Mgaga is among several players including Evidence Makgopa, Vusi Sibiya, and Elvis Chipezeze who are set to leave Bakgaka at the end of the season following their automatic relegation to the GladAfrica Championship.
Sibiya continues to be linked with Stellenbosch FC while Makgopa is touted to complete a move to Orlando Pirates next season.
Besides Amakhosi, AmaZulu and Stellenbosch FC are all believed to be keen to secure the signature of Mgaga.
The three interest clubs are set to initiate discussions with Baroka for the services of the 26-year-old midfielder.
"It is no secret that AmaZulu and Stellenbosch are both interested," a source close to the club reveals to KickOff.
"While Kaizer Chiefs have also shown interest.
"Baroka are willing to sell many first-team players and Mgaga is among those that will be sold to the highest bidder."
Baroka finished the 2021/2022 DStv Premiership season rock-bottom in a disappointing 16th position.
With Swallows FC set to compete in the Promotion Playoffs after finishing in 15th position.