Mbebe, who is chief executive of the 2013 Afcon tournament local organising committee, also revealed that naming of the host cities had been postponed to April 20.
Sunday Times reported that Port Elizabeth, Johannesburg, Rustenburg, Bloemfontein and Nelspruit presented successful bids, but Mbebe said no decision had yet been reached.
Yesterday an organising association agreement between the South African Football Association and the organising committee was signed in Johannesburg. The vice-president of the Confederation of African Football, Suketu Patel, attended the signing following talks with Safa.
Mbebe said bidding cities “must make a contribution towards the hosting of the event”.
“If the cities say costs versus benefits do not gel, then we will have that conversation,” he said. “But I must emphasise no decision has been reached about the conclusion of the process which is still in the hands of the technical support group.
“I hear reports say it’s unaffordable and too high. How do you say the money is not justifiable when you haven’t measured it against anything?”
He said a balance also needed to be struck between the coastal and inland cities. Cape Town was this week reported to be interested in hosting some of the matches.
“We had set April 3 as the date to announce venues, but could not go ahead as we need to provide the government with our recommendations,” said Mbebe. The president of Safa, Kirsten Nematandani, all four Safa vice-presidents and Safa honorary president Molefi Oliphant will serve on the organising committee board.