The party of Nelson Mandela last week saw its worst poll results since the end of white-minority rule in 1994, losing majority control of the largest metropolitan areas, including the capital Pretoria and business hub Johannesburg.
The ANC garnered less than 54 per cent of ballots cast nationally -- an eight percentage point drop from the last local poll in 2011.
The election results highlighted the declining popularity of the party that led South Africa's anti-apartheid struggle.
"The essence of the meeting is to say how do we interpret (the loss of support) and to seek ways on how we arrest the decline, how we turn the institution around."
The elections were largely seen as a referendum on President Jacob Zuma, whose rule has been dogged by scandal, including the use of public funds in upgrading his private Nkandla residence with facilities including a chicken coop and a swimming pool.
The meeting comes as both the ANC and the main opposition Democratic Alliance are deep in coalition talks with smaller parties to try to gain control of several cities.
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