Cordiant Capital invested in Banro via a US$13 million PIPE transaction.
Company Headquarters: Democratic Republic of the Congo
Business focus: Gold exploration and development
Revenue: Stock market cap of US$900 million
Employees: Banro is one of the largest private employers in the region with 3,300 employees
impact highlights
- With a presence on Banro’s Board of Directors, Cordiant sought to create value both in the company and in surrounding communities through a robust corporate social responsibility program
- Using proceeds from Cordiant’s investment, Banro is one of the largest private employers in the region; it has created jobs for 3,300 people in the DRC—3,000 of whom are Congolese citizens—and employee turnover is at a low rate of 1.3%
- The Banro Foundation has completed over 40 community-driven projects addressing priority needs in education, health and social infrastructure development
- Working with Congolese NGOs, the Banro Foundation has implemented programs to reintegrate 200 former child artisanal miners into the formal school system and offer skills training programs