The African Development Bank Group (AfDB), in collaboration with the Government of Angola and the European Union, has launched the $125 million Youth Employment Project (Crescer Project) to stimulate entrepreneurship, job creation, and skills development among young Angolans. The initiative aims to generate over 112,000 indirect jobs, support the growth of more than 10,000 micro, small, and medium-sized enterprises (MSMEs) and startups, and expand vocational training in high-potential sectors such as agriculture, aquaculture, transport, and renewable energy.
During the launch event, Minister of Planning Victor Hugo Guilherme highlighted that the project aligns with Angola’s long-term national frameworks—“Angola Vision 2050” and the National Development Plan (PDN) 2023–2027—both of which support the achievement of the Sustainable Development Goals (SDGs). Eugénio Maria Paulo, the AfDB’s Executive Director for Angola, Mozambique, Namibia, and Zimbabwe, praised the government’s dedication to empowering youth, stating that “by placing youth at the center of national development, the government sends a powerful message: young people will build Angola’s future.” The project will be co-financed by the AfDB ($79.08 million), the Government of Angola ($29.06 million), and the European Union ($16.08 million).
The Crescer Project will strengthen national planning systems, public-private partnerships, and public investment mechanisms, which are crucial for long-term economic growth. It builds upon earlier government programs such as the Program to Support Production, Diversification of Exports, and Substitution of Imports, which focused on entrepreneurship and the formalization of Angola’s economy. Through this initiative, the project is expected to create 149,720 jobs—including 37,430 direct and 112,290 indirect positions—and provide training to 97,569 young people in areas like digital technology, climate-smart agriculture, and transport. Additionally, it will support 10,400 MSMEs, deliver business development services to hundreds of small enterprises and startups, enhance the capacity of 40 business support organizations, and inject $15 million to improve access to finance, with at least half of the beneficiaries being women.
Structured around three key components—skills development, business acceleration, and financial inclusion—the Crescer Project seeks to create a supportive environment for entrepreneurship by strengthening institutional capacity and improving service delivery. This initiative complements the ongoing Science and Technology Park project, another joint venture between the AfDB and the Angolan Government, aimed at driving economic diversification through innovation. The project includes the construction of a national Science and Technology Park, scheduled for completion in November 2025, and the funding of scholarships for young Angolans pursuing higher education in scientific and technological fields.
Together, these initiatives underscore the commitment of the African Development Bank and the Government of Angola to advancing youth employability, entrepreneurship, and innovation as key pillars of the country’s economic diversification strategy. The AfDB currently maintains 16 active projects in Angola, totaling $1.45 billion in investments across sectors such as energy, agriculture, water and sanitation, finance, transport, social development, and the environment. Since beginning operations in Angola in 1980, the Bank has approved cumulative loan and grant commitments amounting to $3.36 billion, reflecting its long-standing partnership with the country in promoting sustainable and inclusive growth.
