DJ Maphorisa Drowning in R20 million Debt
Themba Sekowe took a loan from Sony Music record label
DJ Maphorisa Drowning in R20 million Debt
His music permeates the dance floors of every club in Mzansi and he flaunts his designer outfits on social media but Amapiano superstar, Maphorisa, is apparently R20 million in the red with record label Sony Music and is struggling to pay up.
According to sources privy to the situation, the star took a loan of R20 million from the giant record label and now is falling back on payments.
“He took an advance from the company, because he was sure that he was going to be able to pay it back, but now he's struggling to pay it back, because of course he has to pay the interest back,” a source said.
The star whose real name is Themba Sekowe, is according to second informant scrambling to come up with the money, and is having sleepless nights trying to make up the money.
DJ Maphorisa Drowning in R20 million Debt
Asserted the source: “He's stressed, because he has to pay them back, he fell into the trap that most artists fall into and take advances from record labels forgetting that they'll want it back with interest.”
Maphorisa is apparently so desperate to pay the money back so much so that he's putting pressure on artists he feels he's made to gig more so that he can pay up.
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“Other artists are bearing the brunt of his debt, because he needs to pay up or else he stands to big time, because the debt is old now and he promised to pay it up,” another informant revealed.
