What is Chippa Mpengesi’s net worth? Businesses, houses, cars

Nancy Marende

Chippa Mpengesi is the owner of the South African outfit Chippa United. The South African tycoon’s story is one of rags to riches, from a security guard earning R 700 to a multi-millionaire. His story is one of breathtaking ingenious and entrepreneurial skills.

Mpengesi is a businessman and the chief executive officer of Cape Town Chippa Investment Holdings Company.

Chippa Mpengesi’s net worth is estimated at $5 million. His businesses offer various services, including real estate, construction, education, mining, and manufacturing, which rack up millions in revenue.

Chippa’s business portfolio includes Chippa Training Academy, Chippa Protection Services, SQT Civils, and Chipcor Properties

Chippa Mpengesi’s Profile Summary

Full nameChippa Siviwe Mpengesi
NicknameChippa
GenderMale
Date of birth1976
Place of birthNqamakwe, South Africa
Current residenceVan Riebeeckshof, Durbanville
NationalitySouth African
EthnicityAfrican
ReligionChristian
SexualityStraight
Hair colorBlack
Relationship statusMarried
PartnerPhumeza Mpengensi
ChildrenZenande Mpengensi and Sandiso Mpengesi
ProfessionProfession: CEO, Businessman
Networth$ 5 million

Chippa Mpengesi’s net worth 

Chippa Siviwe Mpengensi
Chippa Siviwe Mpengensi . Image: Twitter/UsherKomugisha

Chippa Siviwe Mpengensi was born and raised in Nqamakwe, Eastern Cape Town, South Africa.

He was an avid football fan from a tender age and earned the nickname Chippafor being a prolific striker in front of goal. He would later head to Cape Town as a teenager and build a business empire.

Chippa Mpengesi’s net worth is estimated at $ 5 million, and his vast resources enabled him to buy Chippa United, formerly known as Mbekweni Cosmos, in a deal worth R400,000.

CHECK OUT:  10 best soccer apps for Android to follow European football

The football team reverted to officially using the name Chippa United in 2010–2011 following their acquisition by the Nqamakwe tycoon. It is now one of the richest football clubs in South Africa.

Chippa Mpengesi’s earnings

Chippa Mpengesi earned between R700 and R900 at his first job as a security guard. Following the launch of his security firm, he was awarded the contract to provide security for the 2009 Confederations Cup and 2010 World Cup editions.

South Africa was the first African country to host the global showpiece, and Chippa racked in R 13.9 million from the deal. Aside from his other business endeavours, the deal increased Chippa Mpengesi’s net worth in Rand to 94,219,500 million.

Career

Before earning the riches that he possesses today, Chippa’s early life was marred by poverty, and he resorted to moving to Cape Town aged 18 in 1996 in search of a better life. He landed his first job as a security guard and earned between R700 and 900 monthly.

However, with a wife, Phumeza Mpengensi, and a young family to fend for, the money was insufficient, and he quit his job.

Using his savings, Chippa used his entrepreneurial skills and opened his security firm. However, acquiring clientele wasn’t a walk in the park; but he got his first contract through grit and persuasion.

Pick n Pay, South Africa’s second-largest supermarket chain store, agreed to use Chippa’s expertise to recover stolen trolleys after long negotiations and convincing. The deal was worth R40K, or roughly £ 2,000 a month, and in the first month, he recovered over 800 trolleys for the retail chain. 

CHECK OUT:  10 best African players in FIFA 23

The success would earmark his fortunes, turning from rags to riches as he got a contract extension.

Chippa Mpengesi’s businesses range from real estate and manufacturing to sports and entertainment. He is currently the chief executive officer of investment holding company Chippa Holdings. Founded in 2015, the multi-faceted organization has a workforce of over 1000 people.

Endorsements

Chippa Mpengesi and Lebogang Maile  handing over a house.
Chippa Mpengesi and Lebogang Maile handing over a house. Image: Twitter/Action4SA

Chippa Holdings, through Chippa United, partnered with Meals on Wheels in 2018 to feed millions of vulnerable groups in the Eastern Cape regions.

A philanthropist, Chippa, has also used his Mpengesi Heights Initiative to build and gift houses to the vulnerable across the country.

Properties and cars

Chippa Mpengesi’s house is in Van Riebeeckshof, Durbanville, where he resides with his wife, Phumeza Mpengensi and child, Sandiso Mpengesi. He, however, lost another son, Zenande, in 2015 from drowning in a swimming accident. 

The businessman also plans to build a mall in his local town and brand it under his name. Chippa Mpengesi’s cars are high-end, an illustration of his wealthy status.

Have your say

Will Chippa United replicate the brilliance of its owner in the South African Premier Division this season? 

Related

1 thought on “What is Chippa Mpengesi’s net worth? Businesses, houses, cars”

  1. What a breathtaking biography. It make me strong in my weakness. It give me ties and it encourages me to be strong as an unemployed father of 3 boys. We are blessed to be still alive. I thank you Chippa!

    Reply

Leave a Comment