Prophet Walter Magaya’s grand projects, the luxury hotel and FIFA-approved stadium that once symbolised the growth of Prophetic Healing and Deliverance Ministries, are now at the centre of a fierce legal and financial dispute.
What were once hailed as landmarks of religious investment have become contested ground, as two creditors with separate High Court writs circle the same properties in Waterfalls.
At the core of the fight are two adjoining parcels of land, Stand 166 and Stand 168 along Smuts Road in Prospect. Each of these properties is described as housing a hotel, cluster lodges and a stadium, creating confusion over boundaries and fuelling suspicion that Magaya’s mega-complex straddles both stands. This overlap has given rise to what lawyers call a “double encumbrance”, with both creditors appearing to chase after the same prize assets.
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GetBucks Microfinance Bank Limited was the first to move. The lender is demanding repayment of just over US$420,000 from Planet Africa (Pvt) Ltd, Walter Magaya, Tendai Magaya and PHD Ministries. Backed by a High Court order requiring repayment by June 2025, the bank obtained writ number SH3298/25 and moved to auction Stand 166, a 3.2323-hectare property said to contain the hotel and stadium. The process, however, has not been straightforward. Just days before the auction, the debtor company was placed under Corporate Rescue, effectively suspending the sale. GetBucks has accused Magaya’s camp of deliberately exploiting legal loopholes to frustrate recovery, describing the manoeuvre as an abuse of procedure and evidence of insolvency that warrants liquidation of the debtors’ estates.
Soon after, Chinese businessman Li Xiu Yun entered the arena with his own claim. He obtained a separate writ, SH3294/25, against PHD Ministries and targeted Stand 168, the neighbouring 3.8428-hectare property. This stand, too, is described as hosting a modern hotel, cluster lodges and a stadium almost identical to those listed under GetBucks’ claim. Although inspectors were reportedly denied access to the site, visible structures on the land reinforced suspicions that Magaya’s development spills across both stands, now under competing claims.
The Sheriff of the High Court faces a daunting challenge: how to execute both writs without selling the same property twice or plunging the matter into deeper litigation. The possibility of duplicate auctions threatens not only to erode the value of the assets but also to prolong the creditors’ quest for repayment.
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