Nwabali, who would have won the title with a clean sheet against Ivory Coast in the final on Sunday, was denied after conceding two goals.
The Nigerian shot stopper feels his South African opponent was a deserving recipient of the Golden Glove.
Williams, who plays for Mamelodi Sundowns, was named Best Goalkeeper after helping South Africa win the bronze medal in the Africa Cup of Nations.
Williams made history as the first goalie to save four penalties in an AFCON shootout.
Williams had five clean sheets and surrendered three goals during the competition, whilst Nwabali kept four clean sheets and conceded four goals.
“Ronwen Williams is a very good goalkeeper to be honest. It’s not news to me, him winning it, he deserves it.
“I am competing with this kind of guy and he has the chance to win the best goalkeeper of the tournament, he deserves it. I wish him well, I give him credit,” Nwabali said.
