Amakhosi booked their place in the Last 4 after beating Chippa United 1-0 on Sunday afternoon through a Bernard Parker strike.
As difficult the encounter away to the Students will be, Steve Komphela will fancy his chances for a place in the final.
The 50-year-old mentor guided Chiefs to the final of the same competition in his first season in charge, only to lose to Mamelodi Sundowns.
Rise and Shine upset the odds to book their place in the semi-finals, thanks to their 4-2 penalty shootout win over Orlando Pirates on Saturday.
This will be City's first semi-final appearance since gaining promotion to the elite league, while Celtic are the former TKO champions.
The two matches will take place on the weekend of November 18 and 19, 2017.
However, the PSL will release the official dates, venues and kick-off times in due course.