One should have an interesting story behind a nickname like “Cash Flow.” The name belongs to a Durban businessman known to be one of the youngest millionaires in the South Africa – Jabulani Ngcobo.
So who is Jabulani Cash Flow Ngcobo?
Born in 1985 in KwaDabeka in KwaZulu-Natal, Cash Flow Ngcobo was born into a poor family from Greytown, to a polygamous father.
The former fast food outlet shop assistant matriculated in 2003 at Langa High School in Clermont. He then went on to start a debt collection company in 2003. Following this, he founded Cash Flow Properties, a company that teaches people how to trade on the stock market.
He was recently found not guilty of any fraud, theft and money laundering charges, after an investigation was initiated by the South African Reserve Bank. He is now planning to sue the state for damages suffered by him and his business, Cash Flow Pro.
“We are not running a pyramid scheme. Our company trains people how to trade on the stock exchange,” he said.
He grew up in a one-bedroom house and used to go to school in shoes with holes – which he says inspired him to work hard to be financially free.
“I started this company because I wanted to be financially free. As black people we are still not financially free,” says Ngcobo.
Why Cash Flow?
Owing to his flashy and lavish lifestyle, Jabulani Ngcobo has been nicknamed “Cash Flow” by Durbanites. With his numerous cars worth over R3 million and his R1 million 26th birthday party, Cash Flow Ngcobo has established a name for himself.
Despite rumours of going broke in recent years, the businessman, who has kept a low-profile since the investigation is still keeping the cash flowing.
