Author: Amanda Cartey

Inflation for November has slightly increased to 23 percent, up from 22.1 percent in October.

This rise was attributed to the higher prices of certain food items in the market over the past month.

The Ghana Statistical Service shared the update at a news conference in Accra on December 4, 2024.

Food inflation for November 2024 climbed to 25.9 percent, a decrease from 28.8 percent in October 2024.

Similarly, non-food inflation decreased to 20.7 percent in November, down from 21.5 percent in October 2024.

Additionally, inflation for locally produced goods rose to 25.4 percent in November 2024, compared to 24.6 percent in October 2024, while inflation for imported goods increased to 17.6 percent in November, up from 16.3 percent in October 2024.

Minister of Finance, Dr. Mohammed Amin Adam, has revealed that the ongoing Parliamentary deadlock is denying government access to US$300 million in World Bank funding, vital for economic stability and managing fiscal deficits.

An unresolved impasse has left parliament in an indefinite recess as NPP and the NDC dispute control of the majority of seats.

Mr Amin disclosed during his monthly economic update on Tuesday that the lack of progress in passing key legislation has halted Ghana’s access to a $300 million World Bank loan.

“We should have passed some legislation that would have qualified us for USD 300 million from the World Bank. However, the World Bank has not disbursed the money because those bills have not been passed, as Parliament has not been functioning as it should,” the Minister of Finance, Dr. Mohammed Amin Adam, said during his monthly economic update on Tuesday, December 3, 2024.

However, he expressed hope that the deadlock would soon be resolved, enabling Ghana to secure the much-needed funds without major delays.

He further assured the public of the government’s dedication to implementing its policy priorities despite the ongoing political stalemate.

“We are focused on delivering our policy priorities for sustained economic growth. The budget has been presented to Parliament. We are waiting for Parliament’s own time. If this current Parliament doesn’t pass it, the next Parliament will approve it,” the minister said.

He emphasised that: “Certainly if parliament is not functioning, it affects the government.”

The deadlock in parliament has raised concerns over the tendency for a potential government shutdown next year, particularly impacting the payment of salaries for public sector workers.

The finance minister remains confident that a prompt resolution will enable the government to present the mini-budget and prevent further delays.

“To say that the economy has not been affected would be an understatement,” Dr. Adam admitted, acknowledging the far-reaching consequences of the parliamentary stalemate.

Parliament is set to resume on Monday, December 16, 2024, potentially clearing the path to resolving the impasse and unlocking the vital financial assistance for the nation.

In a quest to promote calm and stability ahead of Ghana’s elections, the Volta Regional branch of the National Peace Council organised a Peace Walk.

Partnering with groups such as Peace Ghana, the National Commission for Civic Education (NCCE), Ho We Dey Ambassadors, Rotary Club, and the Ho Broadcast Club, the event brought together community leaders, organisations, and residents to champion peace.

Highlighting the importance of preserving Ghana’s cherished peace, Apostle Courage Godswill Elorm, Chairman of the Planning Committee for the Volta for Peace Walk, addressed participants during the event.

Citizens were encouraged by Apostle Courage, a key member of the National Peace Council, to prioritise unity and shun violence throughout the electoral process.

“Peace is the cornerstone of our democracy,” Aps Courage declared during the walk. “It is our collective responsibility to preserve the harmony that has kept our nation strong and united. Elections are not about conflict; they are an opportunity to express our democratic rights and choose leaders who will serve the country.”

Attendees connected strongly with the message as they joined the walk through key areas of Ho. Organisers sought to highlight the risks of electoral violence and the value of fostering dialogue and tolerance.

Messages promoting peaceful behavior were displayed on banners and placards carried by participants, while community leaders took the stage to stress non-violent civic engagement.

A broad coalition of organizations demonstrated strong support for the initiative. The NCCE actively engaged youth through its civic education campaigns, ensuring widespread participation.

Resources and volunteers were provided by the Rotary Club and Ho We Dey Ambassadors, showcasing the critical role of community-led efforts in promoting peace.

“Peace is a shared commitment,” said a representative from the Rotary Club. “By working together, we can ensure that our communities remain safe and that every voice is heard without fear or intimidation.”

