The African Development Bank (AfDB), in partnership with the Government of Angola and the European Union, has launched the $125 million Youth Employment Project (Crescer Project) to promote entrepreneurship, job creation, and skills development among young Angolans.
The initiative aims to create over 149,000 jobs — including 37,000 direct and 112,000 indirect — while supporting 10,400 micro, small, and medium enterprises (MSMEs) and 97 startups. It will also provide training in digital technology, agriculture, transport, and renewable energy, with at least 50% of beneficiaries being women.
The project will be financed through contributions from the AfDB ($79 million), the Angolan Government ($29 million), and the European Union ($16 million).
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Speaking at the launch, Eugénio Maria Paulo, AfDB’s Executive Director for Angola, Mozambique, Namibia, and Zimbabwe, commended Angola’s commitment to empowering youth.
“By placing young people at the center of national development, the government is investing in Angola’s future,” he said.
Minister of Planning Victor Hugo Guilherme noted that the project aligns with the country’s “Angola Vision 2050” and “PDN 2023–2027” strategies, supporting national development and the UN Sustainable Development Goals (SDGs).
The Crescer Project will focus on three areas: skills development, business acceleration, and access to finance, while also strengthening public-private partnerships and institutional capacity.
This initiative complements ongoing AfDB-backed projects, including the Science and Technology Park, which is expected to be completed by November 2025 to drive innovation and economic diversification.
The African Development Bank currently manages 16 active projects in Angola, valued at $1.45 billion, spanning energy, water, agriculture, transport, and finance sectors.
