Newly appointed Minister of Science and Technology, Mmamoloko Kubayi-Ngubane will meet the business sector in Pretoria on Friday, 2 March, in her first appearance as the Minister in this portfolio.

 

The seminar will be attended by R&D managers, finance and tax executives of R&D performing companies, and tax consultants that assist companies to access the incentive.

 

Government established the research and development (R&D) tax incentive programme in 2006 as an instrument to stimulate private sector investment in R&D and innovation in South Africa.

 

Tomorrow’s event will focus on the progress made in improving tax incentive programme, following recommendations made by a task team established to address bottlenecks experienced by businesses accessing the incentive.

 

Administrative delays, the complexity of information, and limited access for small and medium enterprises and start-ups were among the problems encountered.

 

By undertaking R&D, companies enhance their innovative capabilities, and are better able to create new products, processes and services, and to improve existing ones.

 

The latest data indicates that general expenditure on R&D as a percentage of GDP, which is a key indicator of R&D intensity in the economy, was 0,80% in 2015/16.  The South African government wants to raise this to 1,5% of GDP.  Increasing R&D will improve the country's economic competitiveness.

 

The media are invited as follows:

 

Venue: The Innovation Hub, Pretoria

Date: 2 March 2018

Time: 07:30 – 10:00

 

For media enquiries, contact Veronica Mohapeloa at 083 400 5750 or This email address is being protected from spambots. You need JavaScript enabled to view it..