Suspended SARS commissioner Tom Moyane. FILE PHOTO: ANA

Good morning. This is all the latest business news that you need to know today.

1. Sars sets up key teams to unlock illicit SA economy

The South African Revenue Service (Sars) is rolling back ill-fated decisions taken under embattled Tom Moyne's leadership, reintroducing key teams to tackle the illicit economy, as it seeks to meet the R1.345 trillion tax collection target. 

2. Securing a sustainable future for agriculture in Western Cape

The development of commercially viable smallholder farmers is a key element in securing a sustainable future for agriculture in the Western Cape.

3. The rand goes down again 

The rand is taking another knock, it was last trading at R13.88/$ this morning. 

4. Steinhoff makes a comeback 

Steinhoff's share price gained another 6% yesterday.

 It is now up almost 12% since its results came out on Friday, and is now 28% higher than at its weakest point this year.

5. Nigeria still leads West Africa hotel expansion

Nigeria is still holding its top position for hotel development in West Africa, despite a slight reduction on last year

6. R1.3bn winter boost for KZN economy through tourism

Recently there has been a drop in the tourism numbers for Durban, however, the new tourism developments and the decrease in prices of airfares are predicted to put the city back on the map according to Tourism Update.

7. Today is International Plastic Bag Free Day

Most South African supermarkets have recently announced efforts to curb their use of plastic packing.

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