RwandAir says Qatar Airways close to acquiring stake

"It's been going on for a while, we have been discussing it for almost five years. So, now, we're really at the tail-end of it," Makolo said.

For the past five years, Qatar and Rwanda have been working on a deal which would give the Gulf nation's airline a 49% stake of RwandAir for an undisclosed sum, the FT report added.

Qatar Airways and RwandAir did not immediately respond to requests for comment outside regular business hours.

Earlier this year, Qatar Airways CEO Badr Mohammed Al Meer said that Qatar Airways will soon announce an investment in an airline in southern Africa.

Qatar Airways in 2019 took a 60% stake in a new $1.3 billion international airport being built in Rwanda and has code share agreements with several airlines in Africa including RwandAir.