Durban-Ayanda Shezi pleaded guilty to the murder of Kidesh Ramjettan in the Durban Regional Court on Thursday.
Shezi revealed before the court how he had three others planned and carried out a hit on Ramjettan in August 2018.
Shezi said the mastermind behind the killing told him that Ramjettan was involved in illegal business activities.
Shezi had his own taxi cab services in Gauteng.
Ramjettan was shot dead outside his Rossburgh business in August. He was standing in the parking lot of his Glazer Motors petrol station in Clairwood when a gunman walked up to him and shot him in the head. He died at the scene.
State prosecutor Surekha Marimuthu told the court that the state recommended a minimum sentence of life imprisonment.
He is expected to be sentenced on Friday.
His brother, Anesh Balraj, said this brought some closure to the family who is still overcome with grief.