The brothers, who both represented Zimbabwe at international level, were travelling to a friendly match when their BMW X5 struck a tree near Victoria Falls after a tyre burst.
Elder brother Adam, 42, spent seven seasons playing in Switzerland representing SC Kriens and SR Delemont before moving to FC Zurich.
The younger Ndlovu, 39-year-old Peter, had a lengthy career in England between 1991 and 2004 where he made over 400 appearances for Coventry City, Birmingham City and Sheffield United.
An update on his condition was given to the BBC by a close friend and former manager Winston Makamure, who said: "Peter is now out of danger. He is now conscious and is communicating.
"He has internal injuries, head injuries, broken ribs and a broken leg."
Former club Coventry City, the first English club to discover and offer Peter Ndlovu a playing contract, issued a statement upon hearing news of the accident.
"Coventry City sends its best wishes and condolences to the Ndlovu family who will be in our thoughts," a statement posted on Coventry's website said.
Zimbabwe Prime Minister Morgan Tsvangirai also offered his condolences to the Ndlovu family.
In message posted on his Twitter account, Tsvangirai said: "I am saddened at the passing on of Adam Ndlovu and injury of Peter. My prayers are with the Ndlovu family. I wish Peter a speedy recovery."