The Peace Walk is part of a series of initiatives by the National Peace Council to engage communities across Ghana in dialogue and conflict resolution. The Volta Region, known for its diverse population and political significance, has been a focal point for peacebuilding efforts.

Aps Courage highlighted the need for continuous engagement beyond the walk.

“This is just the beginning. We need to take the message of peace into our homes, schools, and workplaces. Let us set an example for future generations that peace is non-negotiable.”

With Ghana’s elections drawing near, initiatives such as the Volta for Peace Walk highlight the need for unity and collaboration.

The National Peace Council, along with its partners, is dedicated to creating a peaceful atmosphere where democracy can flourish free from violence.

The enthusiastic participation and support from various sectors of society reflect a collective determination to safeguard Ghana’s democratic future. As Aps Courage aptly put it, “Let us give peace a chance—not just during elections, but every day.”

A private legal practitioner, Samson Lardy Anyenini, has opposed calls for sanctioning electorates who voluntarily disclose the candidates they voted for. 

He explained that while a person’s vote is meant to remain private, the law ensures the secrecy of voters’ choices and punishes election officials who fail to protect that privacy.

Mr. Anyenini emphasized that the constitutional rule about vote secrecy is intended to protect voters, and it is the responsibility of election organizers to ensure that no one can see how a person casts their vote.

“If I voluntarily disclose my vote, I cannot be punished for voluntarily disclosing my vote,” he emphasized on Joy FM’s Super Morning Show on Tuesday.

His comments come after the public display of ballots during Monday’s Special Voting exercise, which involved thousands of security personnel, journalists, emergency service staff, and EC officials in 14 out of 16 regions.

The National Democratic Congress raised concerns about the incident, claiming it undermines the secrecy of the ballot and could potentially influence the integrity of the process. 

There have been similar instances in the past and in December 2023, police at the Tamale Central constituency arrested an elector for taking photographs of their ballot paper after casting their vote, which is considered an electoral offence. The vote was declared spoiled.

Under the Representation of the People Law, 1992 (PNDCL 284), it states: “Any election officer who, directly or indirectly, reveals the vote of any voter or fails to maintain the secrecy of the ballot as required by this Law, commits an offence and is liable, on summary conviction, to a fine, imprisonment for a term not exceeding two years, or both.”

Article 49 under Chapter 7 of Ghana’s 1992 Constitution states: “At any public election or referendum, voting shall be by secret ballot, and the result of the election or referendum shall be declared by the returning officer as soon as practicable after the close of the poll.”

National Democratic Congress (NDC) flagbearer, John Mahama, has revealed that there are 14 proposals in the party’s 2024 manifesto aimed at advancing the development of Zongo communities when the NDC comes into power.

He indicated that the National Chief Imam’s manifesto, which was sent to the NDC, has been incorporated into the party’s plans.

“In our 2024 manifesto, there are 14 policies designed to help Zongo communities when the NDC comes into power. Even before the Chief Imam presented his suggestions, 12 of these policies were already in the manifesto,” he said.

Mahama made these remarks during his campaign tour in the Ashanti Region, where he emphasized that the proposals are specifically aimed at addressing the needs and challenges faced by Zongo communities.

He assured the community of the NDC’s commitment to improving their living conditions and ensuring their development if the party is elected.

Mahama further stated that the NDC is the best party for managing and developing the Zongo communities, with a proven track record that no other political party can match.

Member of Parliament for Ayawaso West Wuogon, Lydia Seyram Alhassan, has reacted to claims from her opponents that she tried to influence voters during the Special Voting at the Legon Police polling center.

The NDC parliamentary candidate for Ayawaso West Wuogon, John Dumelo, has voiced his unhappiness with Lydia Alhassan’s actions.

He accused Lydia Alhassan, the NPP candidate, of breaking election rules by allegedly handing out food packs to people waiting in line to vote during the ongoing Special Voting.

“Why are you sharing food to the people in the queue? Why are you doing that? Why, as for us, we can’t share? We can share. If they want me to share, I will also share, but let us respect the rules of the Electoral Commission. Don’t share anything with the people in the queue who have not voted yet. You are sharing food, and we don’t know what is in it. And yet you are sharing it with the people who have not voted yet. What kind of stupidity is this? Why do they think we can’t do the same? We can do the same and even worse. They shouldn’t even try us,” he fumed.

