Banro and CARE International to partner for sustainable community development in DR Congo
07 February 2008 - 1:00AM
PR Newswire (US)
TORONTO, Feb. 6 /PRNewswire-FirstCall/ -- 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. DATASOURCE: Banro Corporation
CONTACT: please visit our website at http://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 or 1-800-714-7938
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