Calls for DA MP Mark Burke’s removal from finance committees amid Reserve Bank investigation

Democratic Alliance (DA) MP Mark Burke is facing calls for his removal from Parliament’s finance-related committees after the High Court dismissed a challenge by fintech company Kastelo over a Reserve Bank blocking order linked to suspected exchange-control contraventions involving about R4 billion.

Kastelo is led by Burke’s brother, Nicholas Burke, who serves as its chief executive officer.

The Reserve Bank’s allegations have prompted both the African National Congress (ANC) Parliamentary Caucus and the Economic Freedom Fighters (EFF) to call for action over Burke’s continued participation in Parliament’s finance-related oversight structures.

The ANC has called on the DA to remove Burke from the Standing Committee on Appropriations and his alternative membership of the Standing Committee on Finance, pending the conclusion of the relevant investigations.

It said it was “simply untenable” for the Finance Committee to exercise oversight over South Africa’s financial architecture while an MP associated with a company under scrutiny for alleged violations of financial laws remained part of the committee.

It said Burke was entitled to defend himself and that Kastelo was entitled to challenge the allegations, but maintained that the Reserve Bank should be allowed to complete its investigation without interference.

The EFF has also called for the investigation to be pursued to its conclusion, saying the allegations contained in the Reserve Bank affidavit raised serious concerns about Kastelo’s activities and Burke’s position as a senior DA leader.

The EFF said the allegations went beyond ordinary administrative or regulatory infringements and warranted further investigation.

It also pointed to Burke’s parliamentary responsibilities, noting that he serves on the Standing Committee on Appropriations and as an alternate member of the Standing Committee on Finance.

The EFF said the investigation should be completed without special treatment because of Burke’s political position.

It called for any criminal conduct established through the investigation to be referred for prosecution.

The ANC and EFF’s calls come as the Reserve Bank’s investigation into Kastelo continues.

The Reserve Bank must be protected.