The NPP MP has dismissed the accusations, saying they are false and meant to damage her reputation.

She believes her opponents are always looking for chances to attack her character, even though she hasn’t done anything to harm them.

Why is it that they will not mind their business and they are always trying to attack me? They always do this and here I am by the grace of God, I have a temperament that is able to contain all of this. They do all of these and I am Lydia so they try to do all things against me,” she also fumed.

Lydia also spoke about claims that she gave rice and oil to a security officer at the University of Ghana to sway his vote.

She explained that the officer is actually a leader from her opponent’s party and said the accusations are completely untrue and just political propaganda.

“The gentleman in a viral video talking about me giving him rice is an NDC executive. I didn’t come out to say anything about it because we are five days away from the elections and I wouldn’t do anything to mar the hard work that I have put into this. They always mention my name and try to destroy my hard-earned reputation. I have taken enough but I thank God for the temperament that he has given me and I will continue doing my good work…” she explained.

Peasant Farmers Association of Ghana (PFAG) have revealed that Ghana spends US$2million weekly due to the import of 70 percent of its onions.

According to PFAG, a large share of onion imports originates from Niger, Mali, and other Sahelian countries.

Former Executive Director of PFAG, Dr. Charles K. Nyaaba, finds the situation troubling and alarming.

He said at a B&FT at an Accountability Forum for Political Parties in Accra,that, although
Ghana produces enough of certain crops like cassava, maize, peanuts, cabbage, millet, yam, and plantain, the country still relies on imports for essential foods like tomatoes, pepper, onions, rice, and poultry.

Ghana spends over $2.5 billion annually on food imports, with more than 60% going to rice, poultry, and sugar. PFAG highlights a steady rise in tomato imports from Burkina Faso, estimating the $400 million spent in 2022 may have increased by now.

Dr. Charles Nyaaba attributes this high import rate to a lack of policies and support for small-scale farmers.

The World Food Programme (WFP) reports that between June and August 2024, around 1.05 million people in Ghana experienced severe food shortages.

While this is an improvement from 1.37 million in 2023, Dr. Nyaaba believes these numbers are still concerning, given Ghana’s potential for agriculture and food production.

“Smallholder farmers are the dominant actors providing about 80 percent all food for industry, consumption and for export. Despite their importance, these farmers face numerous challenges, leading to producing below capacity” Dr. Nyaaba said.

According to PFAG, agriculture input cost has risen by 30 percent this year alone; affecting the acquisition of inputs including fertiliser and agrochemicals.

Also, the cost of mechanization, fuel and energy has increased between 25-30 percent, without considering the cost of labour and other factors.

Other concerns of the sector, the Association noted, include, difficulty in accessing credit, limited irrigation, poor implementation of government projects and political interference in sector policies, among others.

PFAG is optimistic that whoever is given the mandate to govern after this year’s general elections will commit to prioritising and supporting agricultural development to secure a better future for farmers and the nation at large.

A former Member of Parliament (MP) for Kumbungu, Abdulai Mohammed Mubarak, popularly known as Ras Mubarak, has filed a lawsuit against the parent company of MTN Ghana, Scancom PLC, over a failed roaming service while he was outside Ghana.

According to the former lawmaker, he relies heavily on MTN Ghana for his communication needs, including business and family interactions, when traveling abroad.

As usual, he activated the roaming service on his MTN number before traveling to the United Arab Emirates, Bahrain, Turkey, and Saudi Arabia for business in September this year.

However, upon arriving at his first destination, Ras Mubarak was disappointed as all attempts to access the roaming service he had activated before leaving the country failed.

Repeated complaints to MTN’s Customer Service team received no response, he said.

This, he claims, caused significant harm to his business and family while he was away.

Mr. Mubarak strongly believes that filing a lawsuit against MTN is the best way to ensure he receives fair compensation.

