Magaya meets Mangudya over bond notes

HARARE - Prophetic Healing and Deliverance (PHD) Ministries leader Walter Magaya on Tuesday met Reserve Bank (RBZ) of Zimbabwe Governor John Mangudya over the contentious introduction of bond notes — and got assurances that the introduction could be the solution to the present cash crisis.

Magaya revealed the development on Wednesday evening during a church service in Harare.

The local televangelist, who claims Nigerian preacher Temitope Balogun Joshua — popularly known as TB Joshua — is his spiritual father, said his encounter with RBZ boss totally convinced him to back the controversial bond notes.

“After speaking to the governor, I realised that the notes are a step in the right direction, only that they were not properly presented to the people. Bond notes are coming in as a coupon, or tokens of appreciation.

“Government should go back to the people, properly explain what the bond notes are and how they are going to help the nation.

“I feel that they are the solution and they will help ease the situation. They should again engage the media and have the message out there on what the bond notes are about.

“What is on people’s minds is not what God wants to implement in the country,” said Magaya.

Magaya went on to say that all is not yet lost in the country, despite the many trials and tribulations that Zimbabweans are going through under Zanu PF’s rule.

“I am 500 percent sure that my president (Robert Mugabe) is not corrupt. There is need for the leaders to implement well national policies such as Indigenisation and stop leakages.

“If all is well embraced, we need less than six months to revive this country’s economy.”

The PHD leader said Zimbabweans must strive to increase production and manufacturing so as to get the much needed foreign currency.

“As a country, we must try to promote local products such that money will circulate among ourselves, locally.

“The Chinese sell their products here and enjoy the profits (money) in their country of origins and as a result we will end up experiencing cash shortages here.”

He also urged the government to carry out a land audit on resettled farms so as to weed out multiple and absentee owners.

“I heard that the maize (150 000 tonnes) we are currently feeding on was produced by one farmer, so you can imagine what would happen if we had six competent farmers.

“Most of the competent farmers who left the country are doing well in Zambia where we are importing maize from, hence I urge the government to carry out land audit and take necessary measures on those who are not productive.

“In fact, I encourage banks not to give loans to the farmers.

“They should instead partner them in farming so that the money is not used for other purposes.

“A person is given money for farming and goes on to build a house in Borrowdale, then use the change to farm. It is not proper.

“It is a pity that the majority of land reform beneficiaries are now engaging in fuel dealings . . . instead of using the fuel to develop their farms,” he said.

Comments (46)

MAGAYA?? WHO IS HE ON THE ISSUE OF FINANCE,,ZVIMWE MUNANYARA.

MUDIRO - 27 May 2016

So actually after saying at one point (as warning) that bond notes would lead to the repetition of some past events, now he is actually saying bond notes are okay they just need proper explanation. I now wonder what's real, the god that speaks to him, his conscience, or just the proper explanation by the governor?

Peter - 27 May 2016

ooh buoy!! there goes the klever cats in zanu! they know walter's got a huge congregation and the boy is playing plc relations for mangudya & chinamasa afta the pple have repudiated this fallacy of export incentives. some fake phd holders tried 15th century theories like greshams & thiers without success here. now they want to tek advantage of plc submissiveness, meekly obediance & obsequious acceptance of today's timid congregants (most of which are not even Christian) who tec everthing that prophets ( both tru & false) say , from annointing water/oil to annointed condoms! maybe the bond notes are annointed, who knows? faith is the best so believe!

SaManyika Chaiye - 27 May 2016

When a "Nation"'S RESERVE BANK GOVERNOR relies on a false prophet for monetary policy prescription, you know that for sure that country has gone to the dogs. I am amazed at the tomfoolery and foolishness in the circus called Zimbabwean government. Mugabe spends a lot of his time in the air going to Papua New Guinea of all places! What deals or partnerships do we except from that small and remote Island Nation? But here we are with a president burning the little cash around to go there> Does anyone really think this is meant to be a trip for the improvement of Zimbabweans pple's lives or those of RGM and his closest allies because they can get paid for travel and subsistence.

gudo - 27 May 2016

The true is that the Prophet was called to RBZ and told to advise his congregants since he commands a lot of them.

