South Africa made their way to the final by defeating Sri Lanka in the first semi-final by 92 runs; the match was reduced to 39 overs per innings due to rain.

South Africa, Sri Lanka, India and West Indies defeated England, New Zealand, Australia and Pakistan respectively in the quarterfinals, and qualified for the semi-finals.

On the rainy day, the match was initially reduced to 39 overs per innings, and Sri Lanka, who had won toss, invited South Africa bat to first.

[12] South Africa started their campaign without their key players: Shaun Pollock, Allan Donald, Lance Klusener, Gary Kirsten and Roger Telemachus.

[13][14] West Indies replaced their leading fast bowler Curtly Ambrose with Reon King, who made his debut in the tournament.

[15] The final of the inaugural edition was played between South Africa and West Indies on 1 November 1998 at Bangabandhu National Stadium, Dhaka.

Philo Wallace and Clayton Lambert opened the after West Indian innings whereas South Africa started their bowling attack with off-spiner Pat Symcox and Steve Elworthy.

[16][17] West Indies lost their first wicket in the sixth over at 18 runs when Lambert was caught by Symcox at mid-wicket off the bowling of Elworthy.

[16][18] The next batsman, Chanderpaul, shared 76 runs – the highest partnership of the match – with Wallace taking the total to 94.

[16] Wallace completed his century off 98 deliveries; he scored 103 runs from 102 balls including five sixes and 11 fours.

[18] Arthurton was dismissed lbw whereas Hooper and Simmons were caught by Rhodes off the bowling of Kallis.

[18][20] Mike Rindel and Daryll Cullinan opened the South African innings with a positive approach.

West Indian captain Brian Lara then introduced Hooper into the bowling attack.

[16][18] Boucher, promoted in the order, was beaten on the leg-side by Hooper, and stumped by Ridley Jacobs.

In the 26th over, a direct throw from Arthurton resulted in the end of Rindel's innings who was one short of his fifty.

[19] Benkenstein scored 27 runs before caught by Hooper at short mid-on off the bowling of Dillon.

Sheikh Hasina, the Prime Minister of Bangladesh, handed over the trophy and the cash award.