The African Development Bank (AfDB), in collaboration with the Government of Angola and the European Union, has unveiled a $125 million initiative to boost youth entrepreneurship and job creation across the country.
Named the Crescer Project, the programme is expected to create over 149,000 jobs, including 37,000 direct positions, and support more than 10,000 MSMEs and startups. It will also enhance young people’s skills in priority sectors such as agriculture, aquaculture, renewable energy, and transport.
Speaking at the launch in Luanda, Minister of Planning Victor Hugo Guilherme said the project aligns with Angola’s Vision 2050 and National Development Plan (PDN 2023–2027), emphasizing its role in achieving the UN Sustainable Development Goals (SDGs) through decent work and inclusive growth.
“The Crescer Project is a major step in empowering young Angolans to lead national development. It represents an investment in innovation, skills and productivity,” Guilherme noted.
AfDB Executive Director Eugénio Maria Paulo highlighted that placing youth at the heart of the initiative signals the government’s dedication to building Angola’s future through innovation and local enterprise growth, particularly along the Lobito Corridor.
The project’s funding will come from:
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AfDB: $79.08 million
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Government of Angola: $29.06 million
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European Union: $16.08 million
Structured around skills development, business acceleration, and policy support, the project aims to train nearly 100,000 youths in digital technology, logistics, and climate-smart agriculture. Around 380 MSMEs and 100 startups will gain access to business support and funding, with $15 million earmarked for youth-led enterprises — half of the beneficiaries being women.
With youth unemployment above 30%, the Crescer Project is part of Angola’s broader strategy to diversify its economy, reduce dependence on oil, and formalise informal businesses.
The AfDB currently manages 16 active projects in Angola worth $1.45 billion, continuing its four-decade partnership focused on energy, agriculture, finance, and social development. The Crescer Project will run for five years, with performance measured against the country’s diversification and employment goals.
