Patrons Modern and Contemporary African Arts, an organisation focused on the arts, has revealed that the African arts industry constitutes US$13bn, 2.5 per cent of the global art market worth US$520bn.
Ms Keturah Ovio, a director at Patrons MCAA, said this at a recent press conference heralding the 6th miniature exhibition scheduled to be held in Lagos. The exhibition aims to reclaim feminine narratives, redefine icons, and inspire inclusion through the arts.
She stated that there was an opportunity for the private and public sector participants to do more by investing in the arts.
She said, “The size of the African arts industry is just about US$13bn, just 2.5 per cent of the US$520 billion global arts market. There is an opportunity for the private and public sector participants to do more.
“Everyone has to invest in it. As corporates, we must invest in art collections, building, marketing, and export. We need art in public places. We need to export art, not just tech or other products. Art’s values can be appreciated and can change people’s lives.”
Themed ‘Herstory Reframed’, Ovio stated that the exhibition would feature three well-exhibited female artists from French-speaking African countries who would tell incredible stories through their 20 works of art.
She added that the event, which would take place at The Art Hotel Lagos from March 30 to April 14 2024, would feature a fireside chat, during which women in business, finance, and the arts would discuss the way forward for the African art industry.