Thomas - 27 May 2016

gudo.. this is a true man of God.

Thomas - 27 May 2016

Small cannot help but imagine the circus and hullaballoo in Zanu PF. desperate times call for desperate measures but this aint gonna help. This Mangudya guy needs to be very serious else we will soon call him the "clown governor" How dare can he address 1 individual? I think my illiterate grandmother will make a better governor than this political appointee. Call them bond notes, tokens of appreciation or whatever, the thing is Zimbabweans are not so cheap to buy your falsehoods anymore. You cheated us in 2008 and no way are we going to accept bond notes. We will simply reject. mukutononoka kumaunza bacause takamaramba kare. bring them today so that you see the reality for yourselves.

Locardia Matambanadzo - 27 May 2016

Its even getting worse. They are desperate to raise funds to oil the rigging machine come 2018. hatichade and hatichatye. No to bond notes in this country.

letwin d mandishona - 27 May 2016

In Marketing you identify and engage Opinion Leaders in the society whom the public look upon and admire. The Public will always follow these unique personalities be it in Sport Tiger Woods in golf and Nike, Soccer Ronaldo, Messi et al. The same with Magaya if he okays something his flock will follow.

Kambiri - 27 May 2016

This is a true man of God believe it or not even the time of Jesus those who persecuted him ended up being the best christian advocates. You are only playing your political hate games by these comments to satisfy your politically eroded minds.

enock - 27 May 2016

Nonsense. Iya Magaya should collect bond notes from his meek followers including chegumi. He should delve into matters of economics he has no fundamentals on. Stupid. What does he take us for? If the prevailing status quo has helped line his pockets because pple are desperate and gullible he should he stop continuing to patronize suffering people. Nonsense. Magaya should be speaking against corruption in high places and stinks to high heavens the reason why Zimbabwe is this mess. Nonsense

v - 27 May 2016

Your anger will kill you. Go on

enock - 27 May 2016

Honestly zvimwe zve zvinhu tipeiwo ma serious is Va Magaya now the Finance Miracle Minister turned a politician? On his behalf is he speaking regarding Bond Notes? Hazviite the church should not meddle in RBZ affairs Ndiko kunonzi kutadza uku!

Tonderayi Chanakira - 27 May 2016

please MR MAGAYA you know nothing about economics.please you are a prorphet the last time i checked.hatina kumbnzwa chikoro chamakaenda..we love as a prophet and we respect you for that..

fhg - 27 May 2016

Zimbabwe has degenerated into some archaic country. The story is evidence that we are not going anywhere, the self destructive button is stuck on. Let us all die. My people perish because of lack of knowledge and wisdom.

Zvichapera - 27 May 2016

the boy walter seem to be backtracking from his earlier comments on the same subject! i think he was warned by the notorious cio for trying to subvert mangudya authority by influencing plc opinion on bond notes. the boy must have been told to retract and clean his mess. poor buoy walter! these maggots will ensnare you and expose your deeds if yu not keful!

SaManyika Chaiye - 27 May 2016

Magaya abudapachena kuti he is a fake prophet zvechokwadi.Warning yaakambopa yakange yabva kupiko, it was God how come he does not say God met Mangudya. Muchtongwa naMwari va Magaya for you are supporting the wicked government to cheat on the poor, opprssed, widows and orphans. Zvimwe munanyarara kune vakuru vanofamba naJesu vakanyarara wani. The Bible says God does not change who changed the word from God if it was God who gave you insight?

chinyere - 27 May 2016

When a Prophet speaks,the wise listens...Good advise from the Man of God....MBIRI KUNA JESU!!!!

gladys - 27 May 2016

When a Prophet speaks,the wise listens...Good advise from the Man of God....MBIRI KUNA JESU!!!!

