Agang SA could reconcile following the resignation of leader Mamphela Ramphele, the party said on Wednesday.
She announced her exit from politics on Tuesday, claiming she wanted to return to working alongside the country's citizens in civil society.
Agang SA had been divided into two factions, with the one side aligned with Ramphele and the other calling for her removal as party head, said Agang SA acting spokesman John McConnachie.
“Talks aimed at settling the differences between the two factions may take place this weekend and could also afford a reprieve to the party's two parliamentary leaders, Mike Tshisonga and Andries Tlouamma,” said McConnachie.
“Agang SA's reconstituted NEC yesterday (Tuesday) decided to explore the possibility of such talks as a last resort to stop destructive in-fighting and a likely protracted court battle.”
Tshisonga and Tlouamma were served notices of expulsion by the party last week.
This came after their alleged involvement in plans to oust Ramphele from the party.
In June, Ramphele and Tshisonga opened separate fraud cases with police over a bank account opened to receive a refund from the Electoral Commission of SA (IEC), believed to be around R200 000.
At the time, Tlouamma announced that Tshisonga, who is also the party chairman, would be acting president.
Tshisonga and Tlouamma were both members of Agang SA's former national executive committee.
The former NEC has been replaced by a newly constituted NEC formed by a task team appointed by Ramphele after the elections.
Tshisonga and Tlouamma and the other members of their faction had rejected the legitimacy of the newly constituted NEC.
McConnachie said the weekend talks would be a “once-off” offer and that they must take place and be finalised.
If the talks failed, the party planned to proceed with urgent disciplinary measures against Tshisonga, Tlouamma and their faction, said McConnachie. - Sapa