Standard Bank Is in Talks to Acquire Kenya’s NCBA Group (2)

Standard Bank Group Ltd.’s Kenyan unit is in talks to acquire NCBA Group Plc, according to people with knowledge of the matter, a move that would potentially create the East African nation’s third-biggest lender by assets.

The continent’s biggest bank by assets holds a 75% stake in Nairobi-based Stanbic Holdings Plc, which has received internal approvals for the talks with NCBA, according to some of people, who asked not to be identified as the information is still private.

Chief executive officers from the two Kenyan banks — Joshua Oigara at Stanbic and John Gachora at NCBA — ...