By Shola Adebuga

From his roots in Southwestern Nigeria to his impact on the global art scene, Olalekan Bakare, the visionary Founder of B I L A R T E R A L reflects on a remarkable journey shaped by heritage, passion, and a profound dedication to nurturing artistic talent in an encounter with Shola Adebuga of New Americans magazine.

Bakare Mubarak I am from the heavens, birthed this lifetime in Africa and I am on a quest to drive a global African renaissance. My name is Mubarak Olalekan Bakare, known simply as Bakare Mubarak. I am an entrepreneur. I am from the Southwestern part of Nigeria, a town called Oko, in Surulere Ogo-Oluwa local government area and I am from a royal family.

B I L A R T E R A L

B I L A R T E R A L is a dynamic platform that promotes, showcases, supports and propagates arts from Africa and its diaspora. We are fostering an ecosystem of artists, art lovers, curators and collectors.

As such B I L A R T E R A L’ s vision is to continue to provide a platform to promote and amplify the voices of emerging and established artists globally, through exhibitions, art fairs, dialogues and media whilst leveraging technology, for global awareness and even more acceptability of African arts, fostering growth, learning and effective talent management within the African and African diaspora art scene.

As a matter of fact, that decision to seek such a bridge between the diaspora and our community is what is coined as B I L A R T E R A L from the word bilateral, a bifocal artistic arrangement between the two ends: Home and abroad. B I L A R T E R A L boasts of a reputable international partnership and distinguished patrons.

Challenges and Resilience

As an entrepreneur and founder, I face a multitude of challenges and some of the most significant challenges include:

1-Managing the emotional demands of entrepreneurship: The entrepreneurial journey can be emotionally taxing, with highs and lows that can impact mental health and well-being. I prioritize self-care, seek support from mentors and peers, and cultivate a growth mindset to navigate these challenges.

2- Balancing artistic vision with commercial viability: As the founder of a platform dedicated to promoting African art, I must strike a delicate balance between showcasing innovative, boundary-pushing art and ensuring the commercial sustainability of our endeavors.

3- Understanding Diverse Culture: as a global citizen, it is important to learn about several cultures, so as to build strong relationships with associates and allies on a global scale.

4- Limited resources, funding and otherwise.

Through these challenges, I’ve learned invaluable lessons that shaped my leadership approach:

1- Resilience and adaptability are essential: The ability to pivot, adjust, and persevere in the face of uncertainty is critical for entrepreneurial success.

2-Innovation and creativity can arise from constraints: Limited resources, tight deadlines, or unexpected setbacks can stimulate innovative thinking and problem-solving.

3- Self-awareness and vulnerability are strengths, not weaknesses: Recognizing my own limitations, biases, and emotions allows me to lead more authentically, seek support when needed, and create a culture of openness and trust within our organization and more.

Notable Trends or Shifts in the Art Market Landscape

Actually, Contemporary art has experienced a surge in demand and popularity in recent years; more so the global art market landscape is undergoing significant transformations, driven by technological advancements, shifting societal values, and evolving global dynamics. Some notable trends and shifts that have caught my attention include:

Digital Transformation

The COVID-19 pandemic has accelerated the growth of online art sales, with many galleries and auction houses investing in e-commerce platforms. Digital art, including non-fungible tokens (NFTs), has also gained significant traction. Virtual exhibitions and online viewing rooms have become increasingly popular, allowing collectors and art enthusiasts to explore and engage with art remotely.

Sustainability and Social Responsibility

There is a growing emphasis on environmental sustainability, with galleries and museums adopting eco-friendly practices and showcasing eco-conscious art. The art market is also shifting towards greater diversity, equity, and inclusion, with a growing emphasis on showcasing underrepresented artists and promoting inclusivity. Art is being used as a tool for social impact, with many artists and organizations using art to raise awareness about social and environmental issues.

Globalization and Emerging Markets

Emerging markets, such as Africa, Asia, and the Middle East, are driving growth in the art market, with increasing demand for contemporary art. Global art fairs and biennales are becoming increasingly important, providing platforms for artists and galleries to showcase their work to a global audience. Cross-cultural collaborations between artists, galleries, and institutions are on the rise, fostering global dialogue and exchange.

Technology and Innovation66

Artificial intelligence (AI) and machine learning (ML) are being used in the art world to analyze market trends, predict sales, and even create art. Blockchain technology is being used to verify art provenance, ensuring the authenticity and ownership of artworks. Virtual and augmented reality (VR/AR) technologies are being used to create immersive art experiences, allowing viewers to engage with art in new and innovative ways.

These trends and shifts are transforming the art market landscape, offering new opportunities for artists, galleries, and collectors to engage with art and each other.

Afrikin Art Fair

At B I L A R T E R A L we are steadfastly gathering all information and keying into the trends strategically. Our recent representation of five emerging Nigerian artists in the prestigious Afrikin Art Fair, that was held on the sidelines of the Art Basel Miami (Largest Art fair in the World) during the Miami Art Week 2024, is a testament to our commitment.

Also, Cross-cultural collaborations between artists, galleries, and institutions are on the rise, fostering global dialogue and exchange, and we are very much doing that.

As a matter of fact, we shall embark on a cultural exchange in Art trip to the Caribbean this year, as we are already talking with appropriate partners and institutions that will make the endeavor seamless.

Political and Social Realities

There have been tremendous expressions and reflections of today’s political and social realities, so much so that it’s a market trend.

Art is being used as a tool for social impact, with many artists and organizations using art to raise awareness about social and environmental issues.

Social Media and Its Relation

All I could say is that social media has contributed enormously to the development and has amplified art activism in so many ways.

An example of such an interesting leverage of social media  in amplifying Art Activism, is the ‘STATUES ALSO BREATH EXHIBITION’ that held in Nigeria with potters from Ilé-Ifè, in collaboration with a French artist, students from Obafemi Awolowo University and the families of the Chibok girls, the exhibition aims to advocate for the cause of the girls still being held and to highlight the struggle for girls’ education. The students discovered and tried the technique of terracotta sculpting with the artist.

Bilateral and the Future of African Art Investment

We’re advocating for and educating a new generation of young people, who begin to see art not only from an aesthetic standpoint, but also from an investment standpoint.

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