gladys - 27 May 2016

Magaya should tell us the reason why he now believes the printing of Bond Notes is a solution to the current cash crisis. John Bond's boss Patrick Chinamasa was recently interviewed in Lusaka , of Zambia and this is what re said: "We believe the introduction of bond notes will help stop the country from being a fishing pond of USD" "A lot of companies, so called investors, come to fish out our USD resources and that is what is producing the shortage". Basic economic will tell u that the printing of bond notes will lead to inflationary conditions in the Zimbabwean economy and will produce a thriving black market in forex, goods and services. Forex allocations will generate corruption and create a forex/bond notes parallel market. The chefs will get their forex from official allocations while the povo will buy forex expensively from the black market just like it was in 2008. By the same logic the United States of America should print their own American bond notes to curb externalisation of their USD. So is Magaya convinced by Mangudya's voodoo economics?

Herbert - 27 May 2016

pple are just complaining here on the internet nemudzimba yet very hesitant to approach the reserve bank and tell the govenor how you feel about the issue of bond notes. munhu woda kuzviita wakadzidza ipopasina enda unotaura navamgudya vacho kana chinamasa their offices are open they dont kill people for asking whats going on.

complaining machines - 27 May 2016

despite the fact that Magaya is a Prophet, i think its his right a Zim citizen to visit the governor or any ministry and seek clarification on what he doesn't understand. take for example Evans Mawarire the this falg Pastor he had to do something about Zim as a citizen of Zim

complaining machines - 27 May 2016

I BELIEVE IF OUR LEADERS LIKE WHAT OUR RBZ BOSS DID,THAT OF SEEKING VOICE OF GOD FROM OUR PROPHERTS.IT WILL HELP US AS A NATION TO REFOCUS OUR ENERGY ON POSITIVES,,,,PROPHERT MAGAYA IS THE PROPHERT OF OUR GENERATION SENT TO SOLVE OUR PROBLEMS

NGONI - 27 May 2016

I BELIEVE IF OUR LEADERS LIKE WHAT OUR RBZ BOSS DID,THAT OF SEEKING VOICE OF GOD FROM OUR PROPHERTS.IT WILL HELP US AS A NATION TO REFOCUS OUR ENERGY ON POSITIVES,,,,PROPHERT MAGAYA IS THE PROPHERT OF OUR GENERATION SENT TO SOLVE OUR PROBLEMS

NGONI - 27 May 2016

I BELIEVE IF OUR LEADERS LIKE WHAT OUR RBZ BOSS DID,THAT OF SEEKING VOICE OF GOD FROM OUR PROPHERTS.IT WILL HELP US AS A NATION TO REFOCUS OUR ENERGY ON POSITIVES,,,,PROPHERT MAGAYA IS THE PROPHERT OF OUR GENERATION SENT TO SOLVE OUR PROBLEMS

NGONI - 27 May 2016

nhay @NGONI, did the leaders sought the voice of God or the the prophet who sought the voice of the leader?

SaManyika Chaiye - 27 May 2016

Of course Magaya is singing for his supper.No sane professional would ever waste his time working in a political environment which is so confused which can only serve to destroy one's reputation.It is so clear that Magaya is being sponsored to pacify the suspicious public since he commands a large following in his church,if he continues rubbing shoulders with people who have lost credibility,he would have no one to blame but himself.This bond notes issue has attracted the displeasure of the business community and the generality of the public at large.,then why is Magaya taking upon himself an unenviable task of being a public relations officer on issues that he has very little knowledge about?

Gen. Spinola - 27 May 2016

@gen. Spinola; you can tune that track again & again. the man-of-cloth seem to be afraid of the pius ncube style after he initially criticised the infamous bond notes.

SaManyika Chaiye - 27 May 2016

Darkness will not fight another darkness. They work together actually: Magaya and Mangudya. History will judge u. why seek the wisdom of Mangudya and not that of God prophet? or tell us the truth u were threatened

Mona - 27 May 2016

Reminds me of the 'Dhiziri PaChinhoyi' fracas. Nomatter how highly educated our ministers and other government officials are, they can stoop so low as to the extent of engaging dubious n'angas and so called prophets for matters that are purely economic and scientific!!

