In 2015 the World Cup was won by Australia in Sydney, while the 2019 tournament will be held in Liverpool in July.
Molly Rhone, president of the International Netball Federation (INF), said hosting the tournament in South Africa would have “a greater impact”.
“We were delighted to receive two exceptional bids and the INF Board was satisfied that both Netball New Zealand and Netball South Africa would be capable of hosting a successful and thrilling NWC2023,” she said.
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“The INF Board decided that the significant investment the South African Government and Western Cape were prepared to make over the next four years in netball facilities and coaching programmes in South Africa, the African continent and beyond would deliver a greater impact on the development of global netball.
“It is an exciting time for netball right now. Our sport is growing in popularity at an unprecedented rate throughout the world.”