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

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.