Lock Adam Coleman later pulled out of the match for "family reasons", the third player to withdraw from the side named by coach Michael Cheika on Thursday, after loose forward David Pocock was ruled out by a neck injury on Friday.
Folau suffered his ankle injury in the opening Rugby Championship clash with New Zealand three weeks ago and missed the return game in Auckland the following week.
Cheika has moved Dane Haylett-Petty from the right wing to fullback for Saturday's clash at Lang Park with Jack Maddocks promoted from the bench to start in the number 14 jersey.
Tom Banks has come onto the bench and is likely to earn his second test cap against a Springboks side that suffered a 32-19 loss to Argentina two weeks ago in Mendoza.
Izack Rodda moves up from the bench to partner Rory Arnold in the second row, with experienced Queenslander Rob Simmons taking his place among the replacements.
The Wallabies are bottom of the southern hemisphere championship after losing their first two games to the All Blacks.
Updated team: 15-Dane Haylett-Petty, 14-Jack Maddocks, 13-Reece Hodge, 12-Matt Toomua, 11-Marika Koroibete, 10-Kurtley Beale, 9-Will Genia, 8-Pete Samu, 7-Michael Hooper (captain), 6-Lukhan Tui, 5-Izack Rodda, 4-Rory Arnold, 3-Allan Alaalatoa, 2-Tatafu Polota-Nau, 1-Scott Sio.
Replacements: 16-Folau Faingaa, 17-Tom Robertson, 18-Taniela Tupou, 19-Rob Simmons, 20-Ned Hanigan, 21-Joe Powell, 22-Bernard Foley, 23-Tom Banks.
(Reporting by Greg Stutchbury in Wellington and Nick Mulvenney; Editing by John O'Brien)
Share
