BANK OF AFRICA - Resource #8 Art


African creativity at the forefront of the global contemporary art scene

Since 2017, demand has soared, as have the artists’ ratings and the proceeds from specialized sales. Between 2017 and 2018, the cumulative income from sales in London and Paris, the two main centers of the Western market in the promotion and valorization of an exclusively African art scene, rose to $27.8 million, versus $5.9 million over the two previous years. 

Specialized events are steadily increasing around the world taking the example of 1-54, the first major international fair dedicated to contemporary art from Africa and its diaspora, which holds annual editions in London since 2013, New York since 2015 and Marrakech since 2018. 

In Morocco, the Mohammed VI Museum of Modern and Contemporary Art in Rabat (MMVI) aims to cover the development of Moroccan artistic creativity in plastic and visual arts, from the beginning of the 20th century to the present day. 

Strongly committed to cultural sponsorship, BANK OF AFRICA supports a large number of national and international festivals including the Mawazine Festival in Rabat, the Fez Festival of World Sacred Music, and Oasis Festival in Marrakech. The bank also supports art exhibitions such as the Museum of Arts and Traditions of Morocco, and the upcoming Dr. Leila Mezian Benjelloun Museum, which will showcase the richness and diversity of Moroccan culture represented by an outstanding private collection.