In 2007, after 13 years since creation, Banro Corporation turned around from Small Exploration Company to Mining Development Company operating in the Democratic Republic of the Congo (DRC). By then, the preliminary assessments of ROI, the historical rise of gold price and the tax holiday from the government incentivized the move. In a five years period, from 2009 to 2013, two mines worth more than US$600 million, financed through equity for the first of Twangiza and debt for the second of Namoya, were brought to production. However, the project development cost overrun at Namoya mine, associated with the sudden decline of the gold price and other social and operational challenges made it hard for Banro to meet its financial forecasts. To avoid liquidation or bankruptcy that was faced by the company for debt default, a recapitalization was signed off by the major shareholders in April 2017. The resulting change in the capital structure caused ownership change of the corporation, with new principal shareholders the Americans Gramercy Funds Management LLC. and BlackRock Inc., and the Chinese Baiyin Nonferrous Metals Group Co. ltd. acquiring significant vote on any matter coming before a vote of Common Shareholders. The recapitalization aims at improving the company’s financials and might lessen the operational risk exposure of the company, but is also likely to alter the corporate governance and strategy.