TRACE and American Chamber of Commerce in Zambia Partner to Advance Commercial Transparency in Zambian Market

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Sep 17, 2013, 10:25 ET

WASHINGTON and LUSAKA, Zambia, Sept. 17, 2013 /PRNewswire/ -- TRACE and the American Chamber of Commerce in Zambia (AmCham Zambia) today announced that they have forged a strategic alliance to promote a due diligence standard in Zambia and help companies maintain anti-bribery controls. TRACE engages with organizations worldwide to promote transparency in international business and to achieve a common standard for anti-bribery compliance and third party due diligence. AmCham Zambia is the second international chapter of the American Chamber of Commerce to collaborate with TRACE on this worldwide compliance initiative; AmCham Libya launched its TRACE alliance in August 2013.

Together, TRACE and AmCham Zambia will help develop and support trade and investment between the United States, the business community and Zambia. As part of the agreement, AmCham Zambia members will be required to complete TRACEcertification, a comprehensive due diligence review, analysis and approval process, which includes a mandatory online training course and annual review of due diligence compliance. The two organizations aim to help companies operating in Zambia streamline their certified anti-bribery controls, obtain an internationally recognized compliance credential, and maintain their own verified anti-bribery due diligence information.

Alexandra Wrage, President of TRACE International, stated, "Today's announcement is another example of how TRACE works with global partners to achieve an internationally-recognized, common standard for anti-bribery compliance and third party due diligence. This latest alliance is an important breakthrough in this worldwide initiative."

David Vosburg, President of The American Chamber of Commerce in Zambia, said, "This alliance supports our mission by setting the highest due diligence standard for our members and by providing them with an internationally recognized compliance credential. It aligns us with the fight against corruption, ensuring that every business transaction under TRACE creates value that will contribute to the Zambian economy."

Bruce Campbell, General Counsel of GE Africa said, "This initiative will be good for Zambian companies, and for the international investors who want to come and do business in Zambia. We applaud TRACE for their foresight and commitment in putting together this partnership with AmCham Zambia."

TRACE and AmCham Zambia will cohost a training workshop on January 16, 2014 in Zambia, which will provide AmCham members with an introduction to TRACEcertification and a full day of anti-bribery training.

About TRACE
TRACE (www.traceinternational.org) develops cost-effective anti-bribery compliance and due diligence solutions for multinational companies and their commercial intermediaries, including sales agents and representatives, consultants, distributors, suppliers and others. Headquartered in Annapolis, Maryland, TRACE is committed to pragmatic alternatives to increasingly time-consuming and expensive corporate compliance.

About AmCham Zambia
The American Chamber of Commerce in Zambia (www.amchamzambia.com) is a member-based business association founded in 2011 that seeks to promote, develop, and facilitate commerce, trade, and investment between the United States of America, the business community, and Zambia. Its focal areas include business linkages, policy advocacy, professional development, and corporate social responsibility. Current membership includes, but is not limited to, AGCO, AON, BDO, Black & Veatch, Cargill, Citibank, Coca-Cola, Fedex, General Electric, IBM, Intercontinental Hotel Group, Marsh, Monsanto, Pioneer-Dupont, Pricewaterhouse Coopers, and Radisson Blu. Its national headquarters office is located in the capital, Lusaka.

For more information on this partnership or TRACE: contact [email protected] or [email protected]. For more information on AmCham Zambia contact: [email protected] or [email protected].

SOURCE TRACE