Disclosing this, Afro-Asian Cricket Co-operation (AACC) chairman Jagmohan Dalmiya said here today that the matches have been recognised by the International Cricket Council (ICC) as official ODIs.
The first game would be played on August 17 at Supersport Park, Centurion, in Pretoria, while the second and third ties are slated to be held on August 20 and 21 at the Saharastadium, Kingsmead, in Durban.
Dalmiya said it was also decided at the AACC meeting in Kolkata on Sunday that the matches would be played under floodlights and commence at 12 noon (South African time).
He said top stars from leading cricketing nations of both continents would participate in the tournament and proceeds from the matches, after meeting expenses, would be utilised for developing cricket in Asia and Africa at various levels, including junior.
Dalmiya said the prize-money for the series would be $100,000.
The winning team in each of the three matches receives $25,000. The Man of the Match would be richer by $5,000, while the Man of the Series will get $10,000.
He said the matches would be telecast live and talks are on with several media houses.
Discussions too are on with sponsors, but final agreements are still to be reached.