After more than a decade of being business partners, TS records label owners Sbusiso ‘Sbu’ Leope and Thembinkosi ‘TK’ Nciza have pulled the plug on their business relationship.
Consequently, TK has resigned from his role as director at Mofaya and is no longer a part of TS records.
Putting the record straight, Sbu told Sunday World that things turned out this way because they had other things that needed their attention. He stressed that there’s no beef here.
“I can confirm that I have not been active in TS Records business affairs for a while, but it was not because TK and I fought. We are still OK as brothers. It’s just that he wanted to concentrate on his political career and grow his other business ventures, and I also wanted to concentrate on growing Mofaya,” Dj Sbu explained.
Apparently, their business ideas have grown apart to the point that they had to go their separate ways.
According to the publication, the South African Companies and Intellectual Property Commission has deregistered the record label. This follows the label’s failure to submit their annual returns for more than five years.
Nevertheless, Sbu denied that the company was deregistered because they did not pay taxes. Instead, he said he and his business partner went their separate ways to focus on their individual business ventures.
Notably, TK is currently the ANC treasurer-general in Ekurhuleni and that leaves him with little or no time to scout for new artists in the industry. Likewise, Sbu is also busy with his other business ventures.
Sbu and TK have been partners for 15 years. However, their business (TS Records) hit the rocks about five years ago when it experienced a mass exodus. At the time, a lot of their big artists including TK’s wife, Mafikizolo’s Nhlanhla and Zahara cut ties with the label. The artists either left to pursue other projects or to start their own label.