Mr Mbeki said he would not cut power supplies to Zimbabwe
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South African President Thabo Mbeki says he wants to promote a compromise between rival factions in Zimbabwe but will not push for regime change.
Mr Mbeki told the UK's Financial Times that there was no big stick available to change the government in Harare.
Zimbabwean unions have called a two-day strike in protest at the worsening economic crisis in the country.
The capital is slightly quieter than usual, but many workers cannot afford to lose pay and are going to work.
Southern African leaders last week appointed Mr Mbeki to mediate between Mr Mugabe and the opposition.
'Only solution'
Zimbabwe's main trade union, the Congress of Trades Unions (ZCTU), says it called the general strike for Tuesday and Wednesday over the government's failure to respond to the economic meltdown.
More than 80% of Zimbabweans live in poverty and inflation is running at more than 1,700% - the highest in the world.
"This ... is the only solution to make sure that the authorities should come back to the negotiating table," ZCTU president Lovemore Matombo said. "We are quite aware of what the government is likely to do."
There has been an increased security force presence on the streets of the capital, and in particular in the high density suburbs.
Police spokesman Wayne Bvudzijena said the elite National Reaction Force would be deployed against those who threaten the government.
"The police will be on the lookout for people who commit such offences and when arrested they should not cry foul," he said.
Labour Minister Nicholas Goche dismissed the protests as western-backed "violence aimed at regime change".
No sanctions
Mr Mbeki said there was a need to tackle Zimbabwe's elections.
"President Mugabe and the leadership of Zanu-PF believe they are running a democratic country.
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I'm as vulnerable as any other Zimbabwean
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"You might question whether these elections are genuinely free and fair... but we have to get the Zimbabweans talking so we do have elections that are free and fair."
Mr Mbeki said he thought Mr Mugabe could renounce power peacefully but ruled out sanctions, saying actions such as cutting power supplies would only cause more suffering.
Activists beaten
Mr Mugabe's government has been increasingly criticised for its treatment of the opposition Movement for Democratic Change (MDC) party.
On Saturday, MDC leader Morgan Tsvangirai said nine members of his party had been badly beaten up in custody after being arrested last week.
Mr Tsvangirai, on a trip to Johannesburg for medical treatment, called on South Africa's leader to act quickly and decisively to halt political violence in his country.
"I cannot put a wall around me," Mr Tsvangirai said. "I'm as vulnerable as any other Zimbabwean."
Last week, Zanu-PF announced that Mr Mugabe would be its candidate in next year's election.
The poll would allow the president to say in power until 2013, when Mr Mugabe would be nearly 90.