The DA has removed Mark Burke from Parliament’s finance committee and his role as the party’s finance spokesperson following a South African Reserve Bank (SARB) investigation into a company, Kastelo Proprietary Limited, with which he is linked.

While the party maintains a "strict stance on accountability" and awaits formal findings, it said it acted to avoid conflicts of interest, appointing Kingsley Wakelin as the new finance spokesperson.

On Tuesday the party affirmed its commitment to due process and the independence of State institutions.

DA Federal Council chairperson Ashor Sarupen stated that the party will not interfere with or prejudge the ongoing central bank probe, adding the party maintains a “strict stance on accountability” but emphasised that decisions must be guided by “verified legal outcomes rather than premature assumptions”.

The party vowed to not treat Burke as guilty without formal findings and that it will “act appropriately” if any “competent authority” proves wrongdoing.

Responding to media reporting on Tuesday, Burke expressed his “full respect” for the SARB's investigation into potential exchange control contraventions but urged accurate factual reporting.

Burke clarified that he is not the chairperson of Kastelo Proprietary Limited and he holds no operational involvement in the investigated company.

Burke said he previously chaired the broader Kastelo Group but exited that role in February 2026.

He added that he originally resigned from Kastelo in 2024 to pursue his political career.

Addressing the recent legal setback, Burke noted that the High Court judgment was strictly procedural.

Burke maintained that he has consistently acted ethically, taking extensive proactive steps since entering Parliament to avoid any potential conflicts of interest regarding his former business ties.

He revealed that he formally notified the DA leadership and the parliamentary finance committee secretary that he must be entirely recused from any matters involving the SARB.

POLITICAL BACKLASH

The GOOD Party said Burke is unfit to serve on Parliament’s Standing Committees on Finance and Appropriations and Public Accounts.

“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,” said GOOD secretary-general Brett Herron.

While the DA can choose whoever it wishes to speak about finance on its behalf, Herron said it besmirches Parliament’s integrity for Burke to have continued serving as a parliamentary financial watchdog.