Coup leaders in Mali say a transitional president will be appointed, drawn from either the civilian population or the military.
Ibrahim Boubacar Keïta was removed in a coup on Tuesday.
West African leaders have called for him to be reinstated and the UN has called for the release of officials.
But the coup leaders say they are in contact with the political opposition and other groups to try to set the transition in place.
They say elections will be held in what they describe as reasonable time and have also promised to respect international agreements on fighting jihadists.
Earlier on Thursday, the Economic Community of West African States (Ecowas) said it would send envoys to ensure the return of constitutional order.
There is an increased military presence outside government ministries in the capital, Bamako, but shops and businesses have been open.
Mali, a vast country stretching into the Sahara Desert, is among the poorest in the world and has experienced several military takeovers. It is currently battling to contain a wave of jihadist attacks and ethnic violence.
Mr. Keïta won a second term in elections in 2018, but since June has faced huge street protests over corruption, mismanagement of the economy and disputed legislative elections.
There has also been anger among troops about pay and the conflict with jihadists.
“We are in contact with civil society, opposition parties, the majority, everyone, to try to set the transition in place.”
The transition will happen “as quickly as possible”, he added.
The soldiers who seized power in Mali say they are in talks with the political opposition and other groups to try to set a transition in place.
Despite strong calls from regional and international powers for the reinstatement of the ousted president Ibrahim Boubacar Keita, the leaders of the coup and Mali’s domestic opposition have other ideas.
They want an authority that can fight corruption, revive the economy, and bring an end to ethnic and jihadist violence.
It is a tall order, given that multiple international and regional interventions have been unable to resolve the country’s many crises
