I’ve set up a $10bn business: Magaya


Prophetic Healing and Deliverance Ministries (PHD) leader Walter Magaya says he has set up a $10 billion business venture, Planet Africa, to carry out projects in various sectors including mining and construction.


Magaya told NewsDay over the weekend that the business project also involves some “reputable international investors” whom he refused to disclose.
According to a company brochure gleaned by NewsDay, Planet Africa will be partly funded by Magaya’s various investments like Yadah TV and Tahila Praise in South Africa.

“Our financial solutions are squarely aligned to African enterpreneurial ideals,” Magaya said.

“Planet Africa has the financial capacity to sponsor projects up to $10 billion.”

Magaya said Zimbabwe was desperate for foreign direct investment and his company will be a vehicle through which foreign businesses could invest in the country.
Zimbabwe is currently experiencing severe economic challenges that have seen several companies closing shop and throwing thousands of workers out of formal employment.

According to the brochure, Planet Africa is incorporated in terms of the Companies Act, Chapter 23:03 and registered as a wholly-owned Zimbabwean company. Magaya said his company’s vision, mission and values dovetailed with the government economic blueprint, ZimAsset.

He said the company will also have interests in water and sewer managemt, trafic lights fitting, among others.

“We believe that African transactions require tailor-made African solutions,” he said. “Our financial capacity solutions are aligned to African entrepreneurial ideals.”

Magaya’s church has registered phenomenal growth over the past three years with thousands of people from various sections of society including politicians and musicians flocking to his church in Waterfalls, Harare, for spiritual healing.

The youthful church leader has of late been bailing national soccer teams and people seeking financial help to travel outside the country for specialist medical treatment. His critics have, however, expressed doubts over his supernatural powers with the Apostolic Christian Council of Zimbabwe accusing him of using magic to attract congregants to his church.


  1. Magaya now flogging a dea ZimAsset horse. We have heard this from Angel now he can’t set foot in Zimbabwe. Now its Magaya. INI zii zangu!

  2. Imari yevanhu iyo. Wake up Zimbabweans especially those who go to his church, this is day light robbery. where on earth has he worked for that money if not from the pockets of his followers!

    • kudzi@ why always judge. nxaaa you have no story, the business project is gonna go on. Thank you Prophet Magaya for raising up Zimbabwe

  3. @jada. …..in your perfect disillusioned state of mind where would Mr Magaya have acquired even a tenth of what he is obviously over-ambitiously stating here. ..these are not Zim dollars dear. Zimbabwe owes external creditors about that much (according to my uneducated assumption) why would you be so naïve to think that the man of God can miraculously raise that kind of cash? If he can then we will all be happy. but we will require a probe into the origins of the finances for transparency reasons

  4. With this business project a lot of people will be taken away from the streets, thank you prophet Magaya for raising the hopes of our nation zimbabwe, Zimbabwe will never be the same again..

  5. even the reserve bank does not have $10 billion , get real prophet dont be a politician and start lying, say we are hoping to attract investments of $10 billion, dont say we have R10 billion lined up becoz you dont have that kind of money even Motsepe haana mari yakadaro, also you dont have the financial clout to get that kind pf backing even Mugabe does not have it

  6. Suck them Magaya. Ita zwekuvakwepa sefodya yeBute. Pavachazopepuka iwe unenge wafamba nebhora.

    Kkkkkkkk kuswika mati Baba ma blind Zim Zim.

  7. He is investing it but really Zimbabwe is looking for a $10bn to kick start ZIMASSETT and Magaya has a 10bn investment portfolio then there is going to be massive change in the country. In this case Geshom Pasi can now visit Magaya and see if Planet Africa is paying taxes.

  8. 10 billion businessinitiative and 10 billion capital zvinenge zvakati siyaneyi. Reporter dai vanyatsotaura chaizvo. I doubt if this report is accurate.

  9. The government of Zimbabwe debt is US$10 billion, so rather than fix street lights maybe Magaya could pay off the debt, receive the order of the Zimbabwean Empire and get all 13 million Zimbabweans to attend his church in return for life? I tried the numbers and I cannot see how one can raise such an amount in Zimbabwe, even with control of all the diamonds at Chiadzwa????? Al Queda might be another source? Miracle money?

  10. only a fool will believe this but most zimboz are fools they believed the diesel from a rock

Comments are closed.