East Africa finance

Shares of NCBA Group Plc have hit an all-time high of KSh 75.25, rising 8.27 percent from KSh 69.50, after confirmation that Africa’s largest lender, Standard Bank Group Ltd., is in advanced talks to acquire the Kenyan bank — a deal that could dramatically reshape the structure and ownership of Kenya’s banking sector. According to Bloomberg, the Johannesburg-based banking giant, which holds a 75 percent stake in Nairobi-listed Stanbic Holdings Plc, has already received internal approvals to engage NCBA in buyout negotiations. If completed, the merger would create Kenya’s third-largest lender by assets, with a combined balance sheet of approximately…