Keypoints:
- $125m Crescer youth jobs push
- MSMEs gain funding support
- Skills focus in key sectors
THE African Development Bank Group (AfDB), in partnership with the Government of Angola and the European Union, has launched a $125 million initiative to youth entrepreneurship and create jobs across the country.
Known as the Crescer Project, the programme aims to generate more than 149,000 jobs, including over 37,000 direct positions, while supporting the growth of over 10,000 micro, small and medium-sized enterprises (MSMEs) and startups. It will also strengthen young people’s skills in high-potential sectors such as agriculture, aquaculture, transport and renewable energy.
Aligning with national vision
Speaking at the launch in Luanda, Minister of Planning Victor Hugo Guilherme said the project aligns closely with Angola’s long-term development frameworks, including Vision 2050 and the National Development Plan (PDN 2023–2027).
He noted that the programme would help advance the UN Sustainable Development Goals (SDGs) by promoting decent work, gender equality and sustainable growth.
‘The Crescer Project is a major step in empowering young Angolans to lead national development,’ Guilherme said. ‘It represents an investment in innovation, skills and productivity.’
Youth at the centre of transformation
The AfDB’s Executive Director for Angola, Mozambique, Namibia and Zimbabwe, Eugénio Maria Paulo, praised the government’s focus on placing young people at the heart of development.
‘By placing youth at the centre of national development, the government sends a powerful message: that young people will build Angola’s future,’ Paulo said. ‘Supporting MSMEs and startups along the Lobito Corridor will also stimulate local economies and help curb rural-to-urban migration.’
The $125 million project is co-financed by the AfDB ($79.08 million), the Angolan government ($29.06 million) and the EU ($16.08 million).
Focused on jobs, skills and innovation
The Crescer Project is structured around three priority areas:
- Demand-driven skills development
- Business acceleration and access to finance
- Institutional capacity building and policy support
Under the initiative, nearly 100,000 young people will receive training in digital technologies, climate-smart agriculture and transport logistics. More than 380 MSMEs and 100 startups will benefit from business development services, while up to $15 million will be injected into youth-led enterprises.
At least half of all beneficiaries are expected to be women, underscoring Angola’s commitment to inclusive growth.
Addressing youth unemployment
The initiative comes as Angola works to tackle high youth unemployment, which the AfDB estimates remains above 30 percent. By strengthening enterprise capacity and improving access to finance, Crescer aims to create sustainable employment and reduce dependency on imports.
The project also builds on national efforts to formalise informal businesses and foster economic diversification beyond oil. It complements the ongoing Science and Technology Park Project, which promotes innovation and offers scholarships in science and technology disciplines for young Angolans.
AfDB’s long-term partnership
The AfDB currently manages a portfolio of 16 active projects in Angola worth $1.45bn, covering energy, agriculture, finance, water, sanitation and social development. Since beginning operations in Angola in 1980, the Bank has approved cumulative loans and grants totalling more than $3.3bn.
Implementation of the Crescer Project will be monitored over a five-year period, with progress evaluations tied to national diversification and employment targets.
