Khenyeza on Wednesday resigned as an assistant coach at Maritzburg United in the wake of Eric Tinkler replacing Muhsin Ertugral at the relegation-threatened team.
The 36-year-old Khenyeza still had six months left on his playing contract with Usuthu when he retired to link up with Maritzburg in the new year.
When quizzed on suggestions that Khenyeza could go back to AmaZulu and possibly assume a backroom role under coach Cavin Johnson, Mkhathini said: "I can't confirm or deny about Khenyeza returning to the club. Anything can happen."
He added: "Nothing has been said to us as a club. We just came back from a good win in Pretoria."
AmaZulu yesterday sold striker Emiliano Tade to Mamelodi Sundowns as part of a deal, which made Bongi Ntuli's loan move in Durban permanent.
Usuthu are also bringing in winger Talent Chawapiwa from Baroka while they want to keep defender Thembela Sikhakhane at the club on a permanent basis once his loan spell from Orlando Pirates expires at the end of the season.