By Judith Nyuke
In a fresh legal blow to Walter Magaya, the High Court of Zimbabwe has ordered the embattled Prophetic Healing and Deliverance leader to repay US$3 million to an Israeli businessman dismissing his attempt to use local exchange control laws to void the debt.
The case filed under case HC 621/23, the High Court rejected Magaya’s attempt to use exchange control regulations to void a mining investment debt dismissing his proposal to repay the Israeli investors in local currency instead of the US$3 million advanced through Ambassador Ronny Levi Musan.
Justice Maxwell Takuva dismissed Advocate Garikai Sithole’s argument that Magaya’s debt was illegal, instead favoring Advocate Tazorora Musarurwa’s warning that such technicalities would stifle foreign investment.
Consequently, the court ordered Magaya to repay the US$3 million with 3% monthly compounded interest from July 2022 further authorising the execution of his immovable property to satisfy the debt.
“The defendant (Magaya) failed to prove illegality and has not shown any violation of Zimbabwean law by the plaintiff.
“Exchange Control Regulations apply only to Zimbabwean residents.
“The defendant is estopped from claiming illegality as he prescribed the payment method and benefited from it.
“Public Policy is averse to unjust enrichment, preventing the defendant from profiting unjustly from US$3000000.00.
“In the result, it is ordered that the preliminary point raised be and is hereby dismissed for lack of merit,” read part of the judgement.
