Ukraine’s rapidly expanding military procurement market is attracting interest from an increasingly diverse range of international suppliers, including Africa’s largest private defence company, Paramount Group. The South African firm is seeking to establish a significant presence in the country, leveraging a European subsidiary and a collaborative partnership with a Ukrainian manufacturer.
Paramount Group, founded by entrepreneur Ivor Ichikowitz, supplies armoured vehicles, aircraft, naval systems, and defence technologies to over 25 countries. The company’s expansion into Ukraine comes as it navigates South Africa’s complex diplomatic position regarding the ongoing conflict, maintaining a policy of non-alignment while facing heightened scrutiny from Western nations. The move also occurs as Paramount Group continues to pursue international contracts despite recent financial challenges, including a Chapter 11 bankruptcy filing in the United States in 2024 related to a business dispute, listing assets between $500 million and $1 billion against liabilities of $100 million to $500 million.
European subsidiary leads push
The expansion is being spearheaded by Paramount Greece, operating as Paramount Industries Greece S.A., positioning the firm within European and NATO-linked defence markets. This strategy allows Paramount to tap into established supply chains and benefit from closer proximity to a key customer. Earlier this year, Paramount Greece showcased a locally adapted Mbombe 4 vehicle to Ukrainian defence stakeholders, marking a direct engagement with a conflict-zone customer in Europe, according to Ukrainian defence outlet Oboronka.
The Mbombe family of vehicles are mine-protected combat platforms designed for high-threat environments. The name “Mbombe” itself, meaning “rhinoceros” in Zulu, signifies a focus on protection, and durability. Paramount has adapted the vehicle for the Ukrainian context, with enhancements focused on resistance to artillery fragments, landmines, and small-arms fire – persistent threats shaping procurement priorities in the region.
Integration and local production are being handled by Military Armored Company HUB (MAC HUB), Paramount’s Ukrainian partner. The resulting vehicle, designated the OWL (Sova in Ukrainian), represents a significant addition to Ukraine’s land vehicle fleet.
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 and supply chains.
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 vehicle is designed with a fully welded monocoque chassis, providing a high level of mine protection – a critical requirement in the Ukrainian conflict zone.
“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,” a chief designer at MAC HUB, Viktor, stated. The OWL is certified to NATO STANAG 4569 Levels 4a/4b for mine protection, capable of resisting a 10 kg explosive detonation beneath both wheel and hull, with options for further upgrades.
Pretoria’s geopolitical tightrope
Paramount’s move into Ukraine underscores the growing role of African companies in global defence supply chains, even as their home governments navigate complex geopolitical considerations. South Africa’s position is particularly sensitive, given its historical ties with Russia and its stated policy of non-alignment in the conflict.
While Pretoria maintains diplomatic relations with Moscow, it also asserts its commitment to diplomatic efforts to resolve the conflict. Paramount’s independent pursuit of opportunities in Ukraine, however, demonstrates a willingness among some South African businesses to operate outside the constraints of the country’s delicate diplomatic balancing act. The strategic partnership between Paramount Greece and MAC HUB, announced on , signifies a broader trend towards European-Ukrainian defence industrial integration and the strengthening of sovereign defence capabilities.
