President Jacob Zuma said on Wednesday the party would use next years' national policy conference to reflect on progress.
"In June next year the ANC will hold its national policy conference where we will reflect on the progress made in the last couple of years, including radical economic transformation.
"In the policy conference before Mangaung, we sharpened this particular policy. Today's session contributes to that process of reflection," Zuma said.
He was speaking at an ANC Youth League (ANCYL) Economic Freedom Lecture at the Olive Convention Centre in Durban.
"Each ANC conference takes stock of progress made and what else needed to be done to achieve this particular goal or other goals...."
Zuma said the ANCYL was reminding the government that there were policies that were recorded.
"The issue was what happened with the implementation of the correct policies?"
He said the fact "that the minority white were in control was not a surprise".
"As the youth, for you to ask what has since happened is correct. If nothing has happened ... what then do we need to do to implement these policies?"
Zuma told the more than 2,000 people that some could say the ANC had done a lot in the last 22 years to transform society and some would differ.
"We reiterate that the political freedom gained in 1994 is not complete without the attainment of economic freedom," Zuma said.