Earlier this month, Gwala revealed he had been diagnosed with colon cancer and could not continue hosting the show.
He is receiving treatment and 702 said in a statement that it looked forward to his return when he was ready.
"We send heartfelt thanks to the many listeners who have sent through messages of support, advice, wishes, and encouragement for Xolani," said station manager Thabisile Mbete.
Bingwa started hosting the drive-time show after Redi Tlhabi left the station in July.
"Bongani is a natural drive-time host. He brings personality, curiosity and a critical eye to all the stories of the day. We believe he is the right person to lead audiences through the many complex issues that affect our lives in Gauteng," Mbete said.
Stephen Grootes, who has been standing in for Gwala, will take over the drive-time show, with the new line-up coming into effect on January 15 next year.
"I've loved informing people and getting them up and going in the morning, and I'm looking forward to informing them and hearing their views in the afternoons. It's been a big news year in our wonderful complex country, and next year is likely to be the same," Grootes said.