Banro and Banro Group (Barbados) Limited Declare Dividends Payable on Series A Preference Shares of Banro and Preferred Shares of Banro Group (Barbados) Limited

TORONTO, ONTARIO--(Marketwired - Sept. 15, 2016) - Banro Corporation ("Banro" or the "Company") (NYSE MKT: BAA)BAA hereby notifies holders of Series A Preference Shares of Banro ("Banro Series A Shares") and holders of Preferred Shares of Banro Group (Barbados) Limited ("Barbados Preferred Shares") that (a) the board of directors of Banro has authorized and declared, in respect of the September 30, 2016 Dividend Payment Date, a dividend payable of US$0.80 per Banro Series A Share, and (b) the board of directors of Banro Group (Barbados) Limited has authorized and declared, in respect of the March 31, 2016 Dividend Payment Date, a dividend payable of US$0.735 per Barbados Preferred Share and, in respect of the June 30, 2016 Dividend Payment Date, a dividend payable of US$0.755 per Barbados Preferred Share.

The said dividends are payable on September 27, 2016 to, in the case of the dividend payable on the Banro Series A Shares, holders of record of Banro Series A Shares on September 22, 2016 and, in the case of the dividends payable on the Barbados Preferred Shares, holders of record of Barbados Preferred Shares on September 22, 2016.

In accordance with the requirements of the articles of Banro and Banro Group (Barbados) Limited, Banro hereby notifies holders of Banro Series A Shares and holders of Barbados Preferred Shares of the following information (as applicable) necessary to calculate the amount of the said dividends. Defined terms used in this press release which are not otherwise defined shall have the meaning given to them in the articles of Banro and Banro Group (Barbados) Limited.

--  The simple average of the Reference Gold Price during the three-month
    period ending on December 31, 2015 is US$1,106.50, the simple average of
    the Reference Gold Price during the three-month period ending on March
    31, 2016 is US$1,182.60, and the simple average of the Reference Gold
    Price during the three-month period ending on June 30, 2016 is
    US$1,259.62. 
    
--  The Relevant Number for the purposes of the calculation of the Dividend
    Liquidation Preference is 0.017501. 
    
--  With respect to the Barbados Preferred Shares, (A) immediately prior to
    March 31, 2016, the dividends on the Barbados Preferred Shares in
    respect of the September 30, 2015 Dividend Payment Date and the December
    31, 2015 Dividend Payment Date were accrued and unpaid, and (B)
    immediately prior to June 30, 2016, the dividends on the Barbados
    Preferred Shares in respect of the December 31, 2015 Dividend Payment
    Date and the March 31, 2016 Dividend Payment Date were accrued and
    unpaid. There are currently no dividends accrued and unpaid on the Banro
    Series A Shares.  
    
--  The Monthly Production Level for the fourth quarter of 2015 was 15,447
    ounces of gold per month such that the Annual Dividend Yield in respect
    of the March 31, 2016 Dividend Payment Date is 14.0%, the Monthly
    Production Level for the first quarter of 2016 was 14,731 ounces of gold
    per month such that the Annual Dividend Yield in respect of the June 30,
    2016 Dividend Payment Date is 13.5%, and the Monthly Production Level
    for the second quarter of 2016 was 16,558 ounces of gold per month such
    that the Annual Dividend Yield in respect of the September 30, 2016
    Dividend Payment Date is 14.5%. 

Banro Corporation is a Canadian gold mining company focused on production from the Twangiza mine, which began commercial production September 1, 2012, and on production at its second gold mine at Namoya, where commercial production was declared effective January 1, 2016. The Company's longer term objectives include the development of two additional major, wholly-owned gold projects, Lugushwa and Kamituga. The four projects, each of which has a mining license, are located along the 210 kilometre long Twangiza-Namoya gold belt in the South Kivu and Maniema provinces of the Democratic Republic of the Congo. All business activities are followed in a socially and environmentally responsible manner.

FOR FURTHER INFORMATION PLEASE CONTACT:
Banro Corporation
Martin Jones
1 (416) 366-2221, Ext. 3213
1-800-714-7938, Ext. 3213
info@banro.com
www.banro.com