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Jabulani-Ngcobo

Jabulani Ngcobo South African Young Millionaire

Durban’s youngest “millionaire” Jabulani Ngcobo has no qualms about being investigated by the police and the SA Reserve Bank – and he has branded his critics racists and vowed to splurge more millions to promote his business.

The Police Commercial Crimes Unit and the Reserve Bank confirmed this week that they had begun investigations into Ngcobo’s wealth.

“We have a police inquiry against him, but it’s not a case docket yet,” said an SAPS Commercial Crimes Unit officer who asked not to be named.
“At this stage, we know he has investment companies. We need to investigate their legitimacy; it’s all embryonic at the moment.”

Ngcobo, 26, made headlines after throwing a R1 million birthday party two weeks ago, where 250 guests enjoyed champagne, caviar, sushi and a spit braai at an upmarket local hotel.

Yesterday, dressed in Roberto Cavalli shoes, Billionaire jeans, a Mondo jacket, Louis Vuitton sunglasses and a matching satchel, Ngcobo said his dream was to become Durban’s youngest dollar millionaire.

“I want to be on the Forbes list. I want to be the biggest donor. I believe in helping others, but I want to be able to donate a million rand or two to those who are needy. I want to make a difference.”

Ngcobo denied that his firm was a pyramid scheme, and said authorities were welcome to probe his operations and business interests.

Ngcobo questioned the scrutiny that has followed him over the past two weeks and said: “If a white man had thrown a party like mine, people would have been saying, ‘Oh, he comes from a good family, he’s living large’, but because it’s me, people are complaining. I’m here to make money, whether people like it or not.

“There are two kinds of education in this world; there is academic education, which is guaranteed that you will always work for someone else for the rest of your life, and there is financial education, which guarantees you financial freedom. That’s what most people don’t understand.

“Some people study for seven years, only to earn R30 000 or R40 000 a month, with no luxury in their lives. That’s not for me.”

Ngcobo, who has only a matric, once worked for Toyota “carrying car doors”, before starting a debt collection company in 2006. He says he later branched into the stock market investment field and started Cash Flow Pro in 2009.

Ngcobo, a father of two, said that since his birthday party, he had received overtures from women declaring their undying love for him.

“But I ignore them, I’m covered in that department.”

He denied leaping out of a giant birthday cake was a publicity gimmick similar to Kenny Kunene’s eating sushi off the bodies of semi-naked women.

“Kenny can’t be my mentor; we’re not in the same fields,” said Ngcobo.

Rumours

Ngcobo cruises Durban streets in his white BMW M3 and in his birthplace, KwaDabeka, near New Germany, locals call him Cash Flow.

“Cash must flow in abundance… I’m comfortable with my car. I can change it tomorrow and buy a Ferrari, but what for?” he said.

He also laughed off reports that he owned a R2.5m house in New Germany.

“I’m actually insulted by that. Why would I live in a R2.5m house when I work so hard? My clients must live in those kinds of houses. I will be building a house in Zimbali or in Umhlanga, a real house that I will be proud of.”

Ngcobo believes his business rivals were plotting his downfall by spreading rumours about him.

“I’m waiting for anyone who wants to investigate. I’m here to stay. I know our concept, I know our vision. The truth will come out whether this is a pyramid scheme or a core concept.

“I’d really have to be stupid to work so hard and start a company, only to start collecting people’s money and start a pyramid scheme.

“I have so many references where people have done that and got arrested, why would I expose myself by throwing a R1m party and call the media? If I had something to hide, I wouldn’t have had a birthday like mine.”

Ngcobo said his expensive party was money well spent – and he’d do it again.

“I always advertise on national radio – but never got this much exposure. What is a million? I’ve gained valuable business partners through that event. I have no regrets. I would do it again…”

The star-studded party was not the last of his marketing strategies. “I have a few others, but I can’t disclose them. Yes, they will cost money. You must spend money to make money.”

He said Cash Flow Pro had more than 1 500 members and operated by training people on how to trade on the stock market.

“People have the option to link their accounts to ours. The client must open his own account, fund it, and then go to Sars to declare, because we trade offshore, and then get a tax clearance for foreign investment.

“After getting it, he goes to his bank and transfers money from his account to an overseas account in the name of market.com. At no point do they put their money in Cash Flow Pro.

