For financial experts and smart lawyers crafting oh-so clever empowerment deals there is the real risk of losing the audience in reams of legalese, provisos and addendums — and that’s before the structure is even explained.

Northam Platinum, which has done extraordinarily well out of the R4bn cash it raised from a decade-long empowerment deal it signed in 2015 and pushed to maturity four years early, is one such example...

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