McNulty finished with a 2-under-par 70 to win with a total of 16-under par 272. Fichardt, who fired an opening round 63, stumbled down the stretch, making three consecutive bogeys and closed with a even par 72, five back of McNulty.
McNulty, the 49-year-old Zimbabwean, notched his 51st victory worldwide and his third in the Players Championship following previous wins in 1993 and 1998. It was his first at Royal Cape.
Its a wonderful thrill to win my 51st tournament here. Ive won at Royal Johannesburg and at Royal Durban, but never at Royal Cape until now. This is something special, said McNulty.
American Scott Dunlap ended up finishing second after a 8-under-par 64 on Sunday that got him to 13-under-par total, three off the pace.
Fichardt and Hennie Otto shared third place at 11-under 277.
McNulty, who was in contention for the Telkom PGA Championship and the Nashua Masters over the past four weeks, said he was happy to stay focused on his game plan.
I stuck to my game plan all week. That was to try and eliminate mistakes and not go for shots which were out of my repertoire. It was all a case of strategy. I said to Darren afterwards that I couldnt believe he hit driver all over the place. I just couldnt believe it. Darrens a good player, but he just makes some critical errors.
Final scores from the Vodacom Players Championship