Magaya reveals how he lost a million in 6 months when he used to "burn" Zim dollars

Preaching on wisdom in line with the church’s 2017 theme of “Shifting to higher levels and maintaining them” during last week’s Wednesday service, Prophetic Healing and Deliverance Ministries (PHD) founder, Walter Magaya revealed how, due to lack of wisdom, he lost millions of dollars earned through ‘burning’ money deals during the hyper-inflation year of 2008 due to lavish spending.

Said Magaya:

During those days I was one of the biggest exchange dealers. I had enough to stand on top of a hill. I got a million, which was the second million I had made; but it lasted six months. If you ask me what l did with it, I cannot remember. We would get into a supermarket in town, order them to close shop and tell them, ‘We are buying the whole shop’. But look at the things we would buy – biscuits and trolleys of meat. When we got to Chitungwiza, I would invite all the people who resided in my street for braai parties. As l was spending, I would say tomorrow l will do another deal but opportunities do not come every time. I have friends who invested properly at that time. A certain lady named Mrs Chanetsa cried when she came to where I lived for the deal we intended to enter into. She said she didn’t know I was struggling that much. I had a round small stove, one bed and a wardrobe. If you wanted to see your full reflection on my wardrobe’s mirror, you had to move some meters backwards. As four people, we would sleep on a single bed with two facing opposite sides so we could all fit.

More: Sunday Mail