Report on Local Economic Development in Accra, Ghana

1. Problem Assessment: Accra is facing a significant problem with unemployment,

particularly among young people. This problem is exacerbated by the lack of access to
education and training opportunities, which limits the ability of individuals to acquire
the skills they need to succeed in the job market. The problem is categorized as a
social and economic problem.

2. Trade, Investment and Migration Connections: Accra is connected to the global

economy through trade, investment, and migration. The city is a major hub for trade in
West Africa, with connections to other countries in the region, as well as to Europe and
Asia. The city has also attracted significant foreign investment in recent years,
particularly in the areas of real estate and infrastructure. Migration is also a significant
factor, with many people from other parts of Ghana and other countries in the region
moving to Accra in search of better economic opportunities.

3. Local Governance Condition: The local government in Accra is responsible for

managing the city's economic development. The government has implemented several
policies and initiatives aimed at promoting economic growth and job creation in the city.
However, there are concerns about corruption and inefficiency in the government,
which may hinder the effectiveness of these initiatives.

4. Competitiveness: According to the World Economic Forum's Global Competitiveness

Report, Ghana ranks 111th out of 141 countries in terms of competitiveness. The report
cites several factors that contribute to this low ranking, including inadequate
infrastructure, poor access to finance, and low levels of education and skills among the
workforce.

5. Characterization of Entrepreneurs: Entrepreneurs in Accra are typically small-scale

business owners, operating in the informal sector. They face significant challenges,
including limited access to finance, inadequate infrastructure, and a lack of supportive
policies and regulations.

6. Actual and Potential for Collective Action: There is significant potential for collective
action in Accra, particularly among entrepreneurs and other stakeholders in the local
economy. However, there are also significant barriers to collective action, including
limited resources, a lack of trust among stakeholders, and a lack of clarity around the
goals and objectives of collective action initiatives.

7. Main Problem: The main problem that would trigger an LED initiative in Accra is the
high rate of unemployment, particularly among young people.
8. Key Actors: The key actors in an LED initiative in Accra would be the local
government, entrepreneurs, civil society organizations, and international development
agencies. These actors have the capacity to lead and launch an initiative, and they can
bring together

9. Possible LED Strategies: There are several strategies that could be used to address
the problem of unemployment in Accra. These include promoting entrepreneurship and
small business development, investing in education and training programs, improving
infrastructure and access to finance, and creating supportive policies and regulations
for businesses.

10. Potential Risks: There are several potential risks associated with LED initiatives in
Accra. These include corruption and inefficiency in the government, a lack of resources
and funding, and a lack of trust and cooperation among stakeholders. However, with
careful planning and implementation, these risks can be mitigated, and the potential
benefits of LED initiatives can be realized.