Business share of South Africa’s R&D funding falls to 29%

South African businesses funded only 29% of the country's research and development (R&D) in 2022/23, down from 41% in 2013/14. A ministerial working group warned that current incentives have failed to attract sufficient private-sector investment. Government funding increased from 43% to 51%, and international sources from 13% to 17%, while business sector R&D expenditure declined from 46% to 36%. The report emphasizes the importance of stronger domestic investment to boost innovation, industrial growth, and employment, especially after US funding cuts threatened major research programs.