Maff - 27 May 2016

Ngaatibvire Magaya indaba asina kukwana ndiani kuda kutivudza nezvemapepa eZANU . Muporofita ibenzi mhani pfutseki Magaya

MukarangawekuMberengwa - 27 May 2016

Zimbabwe is in this mess becoz of people like" Complaining Machines" above. The purpose of blogging on the internet is to share ideas on topical issues like the Issuing of Bond Notes. The RBZ and Ministry of Finance officials should read these comments from the bloggers and listen. Its vital that govt makes consultation with the people b4 introducing important life changing policies. Its up to govt to find appropriate ways of getting a buy-in from the people b4 such policies are introduced. It is not necessary for people to form a queue to go and see Mangudya or Chinamasa to discuss the introduction of Bond Notes. Its up to govt to organise seminars,meetings and workshops to educate people on such important policies b4 they are implemented. If the govt chooses to impose their policies on citizens then such policies will be rejected by the people. Govt should learn to consult..consult b4 introducing new policies which affect lives of people.Zimbabweans had a torrid experience with money printed on bond paper in the past. People lost life savings,pensions and monetary assets in 2008 due to hyperinflation. Bond Notes are therefore very sensitive and need to be introduced with proper care and consultation and peoples buy-in is a must b4 implementation

Two Boy - 27 May 2016

Prophet W Magaya vakatumwa na mwari so if you don't belive it's not a problem time will come and it will be too late for you mbiri kuna jesu.....

Susan - 27 May 2016

Prophet W Magaya vakatumwa na mwari so if you don't belive it's not a problem time will come and it will be too late for you mbiri kuna jesu.....

Susan - 27 May 2016

Fambai ne shoko prophet nyamututa inyamututa kunyange ukaripa chakanaka rinongoda chakaipa. Prophet W Magaya may you leave long for the sake of Zimbabwe

Susan - 27 May 2016

It is always such a revelation of God's anointing when you hear the depth of Prophet Magaya's answers on topical issues far beyond his years. Thank God people like Dr Mangudya recognise this and are doing the right thing honoring our Prophet as he rightly deserves. Mbiri kuna Jesu!

Nes - 27 May 2016

Confused Magaya. Usanyepere vanhu iwe! Ndihwo hudofo manje uhwu. Dont mislead people. Wave kuchinja statement indava?

Magaya Makandiwa - 28 May 2016

This Magaya person has been promised a lot of money if he tells his congregants that there is a future in the bond notes. History is there to caution the wise.it very clear that this bond note business will take us back straight to 2008. The government has no money and needs money for elections hence why they are harvesting the US dollars the bond notes cannot work anywhere else but in Zimbabwe so what's gonna happen is that you will be buying USD at high prices because you will need them to biy stiff outside of Zimbabwe. Ko MiZimbabwe macho tineyi check. Nxaaa.Magaya should sit down an stop lying to people Hapana economics dzaakaita mudhara uyo let lone chikoro zvacho musangoti Papa zvese zvese mhani. Munosembura imi vanhu vekwa Magaya

Qwerty - 28 May 2016

Magaya should not mislead the public on Bond Notes becoz he knows nothing about them. Is this not the same man who misled the public on miracle money? Magaya should stick to his religious issues and leave economic and financial issues to the experts. Economics 101 tells us that the USD is not a Zimbabwean currency. It is an External or Foreign currency and therefore cannot be externalised. Thru trade, investments,tourism , remittances etc we earn the foreign exchange. Thru trade, disinvestment and other remittances the USD migrates. If the USD finds Zimbabwe unfriendly it migrates to welcoming environmenst. To put it simply capital follows opportunities and vice versa. Currently the Zimbabwe environment does not welcome capital, tourism etc so capital is taking flight from Zimbabwe. The movement of capital to and from Zimbabwe is ongoing and therefore the current cash crisis cannot be attributed to "externalisation" and neither will Bond Notes and forex allocations stop "externalisation" or cash shortage. The primary reason for introducing bond notes in not to stop "externalisation" or promote exports but to make money by printing (seignorage) and monopolise forex earnings thru a corrupt forex allocation system. The main problem causing cash shortage is supply and demand. Zimbabwe's forex earnings are $3 billion per year and the Zimbabwe total budget expenditures are around $5 billion leaving a deficit of $2billion per year. This deficit and govt wage bill are the causes of the cash shortage. The solution lies in cutting back total govt expenditures. Bond notes will not solve the cash shortage but will bring about unintended consequences which are highly inflationary.

