Playing in his first tournament since October because of a wrist injury, Lorenzo-Vera totaled 12-under 132 on the par-72 course. He leads Ernie Els (67) and three others at the event co-sanctioned by the European Tour and the Sunshine Tour.
He started on the 10th hole and had his five birdies from the first through sixth.
I was putting very well on the front nine, from far away, too, but nothing was dropping for me, Lorenzo-Vera said. And then on the back nine, I managed to get it a little bit nearer the flag and started to hole them, so everything was good.
Els had his second consecutive 67 to keep him in contention.
Weve got two rounds left, so theres a lot of golf left, Els said. If Im two shots behind with two to play, I still have a chance to win.
Also tied for second were Englands Lee Westwood (68), South Africas Charl Schwartzel (65) and Irelands Damien McGrane, whose 64 was tied for the best round of the day.
Three players were another shot back in sixth place, while two-time U.S. Open champion Retief Goosen was tied for ninth after a 66 put him another stroke behind.
Defending champion James Kingston of South Africa missed the cut after a 74, while Masters champion Trevor Immelmans 71 put him eight shots back.