DA strips Mark Burke of key finance roles amid SARB probe
· The South African
The Democratic Alliance (DA) has stripped Mark Burke of his finance spokesperson role and removed him from Parliament’s finance committee as a South African Reserve Bank (SARB) investigation into Kastelo Proprietary Limited unfolds.
Visit biznow.biz for more information.
Kingsley Wakelin has taken over as the party’s finance spokesperson.
The DA said Burke’s removal aims to prevent any perceived conflict of interest while the central bank investigates the matter.
DA says it will wait for formal findings
DA Federal Council chairperson Ashor Sarupen said on Tuesday that the party would respect the investigation and the independence of state institutions.
He said the DA would not interfere with the probe or prejudge its outcome.
Sarupen said the party maintained a “strict stance on accountability”, but would base its decisions on verified legal findings rather than assumptions.
The DA said it would take appropriate action if a competent authority established wrongdoing.
Burke responds to SARB investigation
Burke has also responded to reports about the investigation, saying he fully respects the SARB’s mandate to investigate possible exchange control contraventions.
However, he disputed reports about his current relationship with Kastelo.
Burke said he is not the chairperson of Kastelo Proprietary Limited and has no operational role in the company.
He said he initially resigned from Kastelo in 2024 to pursue his political career. He later served as chairperson of the broader Kastelo Group before leaving the position in February 2026.
Burke also addressed a recent High Court judgment involving the matter, describing the ruling as procedural.
He maintained that he has acted ethically and taken steps to prevent his previous business interests from conflicting with his parliamentary duties.
According to Burke, he formally informed DA leadership and the secretary of Parliament’s finance committee that he should recuse himself from all matters involving the SARB.
GOOD questions Burke’s place in Parliament
The GOOD Party has called for Burke to be removed from Parliament’s Standing Committees on Finance and Appropriations and Public Accounts.
In a statement earlier this week, GOOD Secretary-General Brett Herron questioned whether Burke should continue serving as a parliamentary financial watchdog while the investigation remains unresolved.
“What is alarming about the Burke case is not only the scale of the alleged contraventions by his company, Kastelo, but also the modus operandi manipulating the modest wealth of relatively poor people to maximise financial benefits to the privileged,” Herron said.
Herron said the DA had the right to decide who represented it on financial matters. However, he argued that allowing Burke to continue serving on parliamentary financial oversight structures would damage Parliament’s integrity.
The SARB has not made a finding of wrongdoing against Burke.