You're a dreamer, and thats nice, but there are many other businesses out there that would be far better/easier for a local entrepreneur to entertain.
The success of a console comes down to the games made for it. That's why Sony and Microsoft have been waring over exclusive titles for years. So if you build a locally made console, which MAJOR developer are you going to get to build an exclusive game for it, and where are you going to find the more-or-less R3billion that they are going to want you to give them to fund the development? You better also ensure that this game is a hit.
Secondly, Microsoft is leading the way in cloud gaming, and Sony are not far behind. Does this local console come with cloud gaming as well so you can, for example, play on your phone? That isn't available in SA YET but its happening oversease.
Thirdly, Sony and MS offer subscription services to their platforms that allow you to play hundreds of games with your sub. What does your subscription model look like for the local console, and what games are going to be on it? How are you going to incentivize or pay those developers to make their games available to owners of your console?
All of these things are critically important, because we all know the Sony and MS dont actually make any money on the tin. It just enables the cash-flow which comes from their on-console stores (oh ja, are you going to build on of these too?), the subscriptions, a royalty on in-app/in-game sales etc.
So hopefully this has enabled you to understand that building a local console is both pointless and practically unattainable. The Ouya tried with a novel concept, and failed. Sega have't tried in forever. It's not a very nice game.