“NSRI have handed the body of the deceased female into the care of the police and the forensic pathology services,” spokesman Craig Lambinon said in a statement.
He said rescuers located and recovered the body at 4.58am, during an ongoing search operation.
Five people went for a swim and were caught in rip-currents and swept out to sea at 8pm on Thursday.
They were part of a group of health volunteers, made up of South African and British volunteers, who were staying together at Woody Cape on a voluntary mission.
Three people were rescued and the body of a 21-year-old woman was recovered on Thursday night.
Lambinon said all five were British citizens.
“British authorities are assisting families abroad of the two deceased females,” he said.