The African Development Bank (AfDB), in partnership with the Government of Angola and the European Union, has launched the Youth Employment Project (Crescer Project). The initiative aims to stimulate entrepreneurship and job creation among Angola’s youth.
Valued at $125 million, the project will create over 112,000 indirect jobs, support the growth of more than 10,000 micro, small, and medium-sized enterprises (MSMEs) and start-ups, and expand skills development in key sectors including agriculture, aquaculture, transport, and renewable energy.
Minister of Planning Victor Hugo Guilherme emphasized the project’s strategic alignment with "Vision Angola 2050” and the National Development Plan 2023–2027, which contribute to the achievement of the Sustainable Development Goals (SDGs).
Speaking at the launch, Eugénio Maria Paulo, AfDB Executive Director for Angola, Mozambique, Namibia, and Zimbabwe, commended the government’s commitment to youth empowerment.
"We congratulate the Angolan government for taking such a decisive step toward investing in its youth. By placing young people at the heart of national development, the government sends a powerful message — that it is the youth who are building Angola’s future,” he said, adding that supporting MSMEs and youth-led start-ups along the Lobito Corridor stimulates local economies and helps reduce rural exodus.
The project also strengthens the national planning system, public-private partnerships, and public investment, all key drivers of economic growth. It builds on progress made through flagship government programs that promote entrepreneurship and economic formalization, including the Production Support, Export Diversification, and Import Substitution Program.
The initiative is expected to create 149,720 jobs (including 37,430 direct and about 112,290 indirect), train 97,569 young people (in digital technologies, climate-smart agriculture, and transport), and accelerate the growth of 10,400 MSMEs. It will also provide business development services to 385 MSMEs and 97 start-ups, strengthen 40 business support organizations, and inject up to $15 million to improve access to finance. At least 50% of the beneficiaries will be women.
The Crescer Project includes three key components:
Demand-driven skills development
Business acceleration and improved access to finance
An enabling environment and strengthened institutional capacity
Together, these components enhance the business ecosystem and develop the capacity of relevant institutions to deliver effective services.