The next one, but equally important, could be that countries have an intentional policy put in place to compel public utility companies (Telcos, Banks, Insurance, Cement, Breweries, Transport, Mining, eligible schools, universities, and hospitals, Power generating and other public utilities) to give a certain percentage of their shareholding to the public through listings. In addition, there should also be a policy to compel a certain size of businesses or a certain number of shareholders, especially those companies doing exports and earn hard currency. Such a policy would not only increase domestic savings levels but would also promote local ownership of the local economy and thus reduce not only dependency on foreign ownership but, most importantly, it would reduce capital flight due to reduced dividend payouts that get repatriated to foreign shareholders, which puts pressure on the local currencies.