Victor - 28 May 2016

Magaya should not mislead the public on Bond Notes becoz he knows nothing about them. Is this not the same man who misled the public on miracle money? Magaya should stick to his religious issues and leave economic and financial issues to the experts. Economics 101 tells us that the USD is not a Zimbabwean currency. It is an External or Foreign currency and therefore cannot be externalised. Thru trade, investments,tourism , remittances etc we earn the foreign exchange. Thru trade, disinvestment and other remittances the USD migrates. If the USD finds Zimbabwe unfriendly it migrates to welcoming environmenst. To put it simply capital follows opportunities and vice versa. Currently the Zimbabwe environment does not welcome capital, tourism etc so capital is taking flight from Zimbabwe. The movement of capital to and from Zimbabwe is ongoing and therefore the current cash crisis cannot be attributed to "externalisation" and neither will Bond Notes and forex allocations stop "externalisation" or cash shortage. The primary reason for introducing bond notes in not to stop "externalisation" or promote exports but to make money by printing (seignorage) and monopolise forex earnings thru a corrupt forex allocation system. The main problem causing cash shortage is supply and demand. Zimbabwe's forex earnings are $3 billion per year and the Zimbabwe total budget expenditures are around $5 billion leaving a deficit of $2billion per year. This deficit and govt wage bill are the causes of the cash shortage. The solution lies in cutting back total govt expenditures. Bond notes will not solve the cash shortage but will bring about unintended consequences which are highly inflationary.

Victor - 28 May 2016

I think we are loosing focus as Zimbabweans, we have tried everything within our midst and failed,So people of God lets turn back to GOD and let the annointed ones lead the way out of this mess we are in.All those who claim to be learned do us a favour"SHUT YOUR MOUTHS AND OFFER A PRAYER FOR SALVATION BEFORE ITS TOO LATE" --GOD is now in control,"MBIRI KUNA JESU"

wilson - 28 May 2016

Magaya leads a congregation. the congregants understands and believe their leader's language more than anything else. Now this group called magaya Congregants are an important constuence to the nation. they will convince also their kith and kin. Its true as the prophet said the issue was not communicated properly and coupled with speculation people wouldn't accept anything like that. izvi zvaisazikanwa pamweya izvi, zvaitoda gavhuna mbune like what the prophet did. if all church leaders could do so, we would have been left with some small pockets of resistance.

Iyavozve - 28 May 2016

People why are you persecuting Prophet Magaya? The Man of God is playing his part as a Prophet by giving advice to our Government and it is his right as a citizen of this country. Have you ever asked yourself why you were not called by the Governor to give your advice to the the nation? Simply because you are an unknown BRAND. Let me advise you, do not SPEAK against the Man of God like most of you are doing please let us work together as ONE people unity, unity, unity that's what we should strive for as Zimbabweans. UDUMO KUBANI? UDUMO KUJESU. VIVA JESU, VIVA JESU.

Nowa - 28 May 2016

r yu trying to bribe yourself out of your pending court case mr magaya

gilbert ndlovu - 28 May 2016

HE SAYS WHAT "god" wants to implement in the country is not what is the peoples' mind, since when has the governor or magaya become God

ME - 28 May 2016

the truth is the respected prophet is not speaking from God.he shd have told us what God is saying rather than expressing his opinions.A prophet shd always and truthfully speak the word from his mouth now i am beginning to wonder who really send him

changuchiii - 30 May 2016

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