South African national survey of research and experimental development: business sector R&D at a glance 2021/22. Fact sheet 53

R&D activity in the business sector is essential to South Africa's national system of innovation (NSI) and a major driver of the economy. For several years, a decline in R&D investment by business has been observed, attributable to overall weak economic performance with the Covid-19 pandemic marking a low point. However, economic revival post-Covid-19 went hand-in-hand with increased R&D expenditure, notably in manufacturing and finance. Major investment in the information, computer and communication technology and medical and health fields also boosted R&D performance in the business sector by R2.431 billion.