The goal came midway through the second-half through a Nathan Paulse penalty after he had been brought down by Chiefs centre back, Eric Mathoho.
The Urban Warriors started the first-half in fine fashion after Cecil Lolo’s pin-point ball deliveries put Amakhosi on the back foot immediately.
Lolo created the first real threat in the eighth minute as he crossed the ball towards Paulse but the veteran’s header sailed over the crossbar.
It was Lolo once again in the 23rd minute, this time from a set-piece as his delivery was connected by Mosa Lebusa into the back of the net but the offside flag was raised.
Minutes later, Lolo was in the thick of things again crossing the ball from a free-kick towards Paulse, who opted to volley the ball but his effort hit the crossbar.
Abbubaker Mobara was next to threaten Chiefs defence following a cross from Lolo but the defender’s header was brilliantly defended by Itumeleng Khune.
Steve Komphela’s side hoped things would change in the second stanza but Ajax came out the dressing room with the same attitude.
It was then, in the 55th minute, that Chiefs would start panicking as Mathoho brought down Paulse in the penalty area and the veteran forward made no mistake in slotting the spot-kick home.
Amakhosi tried to find their feet throughout the rest of the encounter but Ajax were determined to hold onto their 1-goal lead.
In the end, the Urban Warriors defeated the defending champions 1-0 to claim the R8m prize.
Kaizer Chiefs: Khune, Masilela, Xulu, Gaxa, Mathoho, Katsande, Tshabalala, Letsholonyane, Lebese (Maluleka 78’), Mthembu (Abraw 58’), Parker (Manqele 58’)
Ajax Cape Town: Jaakkola, Lolo, Lebusa, Coetzee, Losper, Norodien (Isaacs 73’), Mobara, Mdabuka, Mzawkali (Cale 81’), Graham (Scott 84’), Paulse