Djo BaNkuna wrote on Facebook:
"Sbu Owes Nobody: Contracts and Obligations
Somewhere in 1999, I was offered a contract by BULA Music. Myself and my brother, Naphy Mathye, walked into their Auckland Park boardroom to meet Harvey Roberts, Peter Tladi and Clive Hardwick. The view from their 17th floor was breathtaking and the coffee was exceptional. I was offered 7% after costs for three albums/three years. I threw it in the rubbish bin and refocused my energies on academia. My contract was given to Lundi Tyamara and he signed the deal with BULA Music. Lundi became famous and he died very poor.
Sibusiso Leope owes Zahara nothing. It would have taken BULA Music +-R1.2m to make me a music star in 1999. All upfront. Studio bookings, engineers, song writers, tour staff, branding, adverts, clothes, loan cars, etc. Harvey Roberts offered me an upfront signing fee (loan) to persuade me to sign. My lawyer broke down the terms of my slavery and we estimated that I would make at least R80 000/album if I had moderate success. Before a single CD was sold, I would owe BULA Music +-R1 million. Hence, BULA and Gallo had to be paid first to recoup their unguaranteed investment on me. I had a choice: To be famous and poor or to continue with Wits University. I thanked my lawyers and I chose the books.
For Zahara's debut album (Loliwe) to fly high, TS Records bled money and sweat. Good music does not sell, it is the record label that sells. There are billions of flopped great songs out there, all fail because they lack the muscle of a proper label. TS Records invested millions upfront on a gamble. An unknown artist from nowhere. Recording, airplay, marketing, gig bookings, branding, upfront artist fees, etc were all paid in advance. And in all instances, the house collects its dues first. It is in the contract that you sign.
So, don't sign a contract with PnP and when you see the company racking in billions, you complain. Even if PnP makes R17 billions annual profits, they will still pay you R4700 as per the contract. It is worse with a music artist from nowhere. The record label must spend huge amounts of money to polish the artist, record them, feed/clothes them, manage them, advertise them, etc. All in advance. Nobody cries with the record label when an album flops and the investment is lost. TS records took the risk and she signed the contract. Zahara chose to be famous and poor. I refused.
Sbu and TK owes nobody nothing.
Le Cabbage Bandit"
T-Bo Touch: You are always dressed in Black. What is it?
MALEMA: It is the easiest way to dress upβ¦Even if you repeat, they donβt notice.
#CIConMetroFM
African Bank is profitable again.
In the six months to end-March, it made a profit after tax of R257 million, from a loss of R135 million a year before.
Retail customer deposits up to R11 billion, from R8.6bn, and its approving more loans.
Entrepreneurship is the art of never knowing for sure and having the courage to decide anyway. It is the art of constantly being in new situations and trusting yourself that you will work it out, even though you are crapping yourself.
Hi! ππ½ Iβm a private chef, food stylist, and cooking class host. β₯οΈ To book me for private and corporate events, get in touch: [email protected].