Chippa United were early favourites to land the signature of the Zimbawean striker as they approached Ezenkosi over his services.
However, Polokwane City quickly swooped in with an offer of their own and Cosmos have since announced his departure.
The 25-year-old bagged an impressive 17 goals for Cosmos in the 2014/15 First Division campaign but failed to replicate his form during his two seasons at Highlands Park.
Mashumba left Highlands to join Algerian side ASM Algers in August last year, but quickly returned to South Africa after terminating his contract a few weeks later.
He will now be looking to compete for a spot up front with the likes of Rodney Ramagalela and Mohammed Anas at Rise and Shine, who currently occupy fourth spot on the standings.