Magaya Could Lose Heart Stadium & Hotel Over Debt
Harare, Zimbabwe – The Commercial Division of Zimbabwe’s High Court in Harare has ruled that Prophet Walter Magaya’s hotel and stadium can be sold to repay a debt of US$420,140.72 owed to GetBucks Microfinance Bank Limited.
The ruling, issued on October 9, 2024, followed a default judgment against Magaya, his company Planet Africa (Private) Limited, and Tendai Magaya.
As part of the court order, the defendants were directed to cover the legal costs incurred by the plaintiff on a higher, legal practitioner-client scale.
A 3.2323-hectare property, which houses both the hotel and stadium, located in Salisbury district and held under deed of transfer No. 4076/2018, was declared available for sale to settle the debt.
The court also confirmed an irrevocable special power of attorney granted to Atherstone & Cook legal practitioners, allowing them to sell and transfer ownership of the property.
Magaya Could Lose Heart Stadium & Hotel Over Debt
The court order reads: “The immovable property owned by the first defendant, located in Salisbury district, known as the Remainder of Stand 166 of Prospect, measuring 3.2323 hectares and held under deed of transfer No. 4076/2018, is hereby declared executable.”
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It further stated, “The irrevocable special power of attorney issued by the first defendant on March 8, 2024, authorizing Atherstone & Cook to sell and transfer the aforementioned property, is hereby upheld and declared executable.”
The judgment requires Magaya and the other defendants to jointly and severally pay the amount owed to GetBucks, including legal fees and collection commission, with one party’s payment absolving the others.
In addition, the debt will accumulate interest at 10% per month, starting from September 11, 2024, until the amount is fully settled.
Magaya, who leads the Prophetic Healing and Deliverance Ministry, has faced multiple allegations in recent years, including charges of fraud and rape. He is currently under investigation by the Zimbabwe Gender Commission for allegedly sexually abusing several women.
