A Zimbabwe court will decide if Walter Magaya must sell his personal property to pay back money he owes. GetBucks Microfinance Bank says the religious leader and his wife Tendai owe $420,140. The debt has grown to about $990,000 because of monthly interest charges since September 2024. Bank officials want to force the sale of assets after other collection efforts failed. Court papers show the couple has not responded to payment demands.
The bank won a court case against Magaya last October but still cannot collect the money. Officials planned to auction his 3.2-hectare property in Salisbury during March 2025. Planet Africa Private Limited stopped the sale when it filed for business rescue protection. The company connects to Magaya's business interests. Bank investigators say they cannot find other property or money that belongs to the family.
Legal documents reveal that sheriffs could not find anything valuable to take from the Magayas. The couple appears to have no money or assets that courts can seize. GetBucks tried many ways to collect the debt before going to court. The case could change how banks recover money from borrowers across Zimbabwe. Courts will soon rule on whether the property sale can move forward despite the business rescue filing.
The bank won a court case against Magaya last October but still cannot collect the money. Officials planned to auction his 3.2-hectare property in Salisbury during March 2025. Planet Africa Private Limited stopped the sale when it filed for business rescue protection. The company connects to Magaya's business interests. Bank investigators say they cannot find other property or money that belongs to the family.
Legal documents reveal that sheriffs could not find anything valuable to take from the Magayas. The couple appears to have no money or assets that courts can seize. GetBucks tried many ways to collect the debt before going to court. The case could change how banks recover money from borrowers across Zimbabwe. Courts will soon rule on whether the property sale can move forward despite the business rescue filing.
