The former Orlando Pirates player asked the the Siwelele management to be released when the club reopened after the festive break.
"Yes, it's like that, he has been released. He is no longer a Celtic player," Konco told KickOff.com.
Masuku, who joined Celtic in July 2016 from Royal Eagles, sounded relieved when this website broke the news to him.
"Is that so? Oh, it means he [Konco] is still going to give me my stuff [clearance]. I haven't been told yet. With me anything is okay, if it's like that it's fine," he said.
The 32-year-old only played once in the league this season under new coach Veselin Jelusic, and with age not on his side he felt it was time to move on. The last time Masuku tasted some action in Siwelele colours was in October 2017 in the Macufe Cup against Kaizer Chiefs where he was booked for showboating.
"I'm not sure which team I will be joining, I will see. Anything that comes because I can play under any coach. My stay at Celtic was alright, we had a wonderful relationship. I enjoyed my stay at Celtic even though I didn't enjoy much game-time but everything was okay. I had good brothers there, because even when this happened we sat down with them and we spoke. I'm not surprised they understood my situation.
"It's not worth it to stay in a team and not play. This season I had only a few games."
Phunya Sele Sele on Wednesday announced the sale of fellow attacker Kabelo Mahlasela to Kaizer Chiefs and the loan signing of defender Lorenzo Gordinho.