With the intent to put a stop to bribes and corruption, the American Chamber of Commerce (AmCham) and Trace International have formed a partnership to improve trade in Zambia. Anti-bribery initiatives and the setting of new standards, Times of Zambia reported, must be “cost-effective” and efficiently serve multinational companies.
According to the report, AmCham’s Zambia chapter is one of two international chapters to partner with Trace International for the purpose of increasing transparency. Through promoting “a due diligence standard in Zambia,” Times of Zambia said, bribery will be easier to pinpoint and control.
“This initiative will be good for Zambian companies, and for the international investors who want to come and do business in Zambia,” Bruce Campbell, General Electric Africa General Counsel said in the report.
“As part of the agreement, AmCham Zambia members will be required to complete Trace certification, a comprehensive due diligence review, analysis and approval process, which includes a mandatory online training course and annual review of due diligence compliance,” a statement outlined by Times of Zambia read.
Heightening international standards and verifying anti-bribery practices in Zambia is the main goal of the partnership. Investment and better support of trade compliance between the U.S. and Zambia is also a top priority, according to Times of Zambia. Companies operating in Zambia will also be encouraged to hold onto “their own verified anti-bribery due diligence information.”