Banro Foundation inaugurates community offices at Twangiza, Lugushwa and Namoya



    BUKAVU, DR CONGO, Oct. 15 /CNW/ - The Banro Foundation, an initiative of
Banro Corporation (TSX: BAA, AMEX:   BAA) today officially opened its new
community office in Twangiza, and will be inaugurating new community offices
on October 16 and 17 in Lugushwa and Namoya. The community offices, each
staffed by a local Banro Foundation secretary, will be administrative centres
for the work of the Banro Foundation in promoting social and economic
development.
    Among the honoured guests at the today's opening ceremony were the
Governor of South Kivu province, provincial cabinet ministers, members of the
provincial parliament, and officials of the Roman Catholic Church and local
Protestant Churches. The local Banro Foundation committee in each location,
which is comprised of leading members of the community and representation from
Banro Corporation, were also among the special guests. The Banro Foundation
committees identify and recommend community projects for funding by the Banro
Foundation and help oversee the development of such projects.
    Dèsire Sangara, Vice-President of Government Relations for Banro
Corporation, said at the opening: "We are thrilled to mark this major
milestone in the evolution of the Banro Foundation. While the Banro Foundation
has to date completed a number of projects, we view today's opening as the
beginning of a vigorous effort to ensure that the communities near Banro's
operations benefit from the development of the region's mineral deposits."

    ABOUT THE BANRO FOUNDATION

    The Banro Foundation is a registered charity in the Democratic Republic
of the Congo with a mandate to support education, health and infrastructure
improvements, as well as provide humanitarian assistance as needed. The Banro
Foundation is funded by Banro Corporation.
    A number of guiding principles steer the work of the Banro Foundation.
The Foundation focuses on needs identified by the local communities and
invests in improvements that benefit communities as a whole. Whenever
possible, the Foundation employs local labour in its initiatives.
    A number of new community initiatives are being launched as part of the
inauguration ceremonies:
    New projects at Lugushwa include construction of a new medical clinic and
the building of a Women's Centre to be used for the teaching of sewing and
other skills. Rehabilitation of the Lugushwa-Tukenga road is also planned.
    At Namoya, new projects include rehabilitation of the local medical
clinic and construction of the Sarambila Institute secondary school.
    Projects proposed by the local Banro Foundation committee at Twangiza
include the supply of potable water to the community, construction of three
new schools and provision of stationary supplies to local schools.
    The Banro Foundation has to date completed several social development
projects. Most recently, the Foundation built the Ntiaso bridge and put in
place the supply of potable water to a village in Lugushwa. It is also in the
process of completing construction of the Kadubo bridge. Meanwhile, local
residents in Namoya are finishing repairs to the Roman Catholic Church with
building materials supplied by the Banro Foundation. The Foundation also
provides writing supplies and desks, built by local carpenters, to primary
schools. In the area of health care, it has focused on infrastructure
development and distributes beds, blankets, and mosquito netting to medical
clinics. Construction of roads and bridges is also an ongoing priority.

    ABOUT BANRO CORPORATION

    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 Democratic Republic of the Congo (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: Simon Village, Chairman, United Kingdom, Tel: (44) 870-351-7904;
Arnold T. Kondrat, Executive Vice-President, Toronto, Ontario; or Martin
Jones, Vice-President, Corporate Development, Toronto, Ontario, Tel: (416)
366-2221 or 1-800-714-7938

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BANRO CORPORATION

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