Funding Issues in the Visual Art Industry and Potential Opportunities, Comparative Analysis of Countries in West Africa

Abstract

This paper discusses funding challenges in the visual art industry and the possibility of such opportunities by comparing countries in West Africa. The arts institutions indicate that the future for the Visual Arts Industry in West Africa remains bright and full of opportunities; however, several obstacles to growth and development persist in the following areas: Source of Funding, Infrastructure/Coordination, Capacity Building, Education/Training, and Exhibition/Museum. Using the BCG growth-sustenance matrix, West African countries must follow a dual approach which involves government support coupled with private sector investment, funds from abroad, crowdfunding, capacity building, collaborations, development of structures and infrastructure, art tourism, accountability and transparency for sustainable development for this creative industry.

Furthermore, narrative meaning-making is employed as a communication strategy to capture the viewers' attention about visual art in West Africa and the effects of funding on artists and art institutions. As this paper draws to a close, the author affirms the need for constant and purposeful investment in the visual art business to help the company grow long-term, preserve the cultural and artistic heritage, and boost the economic development of West African countries. This forward-thinking approach of proposing funding and promotional avenues for collaborations and partnerships in West African countries is encouraged to support the growth and sustainability of the visual art industries for the global socio-economic development of arts and culture.

The paper provides policy recommendations that can be adapted to support the growth and sustainability of the industry, including increasing government funding, encouraging private sector investment, supporting art education and capacity building, fostering collaboration and networking, building infrastructure, promoting art tourism, establishing cultural diplomacy programs, developing intellectual property policies, promoting digital platforms, and encouraging community engagement. By implementing these policy recommendations, West African countries can unlock the full potential of their visual art industries and contribute to the region's growth and development of arts and culture.

Key Words: Visual Art, Funding Issues, Countries in West Africa, Visual Art Industry, Potential Opportunities

DOI: 10.7176/JCSD/74-05

Publication date: January 30^th 2025