African National Congress (ANC) secretary-general Ace Magashule has defended radical economic transformation (RET) rhetoric, saying it's a party policy that cannot be changed.

He was speaking in Kliptown on Tuesday at a 150th commemoration event for struggle stalwart Charlotte Maxeke.

His comments come after President Cyril Ramaphosa announced that the ANC's national executive committee (NEC) decided that no ANC members could associate with the so-called radical economic transformation faction within the party. The faction is seen as loyal to Magashule and one which is organised by a staffer in his office, Carl Niehaus.

Magashule, who's already fighting tooth and nail to retain his position in the ANC, said the economy should be in the hands of African people. 

"There's no country in the world where the majority are not actually the owners of the company. South Africa must change for the best and I think the women leadership of this country, the women's league can actually play that important role," he said.

He called on the ANC Women's League to unite and build the economy of the country.

"Today must be better than yesterday. And tomorrow must be better than today. The face of the economy of South Africa must be the face of women, not women who are wives, children and daughters, of leaders. The face of the economy must be the face of women," he said.

Magashule is expected to meet 150 veterans and elders for lunch later today.

This comes as the secretary-general seemingly digs in his heels against a party decision that leaders who are criminally charged should step aside from their positions. He faces corruption-related charges and is out on R200 000 bail. 

He is meant to be consulting with the party's former leaders as the deadline for him to step aside at the end of the month draws closer.