In July 2013 Awash Wine was privatized, when London-based investor 8 Miles and local entrepreneur Mulugeta Tesfakiros teamed up to buy the winemaker. Since then, the company has made significant investments in equipment and marketing, as well as implementing a program aimed at reducing costs by eliminating waste. Typical inefficiencies that one would expect from government-run companies,” recalls Doug Agble, Partner at the company. “Putting capital, effort and human talent to work to resolve those inefficiencies has to date allowed the company to deliver impressive top-line growth and, at the same time, significantly improve its profitability. The priority has been to inject the team with fresh talent and motivation at every level of the organization to drive the cultural change that was required.”

- -