HARARE – Walter Magaya Dodges Financial Reckoning Again as Court Grants Delay in Liquidation Case
Self-styled prophet and controversial PHD Ministries leader Walter Magaya has once again managed to evade immediate financial accountability, securing a one-week postponement in High Court proceedings that could see his personal assets liquidated over an unpaid debt of US$420,140.72.
Together with his wife, Tendai Magaya, the preacher is fighting a desperate rearguard action against GetBucks Microfinance Bank Limited, which is seeking to strip the couple of their estate under Zimbabwe’s Insolvency Act. The bank accuses the Magayas of financial recklessness and of deliberately evading repayment through legal loopholes and asset shielding.
The case, originally set for hearing on Wednesday, was postponed at the request of Magaya’s legal team, who claimed they needed more time to prepare — a familiar stalling tactic in what critics say is a calculated effort to avoid settling mounting debts.
This latest court maneuver is just one chapter in a long saga of evasion. A High Court judgment from October 2024 had already ordered the Magayas and their company, Planet Africa (Private) Limited, to pay the outstanding amount, plus interest accruing at a hefty 10% monthly from September 2024. Despite that ruling, GetBucks says the couple has gone to extreme lengths to dodge payment.
Court filings paint a picture of strategic asset concealment. Movable property at the Magayas’ home was shielded under a claim by The Walter Magaya Family Trust, while assets at Planet Africa’s premises were conveniently “claimed” by PHD Ministries. Even a piece of land in Salisbury, marked for forced sale, was yanked out of reach after Planet Africa suddenly entered corporate rescue proceedings — a move many see as an orchestrated delay to block the bank’s recovery efforts.
GetBucks is now asking the court to liquidate the Magayas’ estates, alleging they are insolvent, have ignored statutory demands, and have no visible assets left to seize. A Sheriff’s “nulla bona” return confirmed that attempts to attach property yielded nothing.
Adding to the urgency, GetBucks believes the Magayas may be preparing to flee Zimbabwe to escape their obligations. The bank has requested that the couple be ordered to surrender their passports to prevent a last-minute escape.
Noreen Chikaka of Reign Management Consultancy (Private) Limited has been nominated as liquidator, with GetBucks arguing that formal liquidation is the only way to protect creditors from further losses and force the Magayas to come clean about their real financial position.
Critics argue this case reinforces what many have long suspected — that behind the glitzy veneer of megachurch empires and miracle promises lies a man adept at manipulating the system, not just the faithful.
The matter is now scheduled for hearing on June 25. Until then, Walter Magaya remains free — for now — to continue preaching, while creditors wait for justice.