South Africa moves closer to hosting Formula One race
"Today, we turn the page to a bold new chapter for Kyalami. We are ready for the return of Formula One to African soil," said Venter.
"When we acquired Kyalami in 2014, we made a commitment to restore it, not just as a world-class venue, but as a beacon for motorsport across Africa.
"The acceptance by the FIA of our grade one design is a major step forward in that journey," added Venter, an importer of luxury vehicles.
Kyalami and Cape Town in South Africa, Rwanda and Morocco have expressed interest in bringing F1 racing back to Africa.
The British company charged with doing the upgrades said they were "minor", and could be completed within three months. FIA has given Kyalami a three-year deadline for completion.
Upgrades, which will not change the 4.5 kilometre (2.8 miles) circuit layout, include enhancing run-off areas and barriers.
"The proposed FIA grade one upgrade focuses on enhancing run-off areas, barrier systems, debris fencing, kerbs, and drainage," a company spokesman said.
"This is a light-touch upgrade in engineering terms, but one that enhances the already excellent circuit standards to meet modern grade one requirements."
More spectator zones and grandstands have also been earmarked as part of a bigger upgrade, leaving Kyalami as the only grade one certified venue in Africa.
Kyalami has hosted 21 F1 Grands Prix, the last in 1993 won by Alain Prost for Williams. The annual event was discontinued because it proved too costly for the then owners to host.
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