AKA's Beam Group company collapsed over Maserati purchase

AKA's Beam Group company collapsed over Maserati purchase

Nov 21, 2018, 06:02 AM

AKA's Beam Group company collapsed over Maserati purchase

Management is one of the most important aspects of ensuring that an artist succeeds in the entertainment industry.

South African hip hop artist, AKA recently faced a blow when his company Beam Group shut down recently. According to reports, AKA's close business partner, Prince Ngwenya had mismanaged the company's funds without the rapper's knowledge.

Sunday World reported that Prince had allegedly bought himself a snazzy Maserati using the company's money. In the report, it was also mentioned that former employees haven't been paid their full salaries.

The Fela in Versace hitmaker told the publication that he got wind of the information that some of his former employees haven't been paid. He explained: ''I have stated in numerous internal company correspondences that as a 70% stakeholder, I take ownership of whatever debt might have been incurred up to my percentage share." 

The father of one added: ''But what I will not do is to incur debt on personal expenses of any other share partner(s) that were incurred not for company purposes." 

In October, the rapper took to Twitter to reveal that he was no longer part of the company. 

"We started the company with the best of intentions unfortunately it’s just not working out for me the way I wanted it to ... so I’m taking my ball and going to play elsewhere," he wrote. The Beam Group was a token of hope for some artists looking in from the outside. Sadly, there were malicious acts at play internally. 

Main Image Credit: Instagram/@akaworldwide

Written by

ZAlebs Team

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