Every generation has moments when the future reveals itself – not through prediction, but through action. At NEXT176, we don’t spend time guessing what tomorrow might look like. We build it. We invest in it. And we partner with those bold enough to change it.
Backed by Old Mutual and driven by a powerful founding mission, NEXT176 was created to deliver transformative impact that financial services can provide across ecosystems driving the future of emerging markets, particularly those that matter most in Africa: education, health care, the future of work and access to finance. These are not just sectors but the building blocks of inclusive, sustainable prosperity, underpinning the future distribution of financial services.
We bring together a unique collective – founders, other investors – with one purpose: to grow disruptive, sustainable businesses that can become the giants of tomorrow. We’re not here to follow trends; we’re here to set new benchmarks.
At a time when the global start-up landscape is feeling the squeeze, with African start-up funding dropping 28% in value and 19% in deal volume in 2024, our approach at NEXT176 stands apart. We are not fair-weather backers. We understand the local context, the complexities and the incredible potential beneath the surface of underfunded ideas. We know that the right investment at the right time with the relevant support can create a seismic impact.
Let’s be clear: the age of speculative capital is fading. Investors now demand more – more traction, more efficiency, more proof of concept and scalability – and rightly so. But what we also need is more courage – the courage to fund start-ups solving problems that no-one else will, champion solutions designed for the realities of African life and take risks on teams building something appropriate and necessary.
Solutions to societal problems
At NEXT176, we’ve seen firsthand what happens when innovation meets partnership. Take JemHR, the new age employee benefits and HR platform built for deskless workers, or JOBJACK, which revolutionises the way young South Africans – often first-time job seekers – connect with opportunity.
Beyond South Africa, consider O’Mari, Old Mutual’s fintech platform in Zimbabwe, built by the Old Mutual Zimbabwe Digital Financial Services team. It has attracted more than 1.3-million customers in a short time, becoming a vital digital bridge for financial inclusion. And then there’s the Online Wills business, addressing one of Africa’s most overlooked financial planning needs: the lack of valid wills. With 70% of people dying without one, this online platform is empowering families to secure their futures in just 15 minutes, from the comfort of their own home. We’ve taken that platform, scaled it and brought it into Old Mutual’s ecosystem – addressing a real problem and making it accessible and trustworthy, and therein lies its power. These are businesses with purpose built into their DNA.
These are not just start-up success stories. They are solutions to real societal problems and they prove that innovation doesn’t need to be imported – it simply needs to be ignited.
This is why Old Mutual has created its own corporate innovation business – to back African ideas with African capital. We believe Africa is not waiting for its turn – it’s taking it and making it work.
Suits with briefcases will not define the future of financial services. Digital platforms, AI-driven decision-making, inclusive design and seamless user experiences will shape it. We are helping build that future by investing in tech-driven businesses that challenge the status quo and scale with purpose.
At NEXT176, we don’t just write cheques. We bring corporate muscle, strategic insight, tried and tested expertise and a long-term view. Our entrepreneurs don’t just get capital – they get a launchpad. And our portfolio companies aren’t standalone bets – they’re part of an integrated growth ecosystem.
In a world with scarce funding, dreams alone won’t be enough. But with the right partners, the right mindset and a relentless focus on execution, we can create not just successful companies but lasting impact.
This is the future we’re building, one start-up, one solution and one success story at a time.
Africa doesn’t need another wave of innovation hype. It requires builders, believers and bold capital.
Vuyo Mpako is managing director of NEXT176, Old Mutual.
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