ANC says DA’s removal of Mark Burke doesn’t remove accountability over R4bn Kastelo probe

The African National Congress (ANC) has said the Democratic Alliance’s decision to remove Mark Burke from finance-related parliamentary roles does not absolve him of accountability over matters linked to fintech company Kastelo.

Who, what and why

The DA announced on Wednesday that Mark Burke would no longer serve on Parliament’s finance committee or in the party’s finance cluster while a company of which he is a beneficiary is the subject of a South African Reserve Bank (SARB) inquiry. DA Parliamentary Leader George Michalakis said the move was taken “out of an abundance of caution, and to avoid any perceptions of a conflict of interest.”

ANC response

The ANC said removing Burke from committees does not erase the questions arising from the SARB investigation, court proceedings and allegations involving transactions worth approximately R4 billion. The party said the central issue is “whether a person who founded and led a company subjected to regulatory scrutiny over suspected exchange-control contraventions can continue to hold positions of political responsibility without facing full accountability.”

Standards of accountability

The ANC argued that while removing Burke from a committee could address conflict-of-interest concerns, it “could not replace legal processes, investigations or the obligation to answer questions about matters of public interest.” The party said Burke must “co-operate fully with all investigations and allow the law to take its course.”

The ANC noted that “the SARB intervention, the blocking of funds and the subsequent court ruling dismissing Kastelo’s challenge demonstrate that this matter cannot simply be dismissed as a private commercial dispute.”

Background on the SARB probe and Kastelo

The SARB investigation concerns Kastelo, the fintech company that Burke founded and previously led, amid allegations of suspected exchange-control contraventions involving approximately R4 billion. Kastelo challenged the SARB’s blocking of funds in court, but the challenge was dismissed.

Burke has previously said he resigned from the company in 2024 to pursue a political career and ceased serving as chairperson of the broader Kastelo Group in February 2026.

Political fallout

The ANC accused the DA of applying a different standard of accountability when allegations involve its own leadership structures, saying: “The DA has consistently demanded accountability from others when allegations arise, yet appears to apply a different standard when confronted with serious questions involving its own leadership structures.”

The ANC said Burke’s removal from finance-related committees “did not provide immunity or bring the matter to an end,” adding that “political office cannot shield anyone from scrutiny, and no individual is above the law.” The party called on relevant authorities to “follow the facts, follow the money” to ensure accountability.

DA replacement

The DA has appointed Kingsley Wakelin to take over as its finance spokesperson following Burke’s removal from the party’s finance cluster.