Below are excerpts from the legal document filed in court against MTN by Ras Mubarak:

“a) A declaration that the Defendant’s failure or refusal to make the roaming service available to the Plaintiff to enable him to carry out his business transactions and meet family responsibilities while abroad constitutes a breach of contract.
b) A declaration that the Defendant’s breach of its mobile phone service contract with the Plaintiff caused the Plaintiff grave reputational injury as a public figure.
c) An order directed at the Defendant to pay the sum of One Million US Dollars (US$ 1,000,000.00) or its Ghana Cedi equivalent as damages for its breach of the mobile phone roaming service contract with the Plaintiff.”

Member of Parliament for Ayawaso West Wuogon and NPP Parliamentary Candidate, Lydia Seyram Alhassan, has expressed confidence in a significant victory for the New Patriotic Party (NPP) and for the Ayawaso West Wuogon constituency.

During today’s Special Voting exercise held at the Legon District Police Headquarters, Madam Lydia was asked about her expectations for the polls, which are just 5 days away.

She said, “I expect nothing but a massive win for the NPP!… a massive win for Lydia Seyram Alhassan! I have engaged the community. I have really worked hard!”

Maa Lydia Seyram Alhassan is facing competition from John Dumelo as they both vie for support from constituents in Ayawaso West Wuogon.

While both candidates have garnered significant backing from their respective supporters, the final outcome remains to be seen.

As the campaign heats up, all eyes are on the announcement that will follow the December 7 elections, where we hope to see which candidate will ultimately secure the seat for Ayawaso West Wuogon.

“I expect a massive WIN on the main day!” – Lydia Seyram Alhassan, MP for Ayawaso West Wuogon and NPP Parliamentary Candidate, expresses her satisfaction with the ongoing Special Voting exercise. She urges special voters to come early and participate in the process.… pic.twitter.com/6c3mzsKtiH

— CITI FM 97.3 (@Citi973) December 2, 2024

A student at Ola Senior High School in Ho, Amanda Korda, urgently needs GHC245,430.00 to undergo a surgery called Embolization.

The surgery is necessary to treat Amanda’s condition, known as Right Occipital Arteriovenous Fistula (AVF).

Her family is appealing to the general public for financial support to save their daughter’s life.

In a post shared by @SneakerNyame_ on X, the family provided a mobile money contact for donations towards the surgery.

“Contributions can be sent to 0243208974 (Vida Agorku, Mother),” the post stated.

Check the post below:

Amanda Korda, a student of Ola Senior High School, Ho is in a dire need of a surgery called Embolization to correct the Right Occipital Arteriovenous Fistula (AVF).

The family is in need of GHC245,430.00 for the procedure, and they are appealing to anyone who can support them… pic.twitter.com/5ZBGacOVsm

— Dr Sneaker Nyame (@SneakerNyame_) December 2, 2024

The Bank of Ghana’s Monetary Policy Committee has decided to keep the interest rate at 27 percent.

In its final meeting for the year, the Bank explained that the time for inflation to fall within the target range of 6–10 percent has been pushed back to the last quarter of 2025 instead of the earlier prediction of the third quarter of the same year.

“In the near-term, strengthening of the currency will augur well for future price developments. Under the circumstances, the Monetary Policy Committee decided to keep the policy rate unchanged at 27 percent”, the statement said.

The committee noted that inflation is expected to remain high due to rising food prices, the impact of earlier currency depreciation, increases in fuel costs, and adjustments to utility tariffs.

It explained that the sharp rise in food prices this year, combined with the earlier rapid drop in the value of the cedi, has disrupted efforts to bring inflation down and slowed progress in reducing price increases.

“At the time of the last MPC meeting, average inflation forecast a year ahead which stood at 19.0 percent has increased slightly to 20.1 percent at this forecast round”, it said.

Seed Conservation Technique Course Project Coordinator at the Forestry Research Institute of Ghana, under the Council for Scientific and Industrial Research (CSIR-FORIG), Dr. Joseph Mireku Asomaning, has issued a warning about the potential risks facing Ghana’s seed supply.

He cautioned that the country could experience a shortage or even a complete loss of seeds required for planting and reforestation due to the destructive impact of illegal mining activities.

