It was established on 1 April 1999 as an autonomous statutory body in accordance with the National Research Foundation Act.

Dr Fulufhelo Nelwamondo has been appointed as Chief Executive Officer of the National Research Foundation of South Africa with effect from 1 April 2021.

[1][2] The NRF has three main functions: One of the NRF’s key objectives is to ensure appropriately qualified people and high-level infrastructure to produce the knowledge that makes South Africa a global competitor.

Its "focus areas" are: Unlike other Science Councils whose role is research performance, the NRF primarily fulfils an agency role, with a smaller portion of its activity allocated to actual research.

Funding from the NRF is largely directed towards academic research, developing high-level human resources, and supporting the National Research Facilities, although beneficiaries include students, and private individuals or companies.