Raymond Ackerman receives Lifetime Achievement Award

It is awarded to an individual whose contribution to business growth, innovation, technology and development of the highest quality products and services has been displayed throughout his or her career. "Raymond Ackerman is known as the father of the South African retail industry. He is the founder of the Pick n Pay Group and has achieved great success as a business while making a point of also being successful in philanthropy," said the CNBC Africa AABLA team.

Through incisive leadership, the group has achieved remarkable status in the South African retail landscape, pioneering hypermarkets and diversifying into liquor, clothing and pharmacy. It introduced new black ownership through its very successful franchise division, introduced the concept of sustainability nearly a decade before other retailers and invested in growing small farmers and BEE suppliers in order to help address and avoid national food security issues.

Apart from that, the group and its leadership have chosen to take principled positions on issues that they believed directly affected the future of South Africans. Ackerman's stand on apartheid, monopolies, cartels and regulated consumer prices has been widely publicised. South Africans have come to expect a 'voice' from the group and its leaders on social issues, which could have a material effect on their future safety and prosperity.

"I am exceptionally proud of Pick n Pay's achievements over the past 43 years," said Ackerman, upon receipt of his award. "Being an entrepreneur has enabled me to set in motion everything I ever wanted to achieve, and I'd like to encourage our entrepreneurs-in-waiting to take that first step. I'd like to thank my family and also the team, as I could not have achieved this award without their support."