Amanda Mphahlele
Abstract
South Africa has faced substantial challenges due to natural disasters, impacting specific regions and their economies. This has underscored the critical need for effective Local Economic Development (LED) strategies. LED research, although still a relatively new field, is characterised by evolving policies, strategies, and implementation plans, and is complicated by numerous uncertainties. Given these complexities, the aim of this research was to conduct a comprehensive literature review to investigate effective strategies that governments can employ to attract investment and promote the growth of local economies. It also seeks to examine the challenges associated with the successful implementation of LED initiatives in South Africa, intending to develop a conceptual framework for LED strategies that could promote investment and economic growth. The findings revealed several challenges, including undercapitalisation, politicisation, and conflicting objectives. Furthermore, the identified strategies include governance, enterprise support, and overall local development. It is concluded that the findings of this research are pertinent to policymakers and community development specialists engaged in initiatives that provide job training, offer small business support, and seek to attract investments to drive economic expansion.