The African National Congress' selective conference has opened in South Africa's largest city Johannesburg, in an event that is being attended by more than 5,000 delegates.
75-year-old Zuma can serve out his presidential term until the country's national elections, which are scheduled for 2019, Sputnik reported.
Meanwhile, current deputy president Cyril Ramaphosa, also a wealthy businessman, and former cabinet minister Nkosazana Dlamini-Zuma, President Zuma's 68-year old ex-wife, have already been named the main candidates for the presidency.
The ANC has been at the helm of South Africa for more than twenty years.
In November 2017, 93-year-old Zimbabwean President Robert Mugabe was pressured to step down after having ruled the country for almost forty years.