EXHIBIT 99.29



                               BANRO CORPORATION
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                                  PRESS RELEASE
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                       BANRO CLOSES $16,000,000 FINANCING


Toronto,  March 31, 2004 - Banro Corporation (the "Company") (TSX Venture - BNR)
announces  that  it  has  completed  its  previously  announced  financing  (the
"Financing").  The Company has issued,  by way of private  placement,  2,000,000
common  shares  at a price of $8.00  per  share  resulting  in  aggregate  gross
proceeds to the Company of  $16,000,000.  Kingsdale  Capital  Markets  Inc.  and
Kingsdale  Capital  Partners  Inc.  (collectively,  the  "Agent")  acted  as the
Company's  agent in connection  with the  Financing.  In  consideration  for its
services,  the  Company  paid to the Agent a cash fee equal to 6% of such  gross
proceeds and issued to the Agent 120,000 broker warrants,  with each such broker
warrant  entitling  the holder to purchase  one common share of the Company at a
price of $8.00 for a period of one year.  The said  shares and  broker  warrants
issued by the  Company  under the  Financing  are  subject to a four month "hold
period" and the resale rules of applicable securities legislation.

The net  proceeds  of the  Financing  will be used by the Company to advance the
Company's  projects in the  Democratic  Republic of the Congo located within the
Twangiza-Namoya  gold belt and for general  corporate  purposes.  The  2004/2005
exploration program will focus primarily on the Twangiza, Kamituga, Lugushwa and
Namoya exploitation  permits with additional work being conducted throughout the
regional trend.


For further information, please contact:

Arnold T. Kondrat
President and C.E.O.
Phone: (416) 366-2221
Fax:   (416) 366-7722


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