Prophet Magaya has failed to repay a $23 million Homelink loan and has been dragged to court. Magaya and his wife, Tendai bound themse...
Prophet Magaya has failed to repay a $23 million Homelink
loan and has been dragged to court.
Magaya and his wife, Tendai bound themselves as surety and
co-principal debtor to a loan extended to Yadah Connect (Private) Limited last
year. He now risks losing his sprawling property in Waterfalls, Harare, which
is used as a guest house.
Homelink extended a facility of $23 338 745 to Yadah
Connect in 2018. The parties agreed that the loan would be repaid in 33 monthly
instalments of $784 873,62 inclusive of interest, with effect from December
31 last year. Repayment was to be paid in US dollars. Magaya has failed to keep up with te repayments.
Magaya is yet to respond to the civil claim.
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