“After linking the account to ours, the client then signs power of attorney, authorising Cash Flow Pro that whenever the client trades, the commission they get is concurrent.

“We act on behalf of clients, with their authority. We never touch their funds, I don’t have access to clients’ accounts.”

Ngcobo said that as far as he was aware, his company did not need to be licensed by the SA Institute of Stockbrokers, as it did not deal directly with people’s money.

However, if investigators were to find anything wrong with his compliance, it would not be deliberate.

“What I know is that I’m not running a pyramid scheme. I’m not saying I’m perfect, but as far as I know I’m straight… if I showed the authorities how we work, I have no doubt they will see nothing wrong.”

Durban millionaire Jabulani Ngcobo celebrated his 26th birthday at the weekend with a party that cost a cool R1m and was attended by some of the country’s most popular celebrites, including Generations stars Winnie “Khethiwe” Modise and Sophie “Queen” Ndaba.

The party was the latest in the rags-to-riches story of Ngcobo, who celebrated his birthday in style at a five-star hotel.

The party continued at his posh New Germany home well into the early hours of Sunday morning.

Guests enjoyed expensive delicacies like caviar, oysters and, the current favourite with South Africa’s wealthy, sushi.

Entertainers included DJ Bongz, Sox, Mzokoloko and King Sifiso and performer L’vovo Derrango.

Other guests included the who’s who of showbiz – bling queen Khanyi Mbau and former Generations star Dumisani Mbebe were on the guest list.

Sizwe Dhlomo, who is presenter of the Live television show, and Isidingo stars Sisa Hewana and Leslie Fong were also present.

The son of a poor family from Greytown, and a former fast food outlet and shop assistant, Ngcobo showed just how far he has come.

Ngcobo made his millions through his stock market trading company, Cash Flow Properties, which teaches people how to trade on the stock market.

Generations stars Winnie Modise and Dumisani Mbebe are ambassadors for the company, which was established in 2009.

“I spent R1m on my party because I want everything I do to be top class,” he said.

He matriculated in 2003 at Langa High school in Clermont and has no formal training in stock trading.

Ngcobo loves cars and drives a BMW M3. He also owns a Hummer, two Mercedes-Benzes, and a BMW M6, which he said belonged to his company.

His company’s website claims that people can make a 10-30% return on their investments “daily and compounding”.

Ngcobo said he would not identify the college where he got his tuition because he “would be promoting it” by naming it.

Ex-Generations star Dumisani Mbebe confirmed he was an ambassador of Cash Flow Properties.

He said his role was to be “the face of the company”. He declined to say how much he was paid as ambassador. Cash Flow Properties’ second ambassador, Winnie Modise, could not be reached for comment.

http://www.iol.co.za/sundayindependent/i-m-clean-says-durban-s-new-bling-king-1.1082727

Jabulani Ngcobo ‘s Milliona Dollar Birthday Party

Durban millionaire Jabulani Ngcobo celebrated his 26th birthday at the weekend with a party that cost a cool R1m and was attended by some of the country’s most popular celebrites, including Generations stars Winnie “Khethiwe” Modise and Sophie “Queen” Ndaba.

The party was the latest in the rags-to-riches story of Ngcobo, who celebrated his birthday in style at a five-star hotel.
The party continued at his posh New Germany home well into the early hours of Sunday morning.

Million Dollar Mansion in New Germany South Africa

Guests enjoyed expensive delicacies like caviar, oysters and, the current favourite with South Africa’s wealthy, sushi.

Jabulani Ngcobo MTV CRIBS Jabulani Ngcobo Millionaire Mansion House on VUZU TV on Top Shayela

