance Ministry, had recently hosted Zimbabwean President Emmerson Mnangagwa at his Heart Stadium earlier this year. However, this court ruling threatens to dismantle part of his business empire, following allegations of financial misconduct.
The court declared that the property, located on 3.2323 hectares in the district of Salisbury and held under deed of transfer No. 4076/2018, is to be sold to recover the debt. The ruling also confirmed an irrevocable special power of attorney allowing Atherstone & Cook legal practitioners to handle the sale and transfer of the property.
The defendants in the case—Magaya, his company Planet Africa (Private) Limited, and Tendai Magaya—were found in default, resulting in an order for them to pay legal costs and additional collection commissions.
“The irrevocable special power of attorney issued by the first defendant to the plaintiff on 8 March 2024 authorising Atherstone & Cook legal practitioners and any of their partners to sell and transfer the property above is hereby confirmed and declared specially executable,” the court ruling stated.
The debt settlement will also incur 10% interest per month starting from September 11, 2024, until full payment is made.
