DJ Maphorisa’s Meltdown: Struggling to Repay R20 Million Debt to Sony Music
Renowned South African music producer DJ Maphorisa, whose real name is Themba Sekowe, is currently embroiled in a significant financial dilemma involving a debt owed to Sony Music.
Sources familiar with the situation reveal that DJ Maphorisa had borrowed R20 million from the record label but is now encountering difficulties in meeting his repayment obligations.
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Struggles with Repayment
According to insiders who spoke to Zimoja, DJ Maphorisa initially took the loan as an advance from Sony Music, confident that his earnings would cover the repayment.
However, unforeseen challenges have arisen, leaving him unable to fulfil his financial commitments.
“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,” explained one source.
Financial Stress and Pressure
The situation has reportedly caused significant stress for DJ Maphorisa, who is now said to be working tirelessly to generate additional income.
Sources indicate that he has been pushing fellow artists to increase their performances, hoping to boost his earnings and meet his debt obligations.
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,” stated another source.
Implications and Career Impact
Despite efforts to mitigate the financial strain, DJ Maphorisa’s predicament remains challenging.
He faces mounting pressure to settle the debt promptly, as the consequences of defaulting could jeopardize his career prospects in the music industry.