Foreign funding of R&D in South Africa: a growing potential

Key Points

South Africa's R&D investment is currently just 0.62% of GDP, revealing a significant gap in needed funding.
Economic recovery following COVID-19 has amplified the urgency for increased R&D investment in the nation.
The National Development Plan aims for 1.5% of GDP to be spent on R&D, outlining a clear funding target.
Social unrest and economic challenges underline the need for immediate investment in scientific research for recovery.

Abstract

As part of its National Development Plan, South Africa has set a target of spending 1.5% of its gross domestic product on scientific and technological research and experimental development (R&D). Achieving this goal requires a significant increase in R&D investment, which currently stands at 0.62% for 2019/20. This comes as the economy is recovering from a recession, affected by the crippling COVID-19 pandemic and the measures to contain it, as well as the social unrest and protests of July 2021. Funding for R&D in South Africa must be increased urgently.

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