In a deal worth R500m (US$69m) over five-years, it has agreed a deal with financial firm Absa and brewer SAB Castle Lager.
It comes ahead of South Africa hosting the 2010 FIFA World Cup.
Dr Molefi Oliphant, president of the South African Football Association, said: “We believe this ground-breaking co-sponsorship arrangement will ensure that Bafana Bafana exceed all South Africans' expectations at the 2010 FIFA World Cup and beyond.”
Added Dr Steve Booysen, Absa group chief executive: “The partnering of two of South Africa's most-loved brands and our national team heralds a new era in South African football.
“It will spark the nation's energy and excitement and further turn the spot-light on Bafana Bafana. We are confident our boys will succeed and are proud to play a role in bringing the world's most popular and beautiful game to millions of South African football supporters.”
