The official confirmation came just after midday on Tuesday following a Cricket South Africa (CSA) board meeting.
More details of the postponement were to be announced shortly.
The tournament was rocked two weeks ago when CSA and its CEO, Haroon Lorgat, parted ways.
Lorgat had been the mastermind behind the T20 Global League.
Last week, acting CSA CEO Thabang Moroe confirmed to media that the first two editions of the tournament were set to run at a loss.
The major stumbling blocks, it was reported, were the lack of a broadcast deal and a title sponsor.
CSA is currently preparing a statement on the matter...