Billionaire collectors set their sights on Africa’s art
AFRICA'S fine art market is emerging from obscurity, fueled by a surge of demand from international and, increasingly, local collectors. According to the Africa Wealth Report 2023, published by Henley & Partners with New World Wealth, the continent's fine art market is valued at just over US$1.8 billion as of December 2022. The figure indicates the annual combined value of artworks traded at auction, highlighting art as a symbol of social status and luxury and a promising investment opportunity. Works by African artists such as Irma Stern, El Anatsui and Ben Enwonwu are especially popular among art collectors worldwide. "Irma…