Ramaphosa addressed the caucus flanked by party secretary-general Ace Magashule and ANC chief whip Jackson Mthembu in Cape Town as the efforts for Zuma’s exit (known as Zexit) gathers momentum.
The meeting was seen as extraordinary, as the ANC usually holds its caucuses after the all-important State of the Nation Address (SONA), which is considered the official opening of Parliament.
The SONA was postponed indefinitely this week due to the ongoing succession crisis.
During the briefing, Ramaphosa assured the MPs that his transition talks with Zuma would be concluded in “a day or two."
Sources privy to the details of the talks quoted him saying "Immunity from prosecution is not even on the table…it is not in my powers to give him that".
At the end of the meeting, the MPs said that Ramaphosa wanted to end speculation in the media that his Tuesday night talks with Zuma involved protecting him from possible corruption charges.
National Director of Public Prosecutions Shaun Abrahams still has to decide if he will reinstate 783 fraud and corruption charges against Zuma following a court decision.
The charges had been dropped when Zuma became president in 2009 after ousting President Thabo Mbeki, who earlier dismissed him from office in 2005, when the allegations first came to light.
Zuma is also a subject of an inquiry into state capture, headed by Deputy Chief Justice Raymond Zondo, who has powers to recommend that those implicated should face criminal charges.