Ambitiouz

Ambitiouz Entertainment boss Kgosi Mahumapelo. Image via Instagram @ambitiouzvillageboy

Ambitiouz boss responds to claims company is shutting down

Kgosi Mahumapelo has addressed reports his record label, Ambitiouz Entertainment, is closing its doors due to financial issues.

Ambitiouz

Ambitiouz Entertainment boss Kgosi Mahumapelo. Image via Instagram @ambitiouzvillageboy

Kgosi Mahumapelo, who is the CEO and founder of controversial music label Ambitiouz Entertainment, says haters are going to wait a bit longer for their downfall.

The businessman told TshisaLIVE on Wednesday, 6 September, that reports about the record label’s closure are not true.

ALSO READ: Why Ambitiouz ‘removed’ Zinhle’s song from streaming platforms

AMBITIOUZ REPORTEDLY FACING FINANCIAL WOES

This came after Zimoja reported last week that Ambitiouz had allegedly closed shop due to financial issues.

A source told the publication that several staff members had not been paid and others had dragged the record label to the Commission for Concilation Mitigation and Arbitration (CCMA) for unfair dismissal.

ALSO READ: ‘Some are owed 5 months’ salaries’: Ambitiouz in ‘financial trouble’

Another source alleged that Mahumapelo is also currently resolving a matter with the lawyers after he feportedly sold a car to one of his former employees fraudently, which was later repossessed because he did not own the car outright to sell it.

ALSO READ: ‘We’re going to court’: Another disgruntled artist drops Ambitiouz

KGOSI MAHUMAPELO RESPONDS

While Mahumapelo did not want to addresses allegations as about disgruntled employees and fraudulent dealings, he denounced rumours Ambitiouz is ceasing operations.

“We are not shutting down. We are growing and are poised to revolutionise the industry with an announcement,” Mahumapelo said.

ALSO READ: Ambitiouz hits back after losing court battle against Blaq Diamond

Ambitiouz further told the publication that fans should brace themselves for a huge announcement on Friday, 8 September.

“We regret to inform you that you might need to stock up on more popcorn because Ambitiouz Entertainment isn’t going anywhere. We’re just getting started.

“It’s come to our attention that there are whispers and rumours of our imminent closure. To those who’ve been spreading these tales, we’d like to offer a heartfelt ‘nice try’. We’re saddened to report that if you were hoping for our exit, you’ll have to deal with our fabulousness for at least another decade.”

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