The role of science and innovation to Africa’s growth

Science, innovation, and technology are vital components for the development of a country's economy. Recently, the Department of Science and Technology, in collaboration with the National Advisory Council on Innovation, hosted a symposium to explore how South Africa compares to global standards in fostering an environment conducive to innovation. In a discussion with Dr. Azar Jammine, Director and Chief Economist of Econometrix, we delved into the intricate link between innovation and economic growth. The symposium shed light on critical indicators that reflect the landscape for innovation in South Africa. An encouraging aspect highlighted was the country's robust output in academic publications relative to its economic size compared to other nations. However, the challenge lies in translating this academic prowess into tangible innovative outcomes. It raises concerns about the effectiveness of the educational system and whether it aligns with the needs of the economy. On the flip side, while research and development activities in universities have shown improvement, there has been a decline in the business sector. This disconnect between academia and industry could inhibit the implementation of advanced educational achievements in the practical economy. Additionally, the prevailing lack of business confidence in South Africa poses a significant barrier to innovation. Despite a surge in patent registrations by non-resident multinational corporations, signaling their active presence in the country, the dwindling foreign direct investment levels compared to other African nations raise apprehensions about sustainability. For the ordinary South African, the relevance of these indicators lies in emphasizing the pivotal role of education and skills in bridging innovation with economic growth. The nation faces a crucial need to enhance educational standards, particularly in mathematics, science, and technology, to nurture a skilled workforce capable of driving innovation. Despite the widespread adoption of mobile technology and the internet in South Africa, the translation of these advancements into tangible innovation remains a challenge. The country excels in technology penetration but falls short in harnessing it for innovative outcomes. A fundamental solution posited is a national push to instill an entrepreneurial mindset, urging individuals to venture into creating small businesses as a pathway to self-sustainability instead of relying solely on government or corporate employment. Dr. Azar Jammine's insights underscore the necessity for individuals to take charge of their economic destinies and lead the way towards self-reliance and innovation.