EXHIBIT 99.32



                           BANRO ANNOUNCES FINANCING



Toronto,  Canada - March 1,  2004 - Banro  Corporation  (the  "Company")  (TSX-V
- -"BNR")  announces it has engaged  Kingsdale  Capital Markets Inc. of Toronto to
act as agent to sell, by way of private placement, up to 2,000,000 common shares
of the  Company  at a price of $8.00  per  share  for  gross  proceeds  of up to
$16,000,000. The anticipated closing date of this financing is March 31, 2004.

The Company has agreed to pay the agent a commission of 6% of the gross proceeds
of the private placement and 6% brokers warrants  exercisable at $8.00 per share
for a period of one year from closing.

The proceeds of this placement will be used for the exploration of the Company's
Twangiza-Namoya  gold  trend in the  Democratic  Republic  of the  Congo and for
general corporate purposes.

The terms of the private placement are subject to regulatory approval.


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




Arnold Kondrat

President and CEO

Tel: (416) 366-2221


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