Political liability
Zuma's sacking last year of Finance Minister Pravin Gordhan triggered downgrades of South Africa's credit rating to junk status, significantly raising borrowing costs for Africa's most industrialised economy.
It also brought tens of thousands of anti-Zuma protesters onto the streets in nationwide marches.
"The ANC cannot avoid dealing with the future of Jacob Zuma. The leadership know the longer Zuma stays, the more damage it could do at the ballot box," said Susan Booysen, an author and professor at Johannesburg's University of the Witwatersrand.
Two senior committee members told Reuters Ramaphosa's faction in the ANC did not want to try to openly oust Zuma since the NEC was only elected a month ago and because Ramaphosa's victory was marginal.
There could be a less high-profile meeting of the NEC next week where a more serious discussion about Zuma leaving would be held, one of the senior party members said.
"Ramaphosa has to chart a very careful course so he can win broad ANC support and negotiate a dignified exit for Zuma," independent political analyst Daniel Silke said.
A former trade unionist who was the ANC's key negotiator in the talks that lead to the end of apartheid, Ramaphosa went on to become a wealthy business tycoon, making him a favourite of both the party's left wing and the business community.
A smiling Ramaphosa looked at ease when journalists were briefly allowed into the meeting for a photo opportunity. He had earlier been seen jogging on the city's waterfront.
"This is the time for renewal for the ANC," said Sidney Nkadimeng, 43, a rank-and-file ANC member from Pretoria who is in East London for the party's birthday celebrations.
