EXHIBIT 99.27

                                 PRESS RELEASE


                          BANRO APPOINTS MICHAEL SKEAD
                               EXPLORATION MANAGER


Toronto,  Canada - May 5, 2004 - Banro Corporation ( the "Company") (TSX-Venture
- - "BNR") is pleased to announce the  appointment of Michael Skead as Exploration
Manager for its 100% owned  Twangiza-Namoya  gold belt project in the Democratic
Republic of the Congo ( the "DRC"). Mr. Skead, a geologist, has over 15 years of
international  experience in the mineral exploration field, mainly in Africa. He
has a B.Sc  Honours  from the  University  of Cape  Town  and a M.Sc in  Mineral
Exploration from Rhodes University.

Mr.  Skead was the  Exploration  Manager  for Samax  Resources  Limited  and was
responsible  for the discovery of the Kukuluma and Matandani  gold deposits near
the Lake Victoria  Goldfields in northern Tanzania.  Mainly as a result of these
two discoveries and their proximity to Geita,  Samax Gold Inc. was  subsequently
acquired  by Ashanti  Goldfields  Company  Limited.  Geita is now East  Africa's
largest gold producer.

Commenting on Mr. Skead's appointment, Arnold Kondrat, interim President and CEO
of the Company,  said "We are extremely  pleased that Mike,  with his successful
record of finding gold deposits in Africa, has joined to head up our exploration
team in the DRC.  From our  exploration  office in Bukavu,  Mike will  manage an
aggressive   exploration   programme,   focusing  on  the  210  kilometre   long
Twangiza-Namoya gold belt".

For further information, please visit our website at www.banro.com or contact:

Arnold T. Kondrat
President & CEO

Tel: (416) 366-2221


Banro  Corporation is a Canadian based company focused on the exploration of its
wholly  owned  Twangiza-Namoya  gold project in the  Democratic  Republic of the
Congo.


The TSX Venture  Exchange  does not accept  responsibility  for the  adequacy or
accuracy of this release.