Zim GBC News | Harare Correspondent
Harare-based preacher Prophet Walter Magaya and his wife, Tendai, have temporarily averted the liquidation of their estates after paying US$180,000 to GetBucks Microfinance Bank and agreeing to a settlement plan for the remaining debt.
This development follows a High Court application filed by GetBucks in June 2025, which sought to liquidate the couple’s estates over an outstanding debt of US$420,140.72. The bank had accused the Magayas of insolvency, alleging a “deliberate effort to evade payment and conceal assets.”
According to court documents, the parties have now reached an agreement. A deed of settlement has been signed, suspending the liquidation proceedings on the condition that the couple honours the new payment plan for the remainder of the debt.
This financial reprieve comes amidst a wave of legal and financial challenges for the Prophetic Healing and Deliverance (PHD) Ministries leader.
Just last week, the High Court authorised the auction of several PHD Ministries assets, including a hotel, lodges, a stadium, and other developments on Stand 168 in Prospect, Waterfalls, Harare. This order was granted in a case brought by Chinese national Li Xiu Yun.
Earlier this year, the Magayas also narrowly avoided losing another property after their company, Planet Africa (Private) Limited, voluntarily entered corporate rescue proceedings.
Court records further reveal that previous attempts by other creditors to seize movable property were blocked after the Walter Magaya Family Trust and PHD Ministries filed interpleader claims.
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