Left disappointed after India curtailed their tour of South Africa, fans at the Newlands will be treated to a festival by Cricket South Africa.
Festival of Cricket, a three-day event, will feature a whole range of South African sports stars.
It will showcase highly competitive days of T20 cricket, firstly with a 'State of Origin' match between the North and South on January 4.
This will be followed by Ram Slam T20 Challenge kick off with a triple header involving all six domestic franchises.
CSA said these matches would feature and involve all the members of the current Proteas team.
"We were naturally disappointed with no Test match cricket to be played in Cape Town over New Year but we were determined that our fans should not change their New Year's date with Newlands," Lorgat said.
"We wanted to ensure the date and atmosphere at Newlands was not lost to our stakeholders, especially our fans, many of whom travel from abroad," he said.
In July, the South African board had unilaterally announced three Tests, seven ODIs and two T20s including the iconic New Year's Test at Newlands. But later the tour was curtailed by the BCCI making the series a two-Test and three-ODI affair.
"The Protea players are excited about the festival concept and particularly the opportunity to renew the north-south rivalry.
"Of course, we are disappointed not to play the icon Test match (against India) at Newlands, but this event sounds exciting," said Test captain Graeme Smith.
"I am confident all our Protea fans will turn up to support us in the various matches," Smith added.
T20 captain Faf du Plessis, said: "With a triple header to kick off our Ram Slam T20 competition, this tournament will be special as all of our best players will be competing. The stakes will be high and it won't be easy for any team."
CSA and the South African Rugby Union are still engaged in discussion regarding a possible exhibition match during the event.