Magaya meets RBZ Governor over bond notes


Prophetic Healing and Deliverance (PHD) Ministries leader Walter Magaya has warned that Zimbabwe’s economy is doomed unless “qualified and dedicated” people were urgently appointed to steer the economy and revive the fortunes of the country.

Responding to questions from journalists during his midweek church service, Magaya said radical changes were needed to avert a worsening economic crisis in the next five years.


“If we do not quickly call upon those with better minds to assist and create good policies and measures of enhancing the economy and continue in the same way we are today, for sure we will go into the red,” he said.

“But, as a prophet, where we are as Zimbabwe? What we have as Zimbabwe can give us a chance to have a transformation within six months.”

Magaya also disclosed meeting Reserve Bank of Zimbabwe governor John Mangudya on Tuesday to offer his spiritual advice following the announcement that government would soon introduce $200 million worth of bond notes to alleviate the current cash crunch.

The PHD Ministries leader said agriculture and mining should be the cornerstone of the economy, urging government to re-look at the people who benefited from the land reform programme.

“We need to go back to the drawing board in terms of farms and see those who are serious and make them partner with other serious organisations to resuscitate the aspect of farming,” he said.

“This can be done if we look at it seriously. In Zambia, there are 23/24 farmers who are supplying food to the whole country. We need to think about ways of making our farms go back to their original place of producing more than what we are doing right now.”

Magaya said government must plug financial leakages and promote local production as reliance on imports was causing cash shortages in the country.


It has been proved that some of the farmers have failed us. When I met the governor, I told him banks should not give loans to farmers, but they must partner them. Because if you give loans, the first thing they do is to build a house in Borrowdale. They want to do business with change, it’s very bad,” he said.

Magaya, who commands a huge following in the Pentecostal movement, said Zimbabweans needed to sacrifice and dedicate their lives to improve the well-being of the country through honest and corrupt-free activities.

He challenged President Robert Mugabe to deal with corruption, saying: “I am 500% sure that my President is not corrupt.

“He (Mugabe) is the one who is able to deal with corruption. He must create a strong system which must deal with corruption.”

Magaya said after engaging Mangudya, he was of the belief that government made an error in the manner it announced the introduction of the bond notes as it caused panic in the economy.

“I had a privilege of meeting the Reserve Bank governor for almost three hours. What I will say now is that the issue of bond notes is scaring people and what is in the minds of the people is not the intentions of the governor. Everyone thinks that bond notes are there to substitute the United States dollars or to cater for the cash crisis. I strongly believe that this is not a political issue, but a monetary issue,” he said.

“So, my best comment is that they introduced it in a wrong way. Because, according to my understanding, after the meeting with the governor, bond notes are like a coupon to say thank you for exporting. They should not make the issue political, and the governor has to clarify to the people and not allow politicians to lead the way.”

Comment with your Facebook