Walter Magaya’s Property To Be Auctioned Off Over Getbucks Debt, Days After Losing US$3M Case To Israeli Partner

Controversial preacher Walter Magaya faces a devastating financial double blow as his property heads to public auction over a debt to Getbucks Microfinance Bank, mere days after losing another case that ordered him to pay US$3 million (approximately R54 million) to an Israeli business partner. The Prophetic Healing and Deliverance Ministries leader now confronts the potential loss of multiple properties as creditors close in on mounting debts totalling millions of dollars.

Graham & Douglas Real Estate has announced that Magaya’s property will be sold by public auction on Friday, 27 February 2026, at Raylton Sports Club in Harare. The auction notice, issued under instruction from the Head of Sheriff Services of the High Court of Zimbabwe, lists multiple properties connected to the preacher and his business interests.

The auction includes Stand 166 Smuts Road in Prospect, Harare, measuring 3.2323 hectares, which features a six-bedroom house with lounge, dining room and staff quarters. The property is held under Deed of Transfer number 407 6118 dated 27 July 2018 by Planet Africa (Private) Limited, a company where Magaya and his wife Tendai serve as directors.

Additionally, the auction features an 8.7146-hectare property at No.6 Caledon Avenue in Prospect, Waterfalls, Harare, which could not be accessed by auctioneers for inspection. This property represents the Remaining Extent of Stand 8 of Prospect.

The legal battle between Getbucks and Magaya stretches back to June 2025, when the microfinance bank first approached the High Court seeking to liquidate the preacher’s estate over a US$420,140.72 debt. Court documents reveal that Getbucks secured a judgment against Magaya, his wife, Tendai, and Planet Africa (Private) Limited for repayment of the sum plus interest.

According to NewZimbabwe, Getbucks alleged that Magaya had “frustrated efforts by the company to recover its money, declaring he has nothing.” The bank claimed that Magaya and his wife had committed acts of insolvency and abused legal procedures to block execution of the court order.

The bank further alleged that entities linked to Magaya, including PHD Ministries and The Walter Magaya Family Trust, had been used to frustrate the genuine execution of court orders.

The auction news comes just days after Justice Maxwell Takuva of the High Court delivered a crushing blow to Magaya’s finances. On 21 February 2026, the court ordered the preacher to repay US$3 million to Israeli businessman Ronny Aharon Musan Levi, together with interest at 3 percent per month compounded monthly from 1 July 2022.

The judgment stems from a Memorandum of Agreement dated 12 May 2022, under which Levi provided US$3 million for a mining project. Magaya had agreed to register a first-ranking mortgage over his Yadah Hotel Properties within 30 days as security, but failed to do so. He also failed to repay any portion of the principal sum.

Magaya’s defence team, led by Advocate Garikai Sithole, attempted to argue that the transaction was void due to a lack of Reserve Bank of Zimbabwe approval under exchange control regulations. They suggested the debt could be repaid in local currency rather than US dollars.

The court found that allowing Magaya to benefit from the full US$3 million while avoiding repayment would turn the law into “an engine of fraud.” Justice Takuva also delivered a pointed observation about the contrast between Magaya’s legal conduct and his religious position.

The court awarded costs against Magaya on a higher scale, citing abuse of process. The ruling makes Magaya’s immovable property executable to satisfy the debt, putting his assets at direct risk of seizure.

These latest developments follow a troubling pattern for the PHD Ministries leader. Earlier in 2025, Planet Africa (Private) Limited entered voluntary corporate rescue proceedings to avoid collapse. Court records indicate that previous attempts to seize the Magayas’ movable assets have been blocked by interpleader claims filed by the Walter Magaya Family Trust and PHD Ministries.

In June 2025, Magaya secured a provisional stay of liquidation proceedings by paying US$180,000 toward the Getbucks debt and signing a deed of settlement for the remaining balance. However, the auction notice suggests this arrangement has collapsed or proved insufficient to satisfy creditors.

The preacher also faces separate legal troubles unrelated to his financial difficulties. He currently stands trial on four counts of rape involving adult congregants, with allegations spanning from 2016 to 2023.

Prospective bidders for the auctioned properties must pay a security deposit of US$5,000 (approximately R90,000) cash or through nostro, plus a non-refundable US$120 (approximately R2,160) for a special bidders card.

The sale shall be for USD cash or nostro, with the purchaser additionally responsible for auctioneer’s commission of 5 percent plus VAT, transfer costs including conveyancer’s charges and stamp duty, and all arrears rates.