The ban, which will take immediate effect, was announced by Cricket South Africa (CSA) chief executive Haroon Lorgat during the fourth and final Test between South Africa and England at SuperSport Park.
Gulam Bodi charged under anti-corruption code
Lorgat said aspects of the investigation were still ongoing. He refused to confirm or deny names of other players who have been reported to be under investigation, but said: "We are fortunate that several players rejected his approaches."
He said the South African police had been informed in terms of anti-corruption legislation.
Lorgat hinted that some players might be charged with failing to report approaches by Bodi.
"Our code is clear on the obligation of a player to report any approaches. If it is found that a player has failed to report we would look at the facts and decide on a proportional sanction," he said.
Bodi, 37, played in two one-day internationals for South Africa, both against Zimbabwe, in August 2007.
He played in a single Twenty20 international against the West Indies in December of the same year and was a member of South Africa's squad for the inaugural World Twenty20 in 2007, although he did not play in a game. His last appearance in a domestic game was in January 2015.
The not so lucky match-fixers of Pakistan
"There is no doubt that Mr Bodi's actions have threatened the integrity and image of the game we love and he must be handed a strong punishment. We have had many discussions with Mr Bodi and he accepts the folly of his actions," said Lorgat.
Five years of Bodi's ban are suspended on condition that he commits no further offences and actively participates in corruption-related education programmes.
Lorgat said the examples of Pakistan's Mohammed Amir and English county player Mervyn Westfield showed that it was possible for players found guilty of corrupt activity to help in educating players about the dangers of corruption.
COMMENTS (1)
Comments are moderated and generally will be posted if they are on-topic and not abusive.
For more information, please see our Comments FAQ