University–industry partnerships (UIPs) play a critical role in strengthening innovation systems and socioeconomic development, yet evidence on how these partnerships have evolved in post-apartheid South Africa remains fragmented. This qualitative systematic literature review synthesises four decades of research on South African UIPs to examine publication trends, theoretical frameworks, methodologies, institutional characteristics, and the role of boundary spanning. Following the PRISMA 2020 protocol, five academic databases were systematically searched, complemented by Google Scholar snowballing. From 12,257 records, 52 data sources met the inclusion criteria after screening. The findings show a shift from descriptive accounts of collaboration to innovation- and policy-oriented research. The Triple Helix and National Innovation System remain the dominant theoretical perspectives, while qualitative case studies predominate. Historically advantaged universities continue to dominate research-intensive partnerships, reflecting persistent institutional inequalities, and boundary-spanning roles are widely recognised despite the absence of explicit application of Boundary-Spanning Theory. The review further demonstrates that prevailing Northern innovation frameworks inadequately capture the historical and institutional realities of South Africa. It concludes that a localised, decolonial boundary-spanning framework offers a stronger basis for understanding collaboration across unequal institutional contexts and provides practical directions for policy, theory, and future research to support a more inclusive national innovation system.