The 35-year-old won multiple South African awards, was nominated several times for a Black Entertainment Television (BET) Award in the United States and was once nominated for an MTV Europe Music Award.
"It is with extreme sadness that we acknowledge the passing of our beloved son," his parents Tony and Lynn Forbes said in a statement posted on AKA's Twitter account.
"Our son was loved, and he gave love in return."
Forbes was gunned down on Friday night alongside another man while they were walking towards their car from a restaurant, along one of Durban's most popular roads.
"They were allegedly approached by two armed suspects who walked to them from across the street and shot the victims at close range," police said in a statement.
He was booked to perform at a club Friday night, according to Durban city mayor Mxolisi Kaunda.
Some six hours before his murder, AKA had tweeted about his upcoming album 'Mass Country' which was due to be released later this month.
"I’ll be doing video calls, chats, exclusive snippets and all things great as we move towards the 24th of Feb. Chat soon!!!" he wrote on Twitter on Friday afternoon.
The motive of the shooting is unknown, and police are investigating.
Beauty Dlulane, who heads a parliamentary committee on arts and culture, condemned AKA's murder, describing it as a "hit."
She called on authorities "to protect South Africans from this new scourge of what seems to be contract and revenge killings where performing artists and DJs seem to be targeted."