DA Removes Mark Burke From Finance Roles Amid Probe

The Democratic Alliance removed Member of Parliament Mark Burke from the party's finance cluster and Parliament's Standing Committee on Finance on August 19, 2026. The decision follows an investigation by the South African Reserve Bank into Kastelo, a fintech and cryptocurrency arbitrage company co-founded by Burke. The central bank alleges Kastelo bypassed exchange control regulations to move approximately R4 billion offshore, potentially using clients' investment allowances without their full knowledge.

Burke, who previously served as the party's federal finance chairperson, maintains he resigned as chairman of the Kastelo group in February 2026 to enter politics and denies any wrongdoing. Despite these claims, the Johannesburg High Court recently dismissed an appeal by Kastelo to unfreeze its bank accounts, with the judge ordering costs on a punitive scale. Kingsley Wakelin has replaced Burke as the party's finance spokesperson.

The African National Congress has dismissed the DA's internal reshuffle as insufficient. ANC Chief Whip Mdumiseni Ntuli filed a criminal complaint against Burke and Kastelo in Cape Town, asserting that Burke should resign from Parliament if the allegations are proven. The GOOD party also criticized the company's operations, describing them as a predatory lending operation.