The Festival, which is the seventh to be held, would take place from August 14 to 20 at James Town.
It is being organised by Accra Dot Alternative, an independent cultural network that promotes the alternative works of artistes.
The Chale Wote Street Art Festival is an alternative platform that brings art, music, dance and performance out onto the streets.
Mr Mohammed Adjei Sowah, the Accra Metropolitan Chief Executive, who signed the MoU and launched the Festival, urged the youth to take advantage of the event to unearth their talents and promote tourism in Accra.
He said the AMA was committed to harnessing the talents of the youth and empowering them to transform their lives, hence the support.
Mr Sowah advised the people to embrace the programme to showcase their rich culture to uplift the face of Ga Mashie and bring investors into the area.
He commended the organisers of the programme to bring the city of Accra alive.
Nii Mantse Aryeequaye, the Director of Accra Dot Alternative, speaking to the Ghana News Agency, said they were expecting artists from 15 countries in Africa to participate in the Festival.
He expressed gratitude to the AMA for its support to promote the cultural heritage of the people of Ga Mashie and said they were looking forward to a successful and peaceful programme.