Africa’s Largest Private Defence Company Moves to Supply Ukraine With New Armoured Vehicle

Olamilekan Okebiorun

07 February 2026 10:58 PM

South Africa-based defence and aerospace manufacturer Paramount Group is seeking to establish a presence in Ukraine’s rapidly expanding armoured vehicle market, signalling Africa’s growing role in global defence supply chains even as Pretoria maintains complex diplomatic ties with Russia.

Africa’s largest private defence company moves to supply Ukraine with new armoured vehicle

Paramount Group is a South African defence and aerospace manufacturer extending its operations to Ukraine's armoured vehicle market.

This expansion reflects Africa's growing influence in global defence industries and involves leveraging European partnerships, such as Paramount Greece.

The company introduced the OWL vehicle, adapted for Ukraine with enhanced protection features to address modern combat challenges.

Paramount's expansion aligns with its historical collaboration with Ukraine in areas like armoured vehicle production and aviation modernization.

Paramount Group, the Sandton-based defence manufacturer founded by South African entrepreneur Ivor Ichikowitz, is entering Ukraine’s fast-growing military procurement market as the war reshapes defence supply chains.

The company, which supplies armoured vehicles, aircraft, naval systems and defence technologies to customers in more than 25 countries across several continents, is expanding internationally as South Africa navigates ties with Moscow while adhering to a policy of non-alignment, amid heightened Western scrutiny.

European subsidiary leads push

The expansion is being spearheaded by Paramount Greece, the company’s European subsidiary operating through Paramount Industries Greece S.A., positioning the firm within European and NATO-linked defence markets.

According to Ukrainian defence outlet Oboronka, the unit earlier this year showcased a locally adapted Mbombe 4 vehicle to Ukrainian defence stakeholders, marking one of Paramount’s most direct engagements with a conflict-zone customer in Europe.

The vehicle is part of the Mbombe family of mine-protected combat platforms designed for high-threat environments. The name “Mbombe” honours a Zulu warrior and signals a focus on protection and durability.

Defence Blog reported that the Ukrainian-configured variant has been designated the OWL, incorporating battlefield lessons from local forces with enhancements focused on resistance to artillery fragments, landmines and small-arms fire, persistent threats that continue to shape procurement priorities.

Integration is being handled by Military Armored Company HUB (MAC HUB), Paramount’s local partner.

The platform draws on the Kalyani M4, produced in India under licence from Bharat Forge, highlighting the increasingly cross-border nature of modern defence manufacturing.

Engineered for blast protection

According to Oleksandr Dubyna, director of MAC HUB, the OWL is the second, and largest, model in the company’s lineup, developed over an 18-month engineering cycle in collaboration with Paramount Greece.

“The main feature of this vehicle is that it has the highest level of mine protection in Ukraine and was designed from the outset on a fully welded monocoque chassis,” chief designer Viktor said.

Pretoria’s geopolitical tightrope

The expansion comes as South Africa navigates a sensitive geopolitical position over the Russia-Ukraine war, with Pretoria seeking to preserve diplomatic ties with both Kyiv and Moscow.

While maintaining longstanding relations with Russia, the government says it follows a policy of non-alignment and supports diplomatic efforts to end the conflict.

Paramount’s move into Ukraine, however, signals how some South African companies are pursuing overseas opportunities independently of the country’s delicate diplomatic balancing.

Despite filing for Chapter 11 bankruptcy protection in the United States in 2024 after a prolonged business dispute, listing assets of $500 million to $1 billion against liabilities of $100 million to $500 million, the privately owned defence and aerospace manufacturer continues to seek international contracts.