The 49-year-old is undergoing further tests, according to South African Masters and Legends Football Association official Alfred 'Dance' Malete.
"He is doing well," Malete tells KickOff.com.
"They are still busy with him. We will hear when time goes on how far [along they are]. He is in Klerksdorp."
Malete dismissed reports that indicated the former Mamelodi Sundowns striker is struggling to pay for his medical expenses and could be moved to another facility.
"No, you know people just comment, everything is being taken care of. The people who are surrounding him are the ones who are making sure he is right. Ja, the family, the legends, everybody in general.
"As for the other hospitals that he will go to, it is through other tests. It's not like they are shifting him or whatever. They haven't disclosed anything at the moment [regarding Masinga's illness]. No, but he is right. It's something that started in the past weeks."
Masinga, who scored 18 goals in 58 appearances for Bafana, helped the national side win the African Nations Cup on home soil in 1996, while he also played in the English Premier League and Italian Serie A during his heyday.