PR — Banro Corporation 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
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.