Luanda: The Angolan government's "Grow Project," launched on Monday in Luanda, aims to create 37,430 direct jobs and 112,290 indirect jobs for young people aged 15 to 35. The plan, valued at US$124 million, intends to equip 97,569 young people with digital skills and capabilities in the areas of agriculture and transportation.
According to Angola Press News Agency, the project aims to develop the entrepreneurial fabric and skills for youth employability. It also ensures the acceleration of the development of 10,400 active micro, small, and medium-sized enterprises, as well as strengthening the capacity of 40 business support organizations.
The project began implementation in the provinces of Luanda, Hula, Huambo, Benguela, Cabinda, Cuanza-Sul, Bi©, Malanje, Icolo and Bengo, Moxico, and Moxico Leste. It also aims to improve infrastructure and digital connectivity, as well as strengthen institutional capacities and the business environment in Angola.
Funding for this platform will be divided into three parts: US$79 million will come from a loan from the African Development Bank, while the Angolan government will contribute US$29 million and the European Union will contribute US$16 million.
According to the Minister of Planning, Victor Hugo Guilherme, who presided over the plan's launch, the main objective of the "Grow Project" is to boost youth entrepreneurship, facilitate access to credit for small and medium-sized enterprises and startups, and promote youth training in areas such as agriculture, transportation, and technology.
In turn, Pietro Toigo, the resident representative of the African Development Bank for Angola and So Tom© and Prncipe, stated that the financial institution's involvement in this project is the result of a partnership with the Angolan government. It will involve mentoring, business literacy, legal support, and access to financing.
