Johannesburg / Kyiv — South Africa-based defence and aerospace manufacturer Paramount Group is seeking to establish a foothold in Ukraine’s rapidly expanding armoured vehicle market, signalling Africa’s growing participation in global defence supply chains even as Pretoria maintains delicate diplomatic ties with Russia, according to Business Insider Africa.
Paramount, Africa’s largest privately owned defence company, is moving to supply Ukraine with a new generation of armoured vehicles as the protracted war continues to drive urgent demand for battlefield-proven equipment. The expansion underscores how defence manufacturing is becoming increasingly transnational, drawing on partnerships across Europe, Asia and Africa.
Founded by South African entrepreneur Ivor Ichikowitz, the Sandton-headquartered group supplies armoured vehicles, aircraft, naval platforms and advanced defence technologies to customers in more than 25 countries. Its entry into Ukraine comes as global defence procurement patterns shift sharply in response to the conflict, opening opportunities for non-traditional suppliers.
European subsidiary leads expansion
The push into Ukraine is being led by Paramount Industries Greece S.A., the group’s European subsidiary, positioning the company more firmly within European and NATO-adjacent defence markets. According to Ukrainian defence publication Oboronka, Paramount Greece earlier this year presented a locally adapted Mbombe 4 armoured vehicle to Ukrainian defence stakeholders, marking one of the firm’s most direct engagements with a European conflict-zone customer.
The vehicle belongs to the Mbombe family of mine-protected combat platforms designed for high-threat environments. Named after a Zulu warrior, the Mbombe line emphasises survivability, mobility and durability under modern battlefield conditions.
Defence analysts report that the Ukraine-specific variant has been designated the OWL, incorporating lessons from Ukrainian forces and featuring enhanced protection against artillery fragments, landmines and small-arms fire—threats that continue to dominate combat realities on the ground.
Local integration and customisation are being handled by Military Armored Company HUB (MAC HUB), Paramount’s Ukrainian partner.
Cross-border manufacturing model
The OWL platform draws on the Kalyani M4, produced in India under licence by Bharat Forge, highlighting the increasingly globalised nature of defence manufacturing, where design, production and integration often span multiple continents.
According to Oleksandr Dubyna, director of MAC HUB, the OWL is the second and largest vehicle in the company’s line-up, developed over an 18-month engineering programme in collaboration with Paramount Greece.
“The key feature of this vehicle is that it offers the highest level of mine protection currently available in Ukraine,” Dubyna said. “It was designed from the outset on a fully welded monocoque chassis, allowing for superior blast resistance.”
Geopolitical balancing act
Paramount’s expansion comes against the backdrop of South Africa’s complex geopolitical stance on the Russia–Ukraine war. Pretoria has sought to preserve relations with both Kyiv and Moscow, maintaining a formal policy of non-alignment while calling for a negotiated settlement to the conflict.
The company’s move into Ukraine illustrates how South African firms are pursuing international commercial opportunities independently of the government’s diplomatic balancing, even as Western scrutiny of defence-related trade intensifies.
Despite filing for Chapter 11 bankruptcy protection in the United States in 2024 following a prolonged legal dispute—listing assets of between $500 million and $1 billion against liabilities of $100 million to $500 million—Paramount Group remains active in seeking new international contracts.
Its latest push into Ukraine reflects both the resilience of the global defence industry and Africa’s expanding role within it, as emerging-market manufacturers increasingly compete in high-stakes theatres once dominated by Western suppliers.
