John Adoyi, PBA Journalism Mentee
The African Development Bank (AfDB), in partnership with the Government of Angola and European Union (EU), has launched a 125 million dollar Youth Employment Project known as the Crescer Project to boost entrepreneurship and create jobs for young people across Angola.
The initiative aims to create nearly 150,000 jobs, including 37,430 direct and about 112,290 indirect, while training more than 97,000 young people in digital technology, agriculture, transportation and renewable energy. It also plans to support over 10,000 micro, small and medium-sized enterprises (MSMEs) and startups.
The project comes as Angola faces a youth unemployment rate of 52.7 percent, one of the highest in sub-Saharan Africa, according to recent government data.
Speaking at the launch in Luanda, Minister of Planning Victor Hugo Guilherme said the Crescer Project aligns with the government’s long-term development blueprint, Angola Vision 2050, and the National Development Plan (PDN 2023–2027). He described it as a key step toward achieving the Sustainable Development Goals and promoting inclusive growth.
“This project strengthens our commitment to sustainable economic diversification by empowering young people and creating the right conditions for entrepreneurship to thrive,” Guilherme said.
Eugénio Maria Paulo, AfDB’s Executive Director for Angola, Mozambique, Namibia and Zimbabwe, commended Angola’s government for prioritizing youth in national development.
“We commend the Angolan government for taking such a decisive step toward investing in young people,” Paulo said. “By placing youth at the center of national development, the government sends a powerful message that young people will build Angola’s future.”
He added that supporting startups and MSMEs along the Lobito Corridor will help stimulate local economies and reduce rural to urban migration.
The 125 million dollar project will be co-financed by AfDB with 79.08 million dollars, the Angolan Government with 29.06 million dollars, and the European Union with 16.08 million dollars. At least half of its beneficiaries will be women.
According to AfDB, the project will strengthen Angola’s national planning system, expand public-private partnerships and enhance public investment to drive economic growth. It will also inject up to 15 million dollars to improve access to finance for small businesses and startups, and provide business development services to nearly 500 enterprises.
The Crescer Project comprises three main components: demand-driven skills development, business acceleration and access to finance, and strengthening institutional capacity for an enabling business environment.
It builds on the government’s ongoing efforts to formalize the economy through the Program to Support Production, Diversification of Exports and Substitution of Imports. The project also complements the AfDB-backed Science and Technology Park, scheduled for completion in November 2025, which aims to promote innovation and provide scholarships in scientific and technological fields.
Since beginning operations in Angola in 1980, AfDB has approved cumulative loan and grant commitments totaling 3.36 billion dollars. Its current portfolio in the country covers energy, water and sanitation, transportation, agriculture, finance, social development and environmental sustainability.
Angola, where more than 44 percent of the population is under 15, faces one of the toughest employment challenges in Africa. The overall unemployment rate stood at 28.8 percent in mid-2025, with youth unemployment exceeding 50 percent. The Crescer Project is part of broader efforts to harness this young population for sustainable economic growth.
John Adoyi, PBA Journalism Mentee
- John Adoyi, PBA Journalism Mentee
- John Adoyi, PBA Journalism Mentee
- John Adoyi, PBA Journalism Mentee
- John Adoyi, PBA Journalism Mentee
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- John Adoyi, PBA Journalism Mentee
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- John Adoyi, PBA Journalism Mentee
