With deals for forwards Alvaro Negredo and Stevan Jovetic close to completion, the Chilean is looking to consolidate what he already has into a "very good squad."
The Chilean has already put his stamp on the squad that he inherited from former boss Roberto Mancini, having so far recruited Fernandinho and Jesus Navas from Shakhtar Donetsk and Sevilla, respectively, but still wants more before his side kick off against Newcastle on Aug. 19.
As revealed by Goal, City is closing in on a double swoop for Alvaro Negredo and Stevan Jovetic as sporting director Txiki Begiristain sat out their preseason trip to South Africa to tie up the deals.
"We will try to have a very good squad this year so, as you say, we are in the market. We don't know at this moment who is going to come here but we are trying to get the best players for us to add to our squad," Pellegrini told reporters.
"I don't know if, before we finish here in South Africa, other names will arrive to our squad. Maybe in the next few days we can have fresh news but at the moment I cannot tell you what you ask."
City's visit to South Africa is the first leg of a preseason tour that will also see it travel to Hong Kong, Munich and Helsinki.
Pellegrini has taken a squad of 30 players with him to the southern hemisphere but there are two notable omissions.
"Jesus Navas and David Silva are still on their holidays," the 59-year-old added. "They've just finished the Confederations Cup some days ago. They have at least 21-25 days holiday."