Malagasy billionaire Hassanein Hiridjee is deepening his commitment to Africa’s creative economy by shutting down his contemporary art foundation’s exhibition space in Paris and redirecting its re
Fondation H announced on July 21, 2026, that it will close its Paris exhibition space in September 2026, ending five years of operations in the French capital. The move reflects a strategic decision to concentrate investments, artist development, and cultural initiatives at the foundation’s headquarters in Antananarivo, Madagascar.
The decision positions Madagascar as the center of Fondation H’s future activities and reinforces a growing trend of African institutions investing directly in local creative ecosystems rather than relying on international platforms.
The Paris gallery, located in the historic Marais district, opened in September 2020 through a partnership with the Cité internationale des arts. It served as an international hub where artists from Madagascar and the wider Indian Ocean region could exhibit their work, participate in residencies, and connect with global audiences.
With the closure, all exhibitions, artist residencies, grants, mentorship programs, and international collaborations will now be coordinated from the foundation’s 2,200 square metre solar powered headquarters in Antananarivo.
Founded in 2017 and officially recognized as a public utility in Madagascar a year later, Fondation H has become one of the country’s leading institutions supporting contemporary visual arts. Its initiatives include the Prix Paritana, professional art training programs, educational workshops for children, and financial support for emerging and established artists.
Speaking about the foundation’s mission in a statement cited by Billionaires.Africa, Hiridjee said the Paris venue was created to bring French and international audiences closer to contemporary African art while building stronger connections and opportunities for artists across the continent.
The foundation’s headquarters in Antananarivo offers expansive exhibition galleries, creative studios, an art library, a permanent art collection, and public spaces designed to foster artistic innovation and cultural exchange.
The strategy also ensures that future grants, artist residencies, and curatorial partnerships are rooted in Africa, enabling more creators to develop their careers without relocating abroad.
For Africa’s broader creative economy, the decision signals growing confidence in the continent’s ability to nurture world class artistic talent from within. As governments, private investors, and philanthropists increasingly invest in creative industries, institutions such as Fondation H are demonstrating that sustainable cultural development can be driven from Africa itself.
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