Having been soundly beaten by five wickets by the holders in their second match of the round-robin, GB marched into the final as group winners, with three wins and a superior run-rate.
Marc Reingold made an early breakthrough before South Africa moved to 90-3, with the impressive Zac Elkin leading the resistance.
With the match in the balance, a superb spell of 5-27 from Neil Lederman saw South Africa dismissed for 146. But the job was only half done.
Mark Bott and Caro put on 22 for the first wicket of the GB reply. Having seen off pacemen Yoni Fingleson and Colin Venter, Caro was adjudged leg before by off-spinner Lee Gruskin before Steven Reingold, captain Adam Brand, Marc Reingold and Bott soon followed.
Hilton Nathanson, who had an excellent competition with the bat, and Grant Reingold steadied the innings, before Nathanson walked after admitting he had clipped a ball that would have been otherwise deemed a legside wide.
Benjamin Lederman joined Reingold at the crease and the pair moved the score along to leave GB needing 20 runs from 22 balls, with three wickets in hand.
But GB fell agonisingly short after a run-out and Neil Lederman and Simeon Cohen were caught attempting to hit over the top.
Caro and Brand nominated Cohen as GB’s player of the tournament after several top-quality performances, which included four wickets against Australia and three against India. Steven Allweis also impressed with the ball, while
Steven Reingold claimed seven catches over the tournament. “We were within touching distance of gold, but it just wasn’t to be against a really talented South Africa team,” said Caro.
“We had them on the ropes after another strong performance from the bowlers, but we fell just short in the batting department, not for the first time. Credit to them for coming back at us hard and never giving up.
“Bringing home GB’s first silver medal in 32 years is an achievement we are all proud of. We come away with no regrets. I’ve loved every minute of managing a top set of players who have learnt so much from our coach, Jon Maunders.
“The senior players acted like father figures to the youngsters, both on and off the pitch, and my hope is the younger players will be stronger mentally and physically from this wonderful experience and for future Maccabiahs.”
GB squad: Danny Caro (player-manager), Adam Brand (captain), Marc Reingold, Hilton Nathanson, Mark Bott, Steven Reingold, Grant Reingold, Ben Kohler, Jonny Gould, Benjamin Lederman, Neil Lederman, Simeon Cohen, Steven Allweis, Rafi Saville, Jon Maunders (coach)