Indonesia’s sovereign investment agency, Danantara, has purchased shares in GoTo, the parent company of Gojek and GoPay, in a move linked to improving welfare protections for online motorcycle taxi drivers, known locally as ojol.

The investment, disclosed through the Indonesia Stock Exchange, represents less than 1 percent of GoTo’s total issued shares. The company said the transaction reflects continued confidence in its business fundamentals and long-term prospects.

Government Pushes Better Protection for Ride-Hailing Drivers

Indonesia’s Minister of Investment and Downstream Industry and Danantara CEO, Rosan Roeslani, said the government’s main focus is improving protections and welfare benefits for ride-hailing drivers.

According to Rosan, priorities include expanding access to BPJS Health, BPJS Employment, and increasing the value of the Holiday Bonus Allowance (BHR) for drivers.

“Danantara has already started entering, and we have discussed that for us the important thing is the welfare of online drivers, how we improve their welfare, including BPJS Health and BPJS Employment,” Rosan said, as quoted by Antara on Wednesday (May 6).

He added that the investment process has been carried out gradually since early 2026.

Danantara Encourages Changes to Digital Platform Business Models

Rosan said policy changes in Indonesia’s digital transportation ecosystem have been visible since January 2026. The shift follows directives from Indonesian President Prabowo Subianto to improve digital platform business models that previously relied heavily on aggressive marketing spending and cash-burning strategies.

According to Rosan, ride-hailing companies had spent hundreds of millions of dollars on promotional campaigns and market competition.

“Previously, ride-hailing companies were competing through marketing and burning cash worth hundreds of millions of dollars just for marketing. So we invited others to talk, there is no need for burning cash anymore, it is better to use these funds for the interests of online drivers instead of burning money against each other,” he said.

The government believes reallocating spending toward driver welfare could create a more sustainable digital transportation industry.

GoTo Welcomes Danantara Share Purchase

GoTo confirmed the share acquisition through a public disclosure submitted to the Indonesia Stock Exchange on Tuesday night in Jakarta.

GoTo Corporate Secretary RA Koesoemohadiani said the company welcomed the investment, along with investments from other stakeholders.

“We acknowledge that Danantara has purchased a number of the company’s shares through the exchange in an amount of less than 1 percent of the shares issued by the company. GoTo welcomes the investment as well as investments from all other stakeholders,” Koesoemohadiani said.

She stated that the investment demonstrates sustained confidence in GoTo’s operational performance, business fundamentals, and long-term growth outlook.

According to the company, the investment also strengthens GoTo’s commitment to sustainable operations, professionalism, and good corporate governance.

New Regulation Supports Fairer Revenue Sharing for Drivers

Discussion about Danantara’s investment intensified after Deputy House Speaker Sufmi Dasco Ahmad mentioned it during a May Day labor gathering outside the parliament building in Jakarta on May 1.

Dasco said the government’s presence as a shareholder in online transportation companies could create room for policy adjustments, including commission structures for ride-hailing drivers.

Earlier, President Prabowo Subianto announced Presidential Regulation No. 27 of 2026 on the Protection of Online Transportation Workers.

The regulation includes work accident insurance, health protection, and a fairer revenue-sharing scheme that allocates around 92 percent of earnings to drivers.

PHOTO: GOTO

This article was created with AI assistance.

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