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Score Group is one of the most dynamic firms in terms of investments in Angola, having a presence in media, real estate, hotels and finance. The chief executive of the company, Domingos Vunge, explains how the company started and the direction they hope to take in the future.
“Score Group was set up out of the initiative of four youngsters interested in launching a business magazine: Estrategia,” he says. “The magazine was set up and within a few forums that we organized we thought we should have a longer range in the media business, so we moved to something that would serve as a complement—newspaper, then radio and later television—but always in the niche of finance and economics because that was the segment where there was a gap.
Because of the history of Angola, managers, entrepreneurs, academics and even politicians need a media tool targeted to economics and finances, to introduce best financial practices, solid economic information and business language in our media.”
Seeking further growth, Score went on to dip its toes in to many other economic sectors. “After serious thought, we decided to get an international partner to help us get into other businesses, particularly in food distribution, hotels, tourism, and real estate. We evolved into a holding company that manages all segments. With the support of McKinsey we built a strategic plan being right now implemented, which is today the guideline of Score Group,” says Mr Vunge.
Even though the crisis hit the real estate market, Score is very clear on its investment policy. “Our policy regarding real estate is very defined. Occasionally we do some real estate promotion. We now have four projects that, due to the crisis, had stopped but will resume shortly. Our real estate segment is more to monitor the business in the hotels and food distribution segments, and therefore not something to be developed on a large scale,” says Mr Vunge.
Looking ahead to the future, the Score Group plans to take advantage of the stock exchange (BVDA) and position itself as the first in the media industry.
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