We did both end up getting business class seats from EZE to JNB. Not sure if first class was unavailable or if MH just won't allow WorldPerks business class awards in F on that route. (The award chart certainly does seem to indicate that it is a business class only award route.) I still think U.S. or Canadian WorldPerks members will find it much easier to get to South Africa via Argentina (using Copa or Delta and then Malaysian) then to go via Amsterdam or Paris (on KLM or Air France) - especially if you want to go in business class or perhaps first class. We were happy to "pay" 120,000 miles for roundtrip business class tickets to Africa via Buenos Aires.
BTW, one poster mentioned using 90,000 CO miles (in coach) for this routing - I don't think that will work as MH isn't (as far as I know) a partner in CO's Onepass program. MH IS a partner of Delta, but Delta will charge you 80,000 miles (coach) or 100,000 miles (business) just to get from Buenos Aires to South Africa.