The plan circles around hosting a GP having the same style as the Monaco GP inside South Africa’s Capital, Cape Town. The country’s last GP was almost 20 years ago on a circuit called Kyalami. The 1993 South African GP was won by F1 legend Alain Prost.

“The benefits of F1 look very compelling, however we need to look at the cost of hosting another big sports event and if it is in the developmental interests of the city,” Mansoor Mohamed, executive director of economic, social development and tourism for the City of Cape Town, said.

Close insiders indicate that the race would cost around 150 million dollars to be able to be on the right level standards.

He said a final decision by the city on whether to support an F1 bid was expected within the next six to 12 months.

We have to mention that South Africa has Africa’s biggest economy.

On the other hand Rome officials have declared that they have abandoned their plans to host a race by 2014.

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