Tiwani Contemporary , a world-leading platform for contemporary art from Africa and its diaspora, has permanently closed its London gallery. Its Lagos location has also paused operations ahead of a planned restructuring.

In a statement, the gallery cited “financial challenges,” worsened by rising operation costs and “a difficult market” for contemporary art, as the reason for its “extremely painful” decision to close. The news follows a contraction of the market for African art from its peak just four years ago.

Founded in London by Maria Varnava in 2011, Tiwani is named after a Nigerian Yoruba phrase meaning “it belongs to us.” The gallery expanded for the years, most recently establishing a two-story space on Cork Street, an art-rich area of London, in 2023.…