Mzansi’s cultural commentator and music industry insider Nota Baloyi has opened up about the operations at Kwesta’s Record label, RapLyf!
READ – Nota Baloyi says katlego Maboe cheated with married sferbs!
Nota Baloyi claims that RapLyf has collapsed and he left when he saw the books that they were making more than R40-million but nothing to show for it.
He also alleges that RapLyf is drowning in debt of more than R800 000.
He made all these allegations during The Sobering Podcast S05E04 Feat Nota, which premiered on Wednesday.
“I was supposed to depart from the 1st of April last year (2020) but I ended up departing on the 17th of March last year – it was earlier.
READ – Nasty C sends Kwesta’s manager Nota Baloyi a wheelchair!
Nota Baloyi continued to say that they went through the financial records of RapLyf and everything else.
“…and like the whole entire thing is like damn it. You know we’ve made 40 something million rands and got nothing to show for it. We’re in 800 and something thousands running in debt. 40 million rands in turn over disappeared into nothing,” alleges Nota Baloyi.
He says that artists at RapLyf were being paid their salaries from overdrafts and when the COVID-19 hit South Africa there were no more gigs.
Nota Baloyi says that none of the money from RapLyf he had access to or control of because he was not the owner of RapLyf.
Nota Baloyi alleges that RapLyf owners Kwesta and Kid X promised them that they will split up equity.
“…You know what I mean, even though from inside we were promised that we’re going to split up the equity. All of the equity was Leroy Khoza’s because it is his company,” alleges Nota Baloyi.
READ – Cassper Nyovest Good For That goes platinum!
Kid X got into business with popular rapper Kwesta and formed a label called RapLyf Records. The company has been labeled as a collapsed entity now.
MGOSI.co.za