Magaya Couple Secures Temporary Relief from Liquidation Proceedings

Prophet Walter Magaya and his wife, Tendai, of Prophetic Healing and Deliverance Ministries, have secured a provisional stay of liquidation proceedings after reaching a partial settlement with GetBucks Microfinance Bank. The couple paid US$180,000 of a total US$420,140.72 debt and signed a deed of settlement to manage the remaining balance through instalments. This agreement suspends the bank’s High Court application, which sought to liquidate the Magayas’ personal estates amid allegations of insolvency and asset concealment.

The settlement provides temporary relief but comes amid growing legal and financial pressure. Last week, the High Court issued a writ of execution authorizing the public auction of key church assets, including PHD Ministries’ hotel, lodges, and stadium complex on Stand 168, Prospect, Waterfalls, Harare. The order was linked to a separate debt recovery case filed by Chinese national Li Xiu Yun.

Earlier in 2025, the Magayas’ company, Planet Africa (Private) Limited, entered voluntary corporate rescue proceedings to avoid collapse, highlighting broader financial instability. Creditors’ recovery efforts have been complicated by interpleader claims filed by the Walter Magaya Family Trust and PHD Ministries, which have repeatedly blocked the seizure of movable assets. This structure has shielded certain properties from court-ordered recovery.

While the partial settlement with GetBucks provides short-term relief, experts warn that ongoing litigation, mounting debt claims, and complex asset arrangements could continue to threaten the financial stability of the Magayas and their ministries.