Business
Angola launches $125M crescer project to create 150,000 youth jobs
In a landmark move to tackle youth unemployment and stimulate entrepreneurship, the African Development Bank (AfDB), the Government of Angola, and the European Union have launched the $125 million Crescer Project. The initiative aims to create nearly 150,000 jobs—37,000 direct and 112,000 indirect—while supporting over 10,000 micro, small, and medium-sized enterprises (MSMEs) and startups.
The project will train more than 98,000 young Angolans in high-impact sectors including:
– Digital technologies
– Climate-smart agriculture
– Transport and logistics
This skills development push aligns with Angola’s Vision 2050 and the PDN 2023–2027 national development plan.
Half of the project’s beneficiaries will be women, with $15 million earmarked for financial inclusion programs. These efforts aim to reduce barriers for women-led businesses and expand access to capital and digital financial services.
AfDB Executive Director Eugénio Maria Paulo praised Angola’s leadership
“By placing youth at the center of national development, the government sends a powerful message: young people will build Angola’s future”.
The Crescer Project builds on previous government efforts to formalize informal businesses, diversify exports, and promote inclusive growth.
