It is expected that Zuma's deputy and the new leader of the ANC, Cyril Ramaphosa, will succeed him as head of state.
This comes as weekend reports suggested that Zuma was against the wall as some party officials allegedly wanted the National Executive Committee (NEC), which met over the weekend, to recall him as head of state as soon as this week.
According to the executives of the party, "we discussed this matter... there will be interaction between officials, President Zuma and (party) president (Cyril) Ramaphosa and there is no timeline." .
Meanwhile, Bloomberg reported that the clock is ticking on president Jacob Zuma's scandal-ridden administration. There was no immediate comment from Zuma's spokesman. Zuma's closest allies still hold senior positions in the party, and he could in theory remain president until the 2019 election that marks the end of his second and final term in office. The ANC, which has ruled since 1994 when Nelson Mandela won the first multi-racial election, recorded its worst-ever results in 2016 local polls.
Economic growth has slowed to a near-standstill under Zuma's leadership and his tenure has been tainted by a series of corruption accusations, which he denies.
At 0629 GMT, the rand traded at 12.0950 per dollar, 0.35 percent lower than its NY close on Monday.
Giants, Austin Jackson agree to two-year, $6 million deal
Jackson is coming off of a very strong season for the Indians in which he hit a robust.318/.387/.482 over 318 plate appearances. The Giants had been linked with guys like Lorenzo Cain and Jarrod Dyson , so it's possible they aren't done adding outfielders.
The decision is part of a judicial campaign against corruption but is also seen as damaging to Zuma because of his association with the Guptas.
Ramaphosa, 65, on Sunday left South Africa to attend the World Economic Forum in Davos.
"Zuma is in a corner and neutralised", said Professor Susan Booysen at Wits University's School of Governance.
He would not confirm whether a political deal would be offered to Zuma in return for his swift exit from office.