By Staff Reporter
Harare – The Harare High Court’s Commercial Division has ordered the sale of Prophet Walter Magaya’s stadium and hotel to settle a debt of US$420,140.72 owed to GetBucks Microfinance Bank Limited.
The court’s decision, handed down on October 9, 2024, follows Magaya, his company Planet Africa (Private) Limited, and Tendai Magaya being found in default of their loan obligations.
In its ruling, the court declared a piece of land measuring 3.2323 hectares, where the stadium and hotel are located, specially executable.
An irrevocable special power of attorney was also confirmed, authorizing Atherstone & Cook legal practitioners to sell and transfer the property.
“The first defendant’s immovable property known as certain piece of land situated in the district of Salisbury called the Remainder of of Stand 166 of Prospect measuring 3, 2323 hectares held under deed of transfer No 4076/2018 and dated 27 July 2018 is hereby declared specially executable,” the judge ruled.
“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 defendants shall pay, jointly and severally, the one paying the others to be absolved, the plaintiff’s costs of suit on a legal practitioner and client scale, and collection commission in accordance with the Law Society of Zimbabwe by-laws,” further ruled the judge.
The ruling grants judgment in favor of GetBucks Microfinance Bank Limited against the defendants jointly and severally, totaling US$420,140.72, with interest at 10% per month from September 11, 2024, until full payment.
Magaya, founder of the Prophetic Healing and Deliverance Ministry, has faced several allegations in recent years, including rape and fraud.
The Zimbabwe Gender Commission is currently investigating him over allegations of sexual abuse.
The court’s decision may have significant implications for Magaya’s business empire and reputation.
His stadium, known as the Heart Stadium, was inaugurated by president Emmerson Mnangagwa in December last year and has been touted as a state-of-the-art facility.
