DR. PIKAY Richardson, a Ghanaian Economist based in the United Kingdom UK, on Thursday blamed the non-performance of most state-owned companies on the lack of visionary leaders and good managers.

He urged government to take displayed visionary leadership and Management qualities into consideration in appointing chief executives and managers to run state-owned companies, to ensure maximum output and its resultant economic prosperity.

Dr. Richardson, an Economics Fellow at Manchester School of Business, was speaking at a lecture series organised by the British Council to introduce Ghanaians to the implications of the introduction of the Euro and changing leadership and management trends in the global economy.

He said, more often than not, governments in most African countries like Ghana had appointed their political favourites to top positions without necessarily considering whether they had what it took to develop the economy.

?Experience has shown that political consideration for the distribution of top jobs has not paid off,? he noted. ?Governments must look beyond politics of job distribution and look out for visionary leaders and competent managers who have proven record to turn the fortunes of state owned companies around.?

He argued that what most Ghanaian companies lacked was visionary leaders, saying that, most companies had people with management skills but without vision to move the companies forward to achieve results.

?It takes visionary leaders who are willing and able to dream about a better future, ensure focus, effect and lead the necessary change to make that expected future a reality,? he said. ?A visionary leader who is a poor manager is better than a good manager who is a bad leader.?