Tate Modern unveils its latest corporate sponsor.
Most Londoners' experience of Nigerian banks probably only goes as far as those spam emails that promise untold riches if only you give out your address, bank details, mother's maiden name, inside leg measurement etc etc. But not for long. Because now Nigeria's most profitable bank, Guaranty Trust (GT) Bank, is teaming up with Tate Modern in order to promote African art.
GT Bank have already sponsored Tate trustee Chris Ofili's controversial exhibition at Tate Britain in 2010 as well as Yinka Shonibare's work for the fourth plinth, and now they've announced a long-term sponsorship deal with Tate Modern. The exact details, like time frames and exact sums involved, are a little hazy at present – a spokesman told Spoonfed helpfully, “they're not putting an actual figure on it” – but the deal comprises three main elements: a new curatorial post at Tate Modern with a remit to focus on African art; an acquisition fund to enable Tate to purchase works by African artists; and an annual project taking place in London and Africa to “enable continuous exchanges between young artists, curators, collectors and cultural institutions.”
Tate has come under fire in recent years for some of its corporate partners – most notably BP, whose involvement has led to demonstrations, letters of protest and an anti-BP sleepover flashmob. So it's interesting to see the announcement of a new corporate sponsor – one it has to be said, with a remarkably controversy-free history.
Chris Dercon, Director of Tate Modern said; “This important partnership between Tate and Guaranty Trust Bank... is the beginning of being able to give African art the focus it deserves with audiences around the world.”
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