Reports surfaced last month that a deal with Le Coq Sportif has been agreed and was due to be launched at Bafana Bafana's first Africa Cup of Nations qualifier against Ghana in June.
However, that has now been postponed due to the coronavirus outbreak and SAFA have been unable to keep the deal a secret.
Mokoena confirms a new technical sponsorship deal is in place but refuses to confirm that it is with Le Coq Sportif.
"[Laughing] No, nothing has happened yet," Mokoena tells snl24.com/kickoff.
"But we'll do the launch. Hey, you guys are naughty man [laughs]. What I can tell you is that we have signed and it's a new deal, and it's not with Nike.
"Err... Le Coq Sportif... I know the people at the time said we have spoken to them, but we will announce our new sponsor at the right time."
Mokoena says the ongoing search for a new technical sponsor was the main reason both Banyana Banyana and Bafana Bafana have been wearing the same design since 2016.
"We were still looking for a new sponsor, which we have found now. We had offers, but they were not very attractive. So we had to look far and wide, if I may put it like that, and we got a much better offer," he explains.
"It didn't fall apart [the Nike deal], the contract came to an end. In total we spoke to about five technical sponsors. It's Kappa I can say was not there."