The Congress of the People (Cope) has 74 631 members, according to audit figures released on Monday.
The party's largest base is in the Eastern Cape with 22 959 members, while its smallest membership is in Mpumalanga with only 57 people.
Party general secretary Charlotte Lobe said that Cope - which broke away from the ruling African National Congress - was ready to hold its inaugural national congress, at which its leadership would be elected.
Shortly after its formation Cope claimed to have nearly 500 000 members.
However, the audited figures revealed that interest in the fledgling party had dwindled.
Lobe said that at the time of the party's inception, the interest in it was close to 500 000 people.
"They showed an intention to join the Congress of the People," she said at a media briefing at the party's headquarters in Braamfontein.
She said that Cope was an "idea" and irrespective of whether its leadership failed or not, that idea would last.
Cope's elective congress, which is scheduled for the end of May, would go ahead despite calls from some provinces for it to be postponed, Lobe said.
She said that a weekend meeting of the party's congress national committee (CNC) had dismissed issues raised by its Mpumalanga branch, which was the only one that had requested a postponement.
She said that the Free State was represented at the CNC meeting and that it was part of the decision that the elective congress would proceed.
"The CNC felt we are ready to host the conference."
The party has been plagued by a leadership battle between its president Mosiuoa Lekota and his deputy, former Gauteng Premier Mbhazima Shilowa.
As a result, many senior party members have left Cope.
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