The Urban Warriors have been expected to sign a defender after deciding against signing Jomo Cosmos captain Frederic Nsabiyumva
Malepe rejoined Pirates from Moroka Swallows prior to the 2016/17 season following a loan stint with with the Dube Birds.
The 20-year-old defender featured regularly in the Multichoice Diski Challenge (MDC) for the Bucs reserve team.
He found it difficult to break into the Pirates first team starting line-up as experienced defenders were preferred ahead of him.
The Urban Warriors are said to have signed the South Africa youth international on a season-long loan deal from the Buccaneers.
Malepe will be hoping to impresss Ajax head coach Stanley Menzo and revive his career at the Cape Town-based side.
The highly-rated defender captained South Africa at the 2017 Fifa Under-20 World Cup finals which were hosted by South Korea.
He was also part of the South Africa squad that participated in the 2018 African Nations Championship (Chan) qualifiers.