The club that offered McCarthy the job is believed to be Ajax Cape Town, who recently parted ways with coach Andries Ulderink.
“If it’s the right club, the right chairman and owner, someone I can work with then sure, I’ll be up for it,” McCarthy told BBC Sport.
“But I’m not just going to take a job for the sake of taking it if it’s not the right move for both parties.
“The Ajax Cape Town job was probably mine if I wanted it. I had a few discussions with the club’s CEO Ari Efstathiou – we had great conversations.
“The project could have been good but the timing wasn’t right for me.”
The former Bafana Bafana striker says he would prefer a coaching job closer to his family in Scotland but says he is open to moving to another country if a right offer comes along.
“As much as I’m South African at heart being closer to my family is very important to me,” he continued.
“Given all the time I spent playing in Europe, I know the football culture and the mentality there.
“It would make more sense if my next move would be a European club whether it’s in Portugal, the Netherlands, Belgium, England or Spain, which I doubt because people of my colour don’t get to coach there. But I won’t limit myself to Europe because if the right offer comes from anywhere in the world I would be happy to take it.”
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