Đemal Memagić, a member of the Party of Democratic Action (SDA), has been the mayor of Olovo since 2012. It was already clear before the 2024 local elections that he would secure a fourth term, as he was the only candidate for the position.
In 2021, Memagić purchased an apartment in Poreč for just over half a million BAM. Along with his new property, in the asset declaration he submitted to the Central Election Commission of Bosnia and Herzegovina (CIKBiH) in 2024, he reported owning a car for the first time since becoming mayor of Olovo. He paid 412,000 BAM for it.
“Maybach, Mercedes… it turns people’s heads. Especially the youth’s”, said Memagić to CIN reporters.
Memagić claims to have bought the apartment and car after selling a department store in Olovo to the Bingo company for 2.2 million BAM. He owns a house and two vacation homes in Olovo, which he estimates are worth 350,000 BAM.
He also reported owning an apartment in Bosnia and Herzegovina, valued at 40,000 BAM, located in Vareš. In 2018, he bought an apartment in Sarajevo for 160,000 BAKM, but he did not list it in his asset declarations.
“I don’t know if I mentioned it or not, but I do have an apartment”, said Memagić.
He also owns several plots of land totaling around 30,000 square meters, but he did not include them in his most recent declaration. He has not accurately reported his land holdings in the past either. He says he thought it wasn’t necessary to list the inheritance from his father, although he purchased a small portion of this land.
“Well, there’s this standard land, which is considered part of the vacation home. Of course, there’s also the land inherited from my father. But those have negligible value”, he explains.
He reported to the CEC that he has 668,250 BAM in savings. He valued his company at 42.3 million BAM. His total reported income for 2024 was 2.7 million BAM. The majority of this comes from his company’s profit, while his annual salary is just over 57,000 BAM.
Memagić says he gives away his salary because he wouldn’t feel right taking it, given everything he owns: “I’ve helped students, built houses for people, bought books and gift packages for children, and bought cows for people.”
His wife, Almasa, owns an apartment in Sarajevo, valued at 160,000 BAM. Her annual income is around 150,000 BAM.
Memagić also reported the assets of his son, Rasim, and daughter, Sedina Hasković, to the CEC: “I don’t think it’s got anything to do with me, especially since they each have 20 years of work experience. They should be able to afford an apartment and a car.”
Rasim Memagić owns an apartment in Sarajevo, which he bought for 733,555 BAM. The mayor’s son also owns an apartment in Olovo, as well as half a house and land in Buna, near Mostar.
“My son is the executive manager; he has his salary, asset declaration, earnings, and dividends, after all. Nothing is hidden. So, we won’t mix things up and suggest that I give something to my son outside of reason. Everything is clear when the dividends are distributed—how much goes to my son, how much to my daughter, how much to me, and how much to my wife”, said the mayor of Olovo.
His daughter, Sedina Hasković, owns an apartment in Sarajevo, which she bought for around 400,000 BAM.
Several properties in Olovo, Visoko, Vareš, and Banovići are owned by the company Alma-Ras. Memagić says he reports the value of these properties as part of the total value of the company.
Businesses and Politics
Memagić, a trained painter and tailor, worked before the war at the company OLA in Olovo, the municipal utility company in Olovo, and the company Alhos in Sarajevo. He also ran his own painting business.
After the war, he founded the company Alma-Ras in Olovo, investing over 20 million BAM. Today, the company employs around 1,300 people. In addition to its headquarters in Olovske Luke, the company has production facilities in Srebrenica, Visoko, Banovići, and Careva Ćuprija, with boutiques located throughout Bosnia and Herzegovina and the region. The company’s profit in 2023 was 3.1 million BAM.
He has been a member of the SDA since 2010. He is the president of the party in Olovo and was previously a member of the Main Board. In the 2022 general elections, he was elected to the House of Representatives of the Federation of Bosnia and Herzegovina Parliament but chose to forgo the mandate: “I realized there was no reason to be in the opposition.”
Citizens can find more information about Mayor Memagić’s career and assets in CIN’s database titled “Politicians’ Assets”.
This unique database offers detailed information on the careers, education, assets, legal proceedings, and party affiliations of around 230 politicians and public officials. Since 2009, CIN journalists have been collecting data and continuously updating the database with new profiles. The database includes profiles of politicians currently in office, as well as those who have concluded their political careers.
