An Indonesian court has sentenced Gojek co-founder and former education minister Nadiem Makarim to 10 years in prison after finding him guilty of corruption in a ruling that could further weigh on investor confidence in Southeast Asia’s largest economy.
According to Reuters, Makarim has maintained his innocence and argued that the case against him is politically motivated, a claim echoed by some academics and rights activists.
The verdict comes at a sensitive time for Indonesia’s financial markets, with concerns already mounting over governance and policy unpredictability. The rupiah and equities have weakened this year following negative outlook revisions by credit rating agencies.
Market sentiment has also been pressured by ongoing scrutiny from index provider MSCI, which is reviewing whether to downgrade Indonesia amid concerns over market transparency.
The ruling is expected to intensify debate over regulatory and governance risks in the country, particularly as investors assess the broader implications for political stability and institutional independence.
