Indonesia’s sovereign wealth fund Danantara has confirmed it is acquiring shares in GoTo, the parent company of Gojek and GoPay.
The move forms part of broader efforts to enforce new state caps on platform commission fees.
Antara News reported that Chief Executive Officer Rosan Roeslani announced the investment on Tuesday (May 5). He said the state intends to gradually increase its holding in the technology company.
House of Representatives Deputy Speaker Ahmad Muzani indicated earlier in May that the state had begun acquiring shares in ride-hailing operators.
The aim is to push platform commission rates down from the current 10%–20% range to a maximum of 8%.
“We have bought into the company, and we will gradually raise our shares,”
Roeslani told media representatives at the Coordinating Ministry for Economic Affairs in Jakarta.
He did not disclose the current size of the stake or the ultimate target for state ownership.
President Prabowo Subianto introduced Presidential Regulation No. 27 of 2026 during a Labour Day address, backing the state’s intervention.
The regulation aims to restructure the economics of the gig economy and protect workers from income volatility.
Alongside the 8% commission cap, the new rules require platform operators to provide comprehensive social security coverage for drivers.
The government views the combination of regulation and direct state investment as necessary to improve conditions across Indonesia’s digital transport sector.
Featured image credit: GoTo
