DA Removes Mark Burke As Finance Spokesperson Amid SARB Investigation, South Africans Debate Move
- The Democratic Alliance has taken a decision regarding Dr Mark Burke, the party's Finance Spokesperson
- The party made the move following a South African Reserve Bank investigation into a fintech company Burke co-founded
- South Africans weighed in on the decision taken by the party, with some comparing it with other political parties
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Byron Pillay, a Briefly News journalist, has dedicated a decade to reporting on the South African political landscape, crime, and social issues. He worked as a newspaper journalist for 10 years before transitioning to online.
WESTERN CAPE - The Democratic Alliance (DA) has removed Dr Mark Burke from his position as the party's finance spokesperson, as well as from his seat on Parliament's finance committee.
DA Parliamentary Leader George Michalakis confirmed the decision was reached through mutual consultation and described it as a precautionary measure.
Michalakis said the step-down was taken "out of an abundance of caution" to eliminate any perception of a conflict of interest while a South African Reserve Bank inquiry remains active.
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SARB probe into Kastelo prompts DA's decision
At the heart of the matter is Kastelo, a financial technology company that Burke co-founded. The South African Reserve Bank is investigating the firm over suspected exchange-control violations involving approximately R4 billion.
A High Court ruling recently upheld a SARB order freezing Kastelo's accounts after finding reasonable grounds for suspicion. Burke has sought to distance himself from the company's current operations.
He claimed that he stepped back from active involvement at Kastelo in 2024 when he entered politics and formally relinquished his role as group chairperson in February 2026. He has also stated that he is not personally accused of criminal conduct and had previously recused himself from any parliamentary business that touched on the Reserve Bank.
South Africans react to the news
The announcement drew varied reactions on social media, with some comparing it to how matters involving other political parties are handled.
Gontse Gee remarked:
"Where there is smoke, there is fire."
Venicia Xoroxloo Williams questioned his innocence:
"So, there is a lot more to it. If he was innocent, why the removal?"
Khulekani Maponya drew a contrast with opposition formations:
"See how quiet it is. But if it was MKP, yooh.”
Hein Welman also compared the DA's handling of the matter:
"If it was an ANC member, he would have gotten a retirement package, a house in Clifton, full medical, and moved to the top of the cadre list to be deployed in the private sector."
Heugh Rodney was blunt, writing:
"Admission of guilt."
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Source: Briefly News
