With former AmaZulu coach Benni McCarthy still jobless, speculation remains strong that he could join Kaizer Chiefs or Orlando Pirates.
Results under Zwane and Sheppard have improved of late, but overall they have not been great, and neither of the two men - both still relatively young - has much experience as a head coach.
Perhaps a stint at a lower league club or a smaller team in the PSL could help them prepare better for the Chiefs job in the future.
But at a time in Amakhosi's history when the club is struggling to recapture the glory years, a bigger personality with more experience is surely needed.
And as Zwane said himself, it would make sense to go for a South African-born coach rather than a foreigner.
“We have to empower our own people. Look, our coaches understand where these players come from," Zwane was quoted saying recently by Farpost.
“We are dealing with a lot of sensitive issues in this country, and a lot of people take those things for granted. And I can tell you, we have so many challenges as a nation let alone life in general."
McCarthy would certainly tick a lot of boxes.
He did however end his playing career with Orlando Pirates and therefore has an allegiance to the Buccaneers.
There has been ongoing speculation, at least from the fans, that he may replace co-coaches Fadlu Davids and Mandla Ncikazi.
Davids and Ncikazi have been operating on an interim basis since previous coach Josef Zinnbauer departed two games into the season.
At one point of the campaign, with Bucs struggling for consistency in the league and getting knocked out early of the Nedbank Cup, the coaching duo seemed to be in a perilous position.
Now though, they are closing in on cup silverware in terms of the Caf Confederation Cup. Even if Pirates don't win the competition, but make the final, could the coaches then be sacked after that? It would seem a bit harsh.
There does remain the possibility of ex-Bafana Bafana striker McCarthy working together with Davids and Ncikazi, should they be willing to.
Chiefs though potentially have the inside lane on McCarthy as they've had several weeks now, since Baxter left, to start making contact with new coaches.
Over at Pirates, uncertainty remains as to whether Bucs are even in the market for a new coach, or if they're satisfied with the current men in charge. That could play into Chiefs' hands if indeed they are eyeing Benni.
