Žarko Rakčević

Founder & Co-Owner, Šajo Group

Žarko Rakčević was born in Podgorica on March 27, 1961. He graduated from the Faculty of Economics in 1983 and completed his postgraduate studies in Belgrade, earning a Master’s degree in 1987.

Throughout his career, he has held numerous public positions, including Minister of Urbanism, Deputy Prime Minister for Finance, and founder and president of the Social Democratic Party (SDP) as well as the civic movement URA.

In 1991, together with his father Mirko, a civil engineer, he founded the family company Šajo d.o.o. in Podgorica.

Within the Šajo Group, the leading role is held by the tourism branch Montehos, which manages five hotels with a total of 1,150 rooms and apartments. In addition to tourism, the Šajo Group is also active in construction and wheat processing through its Monte Mlin factory.

He is married to Rena, an educator, and is the father of three children – Marija, Nikola, and Ksenija – all of whom are economists.