Entertainers included DJ Bongz, Sox, Mzokoloko and King Sifiso and performer L’vovo Derrango.
Other guests included the who’s who of showbiz – bling queen Khanyi Mbau and former Generations star Dumisani Mbebe were on the guest list.
Sizwe Dhlomo, who is presenter of the Live television show, and Isidingo stars Sisa Hewana and Leslie Fong were also present.
The son of a poor family from Greytown, and a former fast food outlet and shop assistant, Ngcobo showed just how far he has come.
Ngcobo made his millions through his stock market trading company, Cash Flow Properties, which teaches people how to trade on the stock market.
Generations stars Winnie Modise and Dumisani Mbebe are ambassadors for the company, which was established in 2009.
“I spent R1m on my party because I want everything I do to be top class,” he said.
He matriculated in 2003 at Langa High school in Clermont and has no formal training in stock trading.
Ngcobo loves cars and drives a BMW M3. He also owns a Hummer, two Mercedes-Benzes, and a BMW M6, which he said belonged to his company.
His company’s website claims that people can make a 10-30% return on their investments “daily and compounding”.
Ngcobo said he would not identify the college where he got his tuition because he “would be promoting it” by naming it.
Ex-Generations star Dumisani Mbebe confirmed he was an ambassador of Cash Flow Properties.
He said his role was to be “the face of the company”. He declined to say how much he was paid as ambassador. Cash Flow Properties’ second ambassador, Winnie Modise, could not be reached for comment.

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19 Comments on "Jabulani Ngcobo South African Young Millionaire"

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Anonymous
Guest

who blady cares!!!???

Anonymous
Guest

bro you will always have haters, but as young as i am, im inspired by this story its a confirmation 2 me that by studying enterpreneurship i wont be making a mistake- thabiso

Anonymous
Guest

So what?.young with a dream, that good enough 4 me.everyone who doesn't like it, fuck urself…

Anonymous
Guest

one day i wannna be a millionaire just give me five years from now and am on the list watch the space ……GOD BLESS SA MILLIONAIRES

Anonymous
Guest

criminal! Not his assets. Scam artist Deluxe. Shocking

Anonymous
Guest

You are my ispriration Jabs, keep it up.
It is God's will for you to live in abundance, so that young boys and girls can look up to you.

Anonymous
Guest

fucking racist this guy.

Anonymous
Guest

bafoetho, i am running an insurance company within legal south africa's parametre & i am regulated by FSB,unweritten a 3rd party and Admisnistered by a 3rd party – my customers make their premium payments @ Pick n pay,woolworths, shoprite, checkers, etc. i have a 100 customers, and the objective is to grow them to tens of thousands – i am looking for a fiancial partner to maximise marketing – i have a plan – cud u be the partner

Anonymous
Guest

Yhooo! M so inspired my brother…

Anonymous
Guest

Broe u inspired me keep it up good for u u already living ur dream am also a dreamer for beter life like iwant to be a billionare keep it up

Anonymous
Guest

My father constantly tells me about an article he read when he was a teenager, it read that the biggest money spinners of the world have not seen the door of a university. It is through talent and clear vision that dreams are realised. I am a varsity student, but I have realised that I don't want to be an employee, I'm a builder. I am a businesswoman now who owns a magazine, and I am hoping to make big waves. Inspired by this story

Anonymous
Guest

I'm proud of u man#Dreamchaser

Anonymous
Guest

God bless South Africa! Mr Ngcobo u da man!!! Ts spread the wealth! I'm next…

Anonymous
Guest

Very smart of u chief(wat u said about the 2 types of education). I can see that ur following the footsteps of Warren Buffet(#1 Richets guy in the US)To bigginers: try affiliate marketing nd make some real cash.

Anonymous
Guest

You go Chief! Thats a very big achievement for someone at your age to be a Millionaire.You are living ur Dream.Let the Police do their dirty search,they will find nothing and they are just taking a big chance because u r BLACK!Had it been this Party was organised by a white guy there could not have said all this rubbish.

Anonymous
Guest

A true inspiration, way to go Jabz…

Tbotouch from Durbs!
Guest

Damn….I get goose bumps when I read about this my young brother,you are trully a living example of success,Damn…I wish I had your brains,but its never too late I guess,,,can I invest in your company and start to get that cash flowing into my bank account?

Anonymous
Guest

GIVE JABU A BELLS……….WOW AM SURE UR PARENTS ARE VERY PROUD OF U WHEREVER THEY ARE. WHT I LOVED MOST ABT DIS STORY WAS SEEING UR SIBLINGS HOME VERY BIG N BEAUTIFUL. KEEP ON DOIN UR THNG MAN U DESERVE IT LOOKING BACK WHERE U COMING FRM….HATERS MUST GO HANG THEMSELVES

Anonymous
Guest

wa bora

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