Bucs are keen on acquiring the services of the talented Ajax Cape Town midfielder, who made 18 Absa Premiership appearances for the Urban Warriors last season.
"I had a meeting with Pirates last week and we spoke about Bantu, but nothing has been finalized at the moment," Mthethwa told Goal.
The 20-year-old made his memorable official PSL debut against Mamelodi Sundowns last September.
Mzwakali impressed with brilliant ball control and off the ball movement, as the two sides drew 2-2.
Bucs will have to buy the diminutive attacking midfielder out of his Ajax contract, because he's still tied to the Urban Warriors until 2017.