The European Union (EU), the African Development Bank Group (AfDB) and the Government of Angola have jointly launched the $125 million Crescer Project, a large-scale initiative designed to drive youth employment, entrepreneurship, and economic diversification across Angola.

The project aims to create nearly 150,000 jobs, including 37,000 direct and 112,000 indirect positions, while supporting the growth of over 10,000 micro, small, and medium-sized enterprises (MSMEs) and startups. It will also train more than 97,000 young people in sectors such as agriculture, aquaculture, transport, renewable energy, and digital technologies. It aligns closely with the country’s long-term development goals under “Angola Vision 2050” and the National Development Plan (PDN 2023–2027), both of which contribute to achieving the Sustainable Development Goals (SDGs).

The African Development Bank is contributing $79.08 million to the Crescer Project, with the Government of Angola providing $29.06 million and the European Union financing $16.08 million. It will also offer business development services to 385 MSMEs and 97 startups, and build the capacity of 40 business support organizations, with at least 50% of beneficiaries being women.

The Crescer Project comprises three key components: demand-driven skills development, business acceleration, and enhanced access to finance, along with an enabling environment and institutional capacity. Together, these elements aim to create an enabling environment for sustainable private-sector growth and innovation.

Furthermore, it complements the ongoing Science and Technology Park initiative, another partnership between the AfDB and the Angolan government, set for completion in November 2025. That project supports economic diversification through scientific research, technological innovation, and scholarship programs for young Angolans.

Currently, the AfDB’s active portfolio in Angola includes 16 operations worth $1.45 billion, spanning energy (36.4%), water and sanitation (17.08%), agriculture (14.1%), finance (20.15%), social sectors (11.63%), transport (0.17%), and environment (0.3%). 

Since 1980, the Bank has invested $3.36 billion in Angola’s development, reflecting its long-term commitment to supporting Angola’s sustainable growth and empowering its youth through entrepreneurship and innovation.

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