State street’s Lacaille sees ‘actual changes’ in Japan

Washington and Tokyo plan to upgrade defense ties to maintain security and peace in the Asia-Pacific region. President Joe Biden and PM Fumio Kishida have said the alliance between the two countries is "unbreakable."

Roll out the red carpet for Japan. Prime Minister Fumio Kishida is being feted with a speech before a joint session of Congress and a White House state dinner. Key to the courtship is Tokyo's ramped-up role in policing the Pacific. Like the Germans in Europe, the Japanese have had to shed the post-war pacifism that's even embedded in their constitution. It’s with an eye to China, North Korea and Russia that they’ve drawn closer to South Korea and supported Ukraine.

Here's what's been making the business headlines in sub-Saharan Africa this week.

Nigeria’s Minister of Finance, Wale Edun says 4.83 trillion naira from T-Bills and Bonds issued in the first quarter of this year was used to pay part of the Ways and Means advances from the Central Bank of Nigeria. Sam Chidoka, CEO of Kairos Capital joins CNBC Africa for more on this discussion and Nigeria's debt management strategy.

A year after Lula came to power, his gamble has paid off: deforestation has been halved in the Amazon. But this success comes at the cost of sacrificing another ecosystem that's just as vital to Brazil: the Cerrado.

Some top Nigerian banks are eyeing the international and local capital markets to raise fresh capital in a bid to meet the recapitalisation exercise by the Central Bank of Nigeria. Egie Akpata, Chairman of Skymark Partners joins CNBC Africa to examine options available to banks.