According to Jordaan, there were 16 applicants for the job, including current Iran coach Carlos Queiroz and Nigeria's Stephen Keshi who were wildly considered to be the front-runners for the role.
Jordaan denied claims that Mashaba was the cheap solution for SAFA and instead said that the current SA Under-23 coach's track record was the deciding factor.
“If we had to appoint a coach at a bargain price, then there were other candidates. Clearly, we didn’t do that,” Jordaan stated - without elaborating on who those "other candidates" were and what Mashaba's salary will be, nor what he meant by "track record".
This is Mashaba's third stint in charge of the national team, having led the side for one match in October 1992 and then between August 2002 and May 2003.
Queiroz, who himself is a former Bafana Bafana coach (October 2000 to March 2002), was believed to have demanded R2.1m per month to take over while Keshi's Nigerian contract is believed to be worth R315 000 per month.
Mashaba, 63, replaces outgoing boss Gordon Igesund, whose contract runs until the end of August
Bafana Bafana coaches since 1992:
June 1992: Stanley Tshabalala
October 1992: Ephraim 'Shakes' Mashaba (caretaker coach, one match)
December 1992: Augusto Palacios
March 1994: Clive Barker
January 1998: Jomo Sono (interim)
March 1998: Phillipe Troussier
October 1998: Trott Moloto
October 2000: Carlos Queiroz
March 2002: Jomo Sono
August 2002: Ephraim 'Shakes' Mashaba
May 2003: Jomo Sono (caretaker coach, one match)
July 2003: Kenneth Kubheka (caretaker, one match)
December 2003: April 'Styles' Phumo
April 2004: Stuart Baxter
December 2005: Ted Dumitru
May 2006: Pitso Mosimane (caretaker coach, seven matches)
February 2007: Carlos Alberto Parreira
May 2008: Joel Santana
October 2009: Carlos Alberto Parreira
July 2010: Pitso Mosimane
June 2012: Steve Komphela (interim, two matches)
June 2012: Gordon Igesund
July 2014: Ephraim 'Shakes' Mashaba