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I’ve set up a $10 billion business: Magaya

By Everson Mushava

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.

Walter Magaya
Prophet Walter Magaya

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.

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“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. NewsDay