DA removes Mark Burke from finance committee amid SARB probe

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 the perception of a conflict of interest while the investigation into alleged exchange control contraventions continues.

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

The investigation relates to transactions involving about R4bn, according to reporting based on the Reserve Bank’s court papers, which allege 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 company.