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Inside the R6.7 billion plan to bring Formula 1 back to South Africa

Shaun Jacobs • 22 September 2026

Business leaders are working to bring Formula 1 back to South Africa, with plans to bring the motorsport to the Swartland region of the Western Cape.

This is far from South Africa’s historic motorsport home of Kyalami, which is owned by Porsche South Africa CEO and business giant Toby Venter.

Venter has his own plans to bring Formula 1 back to Kyalami, with the circuit being upgraded to meet the requisite safety standards.

Formula 1 races were last held in South Africa at Kyalami intermittently between 1967 and 1993.

However, a new bid led by former Sibanye Stillwater CEO Neal Froneman is gathering momentum to bring Formula 1 to a purpose-built track north of Cape Town.

Froneman was a mining CEO known for his dealmaking and turned Sibanye into one of the largest precious metals miners in the world.

Now, alongside a consortium that includes fellow mining veteran Srinivasan Venkatakrishnan and Webber Wentzel’s Robert Appelbaum, Froneman is working to bring the pinnacle of motosport back to South Africa.

The consortium aims to build an R6.7 billion motorsport complex in Swartland, with a presentation showing it is reminiscent of many circuits on the current Formula 1 calendar.

Froneman’s presentation lays out ambitious plans to develop a motorsport complex on more than 80 hectares of land, less than 30 minutes away from Cape Town.

The circuit alone will cost R2 billion and will have a capacity of 125,000 seats, one of the highest in the sport.

Froneman and his consortium argued that there is already sufficient infrastructure in the area to support such a development, minimising its cost.

Apart from power, water, and internet connectivity, the consortium estimates that 75% of attendees will be able to reach the circuit by public transport.

Building a track from scratch also has some advantages. It can be designed to meet Formula 1’s standards from the off and support events beyond the Grand Prix.

The development will incorporate an amphitheatre, a waterfront, and a mixed-use commercial precinct that can be used year-round.

This boosts the project’s economic viability. However, many failed Formula 1 masterplans included ambitious second-round effects that did not materialise.

Week-long extravaganzas

The main advantage of having a Formula 1 race in Cape Town is the city’s international appeal, Froneman said.

This enables it to meet the modern demands of the sport, which goes far beyond hosting the main race on a Sunday.

Formula 1 in the modern era entails a week-long extravaganza with entertainment and music that requires a circuit to be multi-purpose.

Froneman’s consortium believes that Cape Town is the best city in South Africa for this, despite Kyalami being the home of local motorsport.

“Modern Formula 1 is no longer built around circuits alone. The sport has grown into a global entertainment property comprising 24 events a year, each anchored in a city the world already wants to visit,” Froneman said.

Froneman explained that a new-build development would “avoid the disruption and inconvenience to residents.

The project will also avoid the significant public costs associated with street circuits, which make such a proposition unfeasible for a city like Cape Town.

There is widespread support for a Formula 1 race in South Africa. However, some believe it should be at Kyalami given its history.

Rwanda has also expressed interest in hosting Formula 1, although any potential racetrack might not have sufficient capacity and infrastructure to meet the stringent hosting requirements.

Sports Minister Gayton McKenzie has previously revealed discussions with Formula 1 organisers to host an event in South Africa.

McKenzie said talks with potential sponsors to help bankroll the project have progressed well. Sponsors are expected to help raise R923 million to fund South Africa’s bid.

Froneman’s consortium says it has the support of the local municipality and the national sports department in its bid to bring Formula 1 back to South Africa.