The African and New world cichlids separated at the same time Africa, and South America pulled apart as the super-continent, Gondwaland, @ 160 million years.
The most basal (primitive) African species is thought to be Heterchromis multidens, and is sometimes referred to as a link between the cichlids of both continents.
The most basal of South Americans is thought to be Retroculus.
So I suppose if you wanted to research whether African and S Americans could hybridize, those would be your best candidates, although from the same family, Cichlidae, this is where the similarities end.
Heterchromis, is from the sub family Pseudocrenlabridae
Retroculos sub-family is Cichlinae, and belongs to the tribe Retroclini.
Within a "tribe" is where we start to see the ability to hybridize.
And this has happened between two continental divides, North (AKA Central) and S America, in different genera, although both species are in the same tribe.
It has been seen that members of the Central American genus Amatitlania, tribe Therapsini have crossed with similar appearing cichlids , the South Americans from the genus Australoheros, yet also in the tribe Therapsini, and produced viable young. Beside looking similar, they are both substrate spawning cichlids, that date back to a radiation of Heroine cichlids.
There was some talk a few years back that maybe African, and New Worlds should be separated into two separate families, because they are very different, don't know where that went though.