Speaking to Sowetan shortly after the case was postponed, Sibiya said he wanted to move on.
"I don't want this thing to go on trial and drag - it's better to pay them because I want to focus on my business and other things," he said.
Sporting a checked grey suit with maroon shoes, Sibiya appeared relaxed as he fiddled with his phone while he waited to be called to the dock.
He was seated on a bench behind Thathakahle.
The duo appeared to be avoiding any contact with each other until they were called to stand alongside each other before the magistrate.
"What happened is a matter between my company and Edcon.
"I gave Ukhozi a proposal to do a Legends Gala Dinner and then Edcon gave us money to do this," Sibiya insisted.
He said he was given the money for a tour that did take place and R600000 for the gala dinner, which did not happen.
"We ended up going to Eshowe to a church where we went and installed tiles, bought food parcels, bought school shoes for 11 learners, bought soccer team kits with the same money from Edcon . Edcon management then said they wanted their money back."
SABC spokesman Kaizer Kganyago said if Sibiya felt aggrieved, he should take the matter up with the Commission for Conciliation, Mediation and Arbitration or the Labour Court.
"If he does that we will be able to then go and put our side of the story there."