Paramount Group in talks to develop Africa’s defense industry

2019/18/02 – South African defense company Paramount Group expects to sign agreements with four African governments this year to set up production facilities in their countries, its chairman said on Sunday.

Paramount, Africa’s largest privately owned defense firm, has established manufacturing capabilities to meet demand from specific domestic markets before, including in India, Jordan, and Kazakhstan.

It is in talks with four countries in west and east Africa over deals that it expects to sign this year. A further three agreements could be signed in southern Africa in two years’ time.

“Africa really is innovative,” Ivor Ichikowitz told Reuters at the IDEX military exhibition in Abu Dhabi.

“There is a huge amount of skill. There is a huge amount of human capital on the African continent that makes what we are planning to do very achievable.”

Paramount, which has maintenance and overhaul operations in Africa, has started to implement some agreements, he said, declining to disclose further details.

Reuters

Sahel-Elite | FILE PHOTO – Paramount Group military aircraft are seen on display at the Africa Aerospace and Defence expo at the Waterkloof Air Force Base near Pretoria, South Africa, September 21, 2018. REUTERS/Joe Bavier

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