From what I can determine from "Comparison of PM Standards and Assessments" available at Global Alliance for the Project Professions (globalpmstandards.org) - SAQA NQF 5 closely aligns with PRINCE2 and PMBOK. But these are the standards that are assessed, not the certifications/qualifications themselves such as PMP or PRINCE2 Practitioner.
Comparing the certifications seems a little tricky as I cannot find any direct mapping.
So our way will get a little roundabout...
PMSA's Project Manger (Level 1) and Senior Project Manager (Level 2) designations require NQF 7 & experience. And the Professional Project Manager (Level 3) - NQF 8 & even more experience.
When comparing the PMSA designations to the IPMA's certifications they seem to match rather closely to the bottom three IPMA certifications:
PMSA Level 3 == IPMA Level B
PMSA Level 2 == IPMA Level C
PMSA Level 1 == IPMA Level D
Looking further at IPMA's website (ipma.world) or in my case (ipma-usa.org),
IPMA Level B is directly compared to PMI's Program Management Professional (PgMP) and IPMA Level D is likened to PRINCE2 Foundation and PMI CAPM.
So now we have, albeit a circuitous route:
PMSA Level 3 == IPMA Level B == PMI PgPM
PMSA Level 2 == IPMA Level C ~~ PMI PMP / PRINCE2 Practitioner
PMSA Level 1 == IPMA Level D == PMI CAPM / PRINCE2 Foundation
The PRINCE2 Practitioner is kind of a strange beast as it can be completed without any experience requirement, completely opposite of the PMP, but they are both higher level certifications that a learner must have in-depth application knowledge to pass - hence I grouped them both at IPMA Level C.
This is just my take on your question, and very possibly another practitioner or professional may have a different take, but until someone with PMSA or SAQA gives us their official word. This is how I'll view the scenario. Saving Changes...
PMP qualification should be assessed on it own and separate to other educational frameworks as it standard has been built up and reiterated over fifty years. This would be a different process to the educational framework of a country that is reflective of the unique demographics of a country. PMP and PMI itself caters for Project Managers who generally have a primary degree and who after obtaining the necessary minimum qualifications can apply and if accepted can take the PMP test. Saving Changes...