A recurring challenge for Africa’s art industry is limited funding. Financing the arts requires a multi-faceted approach, leveraging diverse models such as philanthropy, corporate sponsorships, and grant acquisition. These frameworks aim to replicate the success of public-private partnerships like Morocco’s collaboration with UNESCO to preserve cultural heritage or the South African Breweries’ sponsorship of arts initiatives.
Addressing these gaps requires robust policy advocacy and a shift in funding priorities. A case in point is Kenya’s National Government Constituencies Development Fund, which allocates resources to local art projects, fostering grassroots creativity and community engagement.
The inaugural Wo’Ama Business Conference, set for December 3, 2024, at Alliance Française in Ikoyi, Lagos, will bring funding for the art and other critical issues to the forefront. With the theme “Art Business & Beyond: Navigating the Business of Art from an African Viewpoint,” the event which is convened by Sunshine Alaibe promises to catalyze sustainable growth in Africa’s art ecosystem by convening industry leaders, cultural administrators, and policymakers.
Shaping art’s future through collaboration
Panel discussions will address key topics, including “Museums, Galleries & Art Centres.” This session will explore market accessibility and career pathways for African artists, using Ghana’s Nubuke Foundation as a benchmark. By offering residencies and international exhibition opportunities, Nubuke provides a model for empowering artists and connecting them to global markets. Wo’Ama’s efforts could amplify such initiatives across the continent, creating opportunities for collaboration and investment.
Another critical session will examine the influence of pre-colonial Nigerian art on contemporary movements, from Nok terracottas to Benin bronzes. This discussion will emphasize the economic and cultural potential of preserving Nigeria’s rich artistic heritage. Similar to Italy’s Renaissance art, which attracts millions of tourists and billions in revenue annually, Nigeria’s historical assets could serve as a significant driver of cultural and economic growth.
Sustainability at the core
The conference will also tackle sustainability in the art industry. Workshops on art conservation and quality control will equip participants with the tools to preserve Africa’s artistic legacy. In markets like Nigeria, where the creative economy contributes roughly 2% to GDP, preserving cultural assets is essential for maintaining their dual role as treasures and economic drivers.
Art as an economic catalyst
Wo’Ama’s agenda extends beyond the art world, underscoring the economic potential of integrating art into business strategies. Public-private partnerships like Rwanda’s Kigali Cultural Village demonstrate how art can spur urban development and community engagement. Meanwhile, corporate sponsorships, such as Standard Bank’s art collection in South Africa, highlight how businesses can foster cultural enrichment while boosting brand equity.
Bridging creativity and commerce
By focusing on actionable insights, Wo’Ama aims to inspire investment, foster collaborations, and address long-standing challenges in Africa’s art ecosystem. The conference’s emphasis on practical solutions—ranging from sustainable funding models to cultural preservation strategies—positions it as a transformative platform for stakeholders across creative and economic sectors.
With Africa’s art industry poised for exponential growth, strategic initiatives like the Wo’Ama Business Conference hold the potential to unlock unprecedented opportunities for investment, tourism, and cultural preservation.
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