TORONTO, Feb. 6 /CNW/ - Banro Corporation ("Banro" or the "Company")
(AMEX - "BAA"; TSX - "BAA") is pleased to announce that it has formed a
partnership with CARE to promote sustainable development at the communities
near its operations in South Kivu and Maniema provinces of the Democratic
Republic of the Congo (the "DRC").
The partnership will significantly enhance and provide a comprehensive
framework for the activities of the Banro Foundation, which is the Company's
vehicle for investing directly in local social and economic development. The
Banro Foundation is a registered charity in the DRC with a mandate to support
education, health and infrastructure improvements.
CARE will lead a needs assessment mission to the communities of Twangiza,
Lugushwa and Namoya during the second quarter of 2008. CARE proposes using the
United Nations' Millennium Development Goals to focus Banro's community
development efforts, with the goal of creating long-term sustainable economic
and social benefits for the communities near Banro's operations.
Mike Prinsloo, CEO of Banro Corporation, said: "We are very pleased to
collaborate with CARE. In addition to being a world leader in community
development, CARE has a professional approach that complements Banro's own
business philosophy. CARE's experience in a broad range of sectors will allow
the Banro Foundation to address not only education, basic health and
infrastructure needs, but such challenges as the empowerment of women, private
sector development, high child mortality rates and HIV/AIDS, malaria and TB
prevention and treatment."
Caroline Marrs, Vice-President for International Programs of CARE Canada
commented: "CARE believes that positively influencing Canadian companies
working internationally is both possible and vital. CARE can bring its
expertise to improve the chances for achieving sustainable positive outcomes
at the community level. As well, CARE believes it can and should engage with
its partners to consider the impact of their presence and operations more
broadly - notably on governance and human rights - and work with them to make
pro-poor changes to business models and practices. Banro is an appropriate
partner for CARE as it has demonstrated a serious commitment to community
development through the activities of its Foundation and its success in
creating capacity-building jobs and opportunities for local Congolese."
Banro is a Canadian-based gold exploration company focused on the
development of four major, wholly-owned gold projects along the 210
kilometre-long Twangiza-Namoya gold belt in the South Kivu and Maniema
provinces of the DRC. Led by a proven management team with extensive gold and
African experience, Banro's strategy is to unlock shareholder value by
increasing and developing its significant gold assets in a socially and
environmentally responsible manner.
For further information:
For further information: please visit our website at www.banro.com, or
contact: Mike Prinsloo, South Africa, Tel: (27) 11 480-4906/4940; Arnold T.
Kondrat, Executive Vice-President, Toronto, Ontario, or Martin Jones,
Vice-President, Corporate Development, Toronto, Ontario, Tel: (416) 366-2221