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Rashad Naqaweh (Arabic: رشاد نقاوة; born 21 May 1967) is a Syrian businessman, based in Damascus, Syrian Arab Republic since 2007. He is a shareholder of Gafo Group, a multi-disciplinary family holding company started in 1953. Today he is engaged in an array of business activities in 15 countries with products and services distributed worldwide.
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Personal life
Born in Damascus in 1967, Naqaweh achieved a Medicine doctor degree in 1992 before working as an active member within his family's legacy, subsequently leading the companies to international success. Rashad Naqaweh and his family were included in TheNewArab news article, in which he and his family were stated to be worth £217m. He currently resides in Damascus, Syrian Arab Republic, while traveling back and forth to manage the family businesses throughout the Middle East, Africa, and Europe.
Business career
In 1992, he took over Genz Holdings Limited which sells pharmaceuticals, canned-foodstuff and commodities to the Syrian market, gaving him his first role of taking over his father's fortune. In 2007, his family incorporated GAFO. Their first project was an establishment of a geothermal plant in the Comoros Islands worth 120 million euros. After that, Naqaweh started aiming toward expanding further, and his business career today includes telecommunications, energy, construction, food import & export, and pharmaceuticals.
Today there are eight different companies with Gafo group, each diversified in a different market segment. Gafo Group today has revenues and assets worth over 150 million euros worldwide.
The group ranges as follows:
Gafo Construct is involved in the construction business. Larger scale constructions require more human capital, multitasking, resources, management, design, etc. Therefore, they have been diversified into three main categories of concrete, asphalt and water purification plants.
Gafo Air is a domestic, international airline carrier connecting the African continent.
Gafo Telecom provides services throughout the telecom industry and owns shares in existing telecom companies. Comores Telecom.
Gafo Foods specializes in franchising food chains and erection of new restaurants, with wide catering experience.
Gafo Beity specializes in food stuff imports and exports of the Beity brand worldwide.
Gafo Pro supplies and manufactures pharmaceuticals and medical equipment.
Springy Water manufactures bottled water.
Gafo Energy was founded to establish different types of energy projects, such as geothermal energy plants, and conducting deep surveys to make this entity one of the leaders in the energy sector in Africa.