The striker, who clinched the 2016 Under-17 Cosafa Championship Golden Boot after scoring five goals, is one of Malawi's brightest talents.
Banda was linked with the Buccaneers soon after the Junior Flames scooped bronze at the regional youth tournament which was hosted by Mauritius.
Despite reported interest from Bucs, Banda stayed put at his Malawian club Griffin Young Stars after his proposed transfer to the Soweto giants failed to materialize.
The teenager then attracted interest from top Malawian clubs, Nyasa Big Bullets and Be Forward Wanderers, who are campaigning in the TNM Super League.
However, Stars refused to sell the highly-rated forward to the Bullets and Wanderers during the January 2018 transfer window.
Latest reports indicate that Pirates have renewed their interest in Banda, who is now part of the Malawi under-20 national team squad.
Banda is said to be part of the Pirates reserve team which recently travelled to Rio De Janiero, Brazil for the Project X Tour.
"The Junior Flames will be without star striker Peter Banda who is in Brazil with Orlando Pirates as part of his trials," Maravi Post reported.
Banda is expected to miss Malawi's 2019 Caf U20 Africa Cup of Nations (Afcon) qualifier second round first-leg clash against Angola later this month.
"But Banda could be available against Angola as he is expected to return home just a day before the match on the weekend of May 11 and 12 in Lilongwe," another statement read.
It remains to be seen whether or not the 2017 Malawi Sportsman of the Year Banda will impress and earn himself as a deal with the Houghton-based side.
He will be hoping to follow in the footsteps of his countrymen Ernest Mtawali, Josephy Kamwendo and Chiukepo Msowoya, who all played for Bucs in the PSL era.