He further said that the party would be supporting the Democratic Alliance's motion to dissolve parliament, so that fresh national elections could be held.
They are promising Ramaphosa that today's event will be free of drama.
Malema said his party was not sympathetic to Zuma's appeals that he was being victimised, and warned South Africans not to fall for his "crocodile tears".
The parliamentary caucus of the governing ANC are set to proceed with a motion of no confidence in President Jacob Zuma on Thursday, the party's treasurer-general, Paul Mashatile, said on Wednesday. "We can not be the respecters of the constitution when it comes to Zuma, but when it comes to us, we want to pretend that we are clean", he said.
"The Speaker thanks the President Zuma for his service to the people of South Africa in the last eight years and wishes him well". Many party leaders had hoped that the transfer of presidential power would be dignified and graceful, with Zuma voluntarily resigning the presidency after Ramaphosa defeated his preferred candidate (his former wife, Nkosazana Dlamini-Zuma) in the race for party leadership.
He also spoke of the need to grow the economy, to combat corruption and sort out state-owned companies, promising concrete steps in his State of the Nation Address on Friday night. And I will seek to execute that task with humility, with faithfulness and with dignity as well. It was scheduled for 11:00 to give Zuma a chance to deliver his expected resignation address, which should have happened at 10:00.
The EFF walked out of Parliament on Thursday before Ramaphosa's election, saying that Parliament was now illegitimate.
Business Unity South Africa (Busa) has described the swearing in of President Ramaphosa as a pivotal step towards reviving business confidence. There shouldn't be an election of a president.
She said the organisation welcomes his commitment to being accountable to Parliament.