Martin Adjei-Mensah Korsah, the Minister of Local Government, Decentralization and Rural Development, has urged the Metropolitan Municipal and District Assemblies (MMDAs) to streamline and implement the new Local Economic Development (LED) Policy and initiatives at the MMDA level.

That would create economic opportunities aimed at reducing poverty and promoting inclusive growth.

Mr Korsah said the MMDAs were responsible for formulating and executing plans, programmes, and strategies for the effective organisation of resources for local development.

“They are also mandated to monitor the execution of all development projects under approved development plans as well as assess and evaluate their impacts on the standard of living of their people,” he added.

The Minister was speaking at the launch of the Five-year LED Policy and Implementation Plan (2024-2029) at Ogbojo in Accra.

The overall policy goal is to create an enabling environment for sustained business growth, decent jobs creation and inclusive income growth during the policy implementation period.

The event was intended to unveil a blueprint that would pave the way to promote local economic development through the 261 MMDAs.

Mr Korsah said LED had become a crucial global strategy for economic planning, and over time, it had been recognised as a key role for local governments, focusing on creating conditions that effectively used local resources to drive economic growth.

“Our actions today align with Target 3 of SDG 8, which aims to support development policies that boost productive activities, create decent jobs, foster entrepreneurship and innovation, and promote the growth of micro, small, and medium-sized enterprises by improving access to financial services,” he added.

He said the new policy cycle took cognisance of the African Union Agenda 2063, as the overarching strategic framework for Africa, which is : “A global strategy to optimise the use of Africa’s resources for the benefit of all Africans, with clearly outlined targets.”

He said the vision was to be self-sufficient to be able to fully harness and utilise local resources for development and contribute to achieving the aspiration of the agenda 2063.

The Minister said the implementation of the 2020 LED Policy faced a few implementation challenges including limited understanding of the concept, diverse interests and perspectives of stakeholders, and poor leadership, especially at the MMDA level, to drive LED initiatives.

The 2024 Policy proffered objectives, strategies and actions that were tailored to address these issues, and that it was hinged on inclusivity, geared towards improved economic governance.

Mr Korsah said the Ministry had also reviewed the Practitioners Manual’s that provided a step-by-step approach to LED implementation for MMDAs and practitioners.

He encouraged all MMDAs to make use of the Manual to better plan, implement, monitor and evaluate LED initiatives.

Mr Daniel Nii Kwartei Titus-Glover, the Greater Accra Regional Minister, said the launch marked a significant milestone in their collective journey towards fostering sustainable local economic growth and empowerment across the nation.

He said the MLGDRD had been at the forefront of developing policies that galvanised and stimulated citizens to engage in entrepreneurial ventures to improve Local Government Service Delivery System.

The Minister said the LED Policy was a testament to the Ministry’s commitment to creating an enabling environment for micro, small, and medium enterprises to thrive.

He said since the inception of the LED Policy in 2013 and its subsequent review in 2020, they had recognised both the progress made and challenges faced in implementing those policies.

With those new key objectives, the policy would build capacity, strengthen institutional structures, and provide the necessary support for local economic development, Mr Titus-Glover said.

He said it should not just be seen as a policy but a call to action for all stakeholders to collaborate, innovate, and work together for the betterment of the communities.

The Minister urged all stakeholders, especially MMDCE’s, to embrace the LED Policy and Implementation Plan with the seriousness it deserved.