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Unfortunately Cape Colony starts as a puppet which can’t do its own diplomatic plays.
I had the same problem, I found that it helped to disband some of the military to pay all the bills until my industry got started
So, get a head start on the European nations by doing that.
Incorporate your states and try and balance the books initially. You'll be fine eventually as Gold Mines should pop up and bankroll you to relative stability. Then it's just a matter of trying to manage your economy within the British market ~ unfortunately, there's no local market data, so you'll not be able to see whether you can sustain yourself if you exit the market via an independence play.
If you want to play for independence, you need to damage British relations and start improving relations with their rivals. France is usually the only one in the area that has interest in helping you out though.