By Ayomide Otitoju
The African Development Bank (AfDB), in partnership with the Government of Angola and the European Union (EU), has launched the $125 million Crescer Project—a major youth employment and entrepreneurship initiative designed to create over 149,000 jobs and strengthen Angola’s economic diversification efforts.
The project aims to generate 37,430 direct and 112,290 indirect jobs, while supporting more than 10,000 micro, small, and medium-sized enterprises (MSMEs) and startups across key sectors including agriculture, aquaculture, transport, and renewable energy.
Funded by the AfDB ($79.08 million), the Angolan government ($29.06 million), and the EU ($16.08 million), Crescer aligns with Angola’s Vision 2050 and the National Development Plan (PDN 2023–2027), contributing to the UN Sustainable Development Goals (SDGs).
Minister of Planning Victor Hugo Guilherme said the initiative reflects Angola’s strategic push to empower its youth as agents of growth. AfDB Executive Director Eugénio Maria Paulo commended the government’s commitment, noting that the project “places youth at the center of national development” and supports MSMEs along the Lobito Corridor, stimulating local economies and reducing rural-urban migration.
The project’s components include demand-driven skills development, business acceleration, improved access to finance, and institutional capacity building. It targets training for nearly 98,000 young people in areas such as digital technology and climate-smart agriculture, with at least 50% of beneficiaries being women.
Crescer also complements the ongoing Science and Technology Park project—another AfDB-Angola partnership promoting economic diversification through innovation and research, slated for completion in November 2025.
The AfDB currently manages 16 active projects in Angola worth $1.45 billion, spanning energy, water, transport, agriculture, finance, and social development. Since 1980, the Bank’s total commitments to Angola have reached $3.36 billion.
