Sprat to catch a mackerel

When Raymond Ackerman was fired from his job in 1966, he persuaded a group of friends to loan him the money to buy three small Pick 'n Pay stores, which at the time employed a total of 175 people. On his retirement, 44 years later, he had changed the face of southern African retailing, growing his company to encompass 792 stores in eight countries, employing more than 60 000 people, and generating an annual turnover of around R60 billion.