The former Mamelodi Sundowns and Bidvest Wits winger is now the property of Rise and Shine and is expected to be unveiled next week.
The Limpopo side beat fellow GladAfrica Championship sides Cape United and TS Sporting for the 37-year-old's signature.
According to Polokwane's chief operations officer Tincy Tema, the club had to break the bank to get their man, who has been a free agent since Bidvest Wits was sold to Tshakhuma Tsha Madzivhandila.
"We will make an official media statement, probably soon," Tema confirms snl24.com/kickoff.
Tema was asked how they managed to convince such a big name like Pelembe to come to the first division.
"Hey monna [man], we broke a bank hey. Remember he is a big name so obviously he can't come for free. It depends on the conditions, it depends on how you negotiate."