At the opening ceremony of a week-long intensive training programme on “Ex Situ” conservation of seeds in the country, Dr Asomaning expressed concern over the “massive destruction of seed sources in the country due to ‘galamsey’ activities.”

Adding that “It is likely the country’s biodiversity will soon be lost if care is not taken to reverse the situation.”

Efforts are however underway by expertise from the Institute to regenerate the country’s forest estate and store seeds, describing the training as crucial to Ghana.

Dr Asomaning however explained the need to remove seeds from the forests and conserve them, with the training aimed at learning new conservation techniques. According to Dr. Asomaning, developing seed sources is essential for protecting the forests.

“We are doing our best by using the existing plantation to obtain our seeds, but we need to create many more seed sources ourselves, or reforestation activities in the country will decline,” he stressed.

Ex Situ conservation involves taking seeds out of their natural habitat and preserving them in a controlled environment, often for research or other specific purposes.

It was organised by CSIR-FORIG and had experts from Guinea, Sierra Leone, and the United Kingdom in attendance to discover mediums of protecting Ghana’s seed.

Ex Situ was held in collaboration with the Millennium Seed Bank (MSB) and Royal Botanic Gardens (KEW).

The Volta North Regional Police Command has successfully intercepted a large shipment of cannabis, also known as “wee,” that was headed for Nigeria.

Following a tip-off from a local informant, the police set up a checkpoint at Kadjebi-Okanta, located along the Eastern Corridor Road.

During the operation, officers found several tons of marijuana hidden in secret compartments of a long truck.

The driver and his accomplice were arrested on the spot and are now under investigation.

According to a report by adomonline.com, this operation is part of ongoing efforts to combat drug trafficking in the region.

The Volta Regional Police have reaffirmed their commitment to tackling drug trafficking and ensuring the safety of local communities.

Investigations are still underway to identify other individuals involved and to dismantle the larger drug trafficking networks operating in the area.

Passengers traveling from London will soon enjoy direct flights from London Gatwick Airport to Kumasi Prempeh I International Airport, starting December 3, 2024.

This new route is the result of a partnership between the Ghana Airports Company Limited (GACL) and Ethiopian Airlines.

The announcement was made by GACL in a statement on November 28, 2024, “in collaboration with Ethiopian Airlines, will operate direct flights from London Gatwick Airport to Kumasi Prempeh I International Airport (PIA) starting December 3, 2024.”

The flight schedule is as follows:

* Departure

London Gatwick: 2.10am

* Arrival

Kumasi Prempeh I International Airport: 9.05am

* Departure

Kumasi Prempeh 1 International Airport: 11am

* Arrival

London Gatwick: 6pm

“The next flight is scheduled for 15th December 2024 to accommodate the Christmas holidays. Subsequent flight schedules will be published in the coming weeks,” the release noted.

The West African Examinations Council (WAEC) has dismissed claims that it is losing its headquarters in Ghana to Nigeria due to unpaid debt.

A media report suggested that WAEC had failed to pay a GHC73 million debt, which was cited as the reason for the relocation.

However, the Head of Public Relations for WAEC, John Kapi, has dismissed the reports, indicating that nothing has changed the decision made years ago for WAEC to be headquartered in Ghana.

“There hasn’t been any discussion in this direction. So the law that established WEAC indicates that the headquarters of the WEAC will be situated here in Accra.

“Ever since there has not been any change to that. So, I guess that we cannot confirm that we have not had any such discussions and there are no plans as such.”

WAEC is a major examination board in West Africa, created by law to set exams required in the public interest for English-speaking West African countries. It also conducts the exams and awards certificates that are internationally recognized, comparable to those of other examining bodies.

The countries where students write WAEC exams are Gambia, Ghana, Liberia, Nigeria, and Sierra Leone, and they all follow the same international timetable.

This year, WAEC reported total of 569,236 candidates, comprising 282,703 males and 286,533 females from 19,505 participating schools entered for the school examination. 

The BECE for private Candidate recorded a total entry of 1,390 candidates out of which 750 were males and 640, females. 

The African Center for Quality Journalism and Research has revealed that 89% of Ghanaian voters are exposed to fake news as the country prepares for 2024 December polls nears.

This information was gathered by the centre through a two-month research study between October and November 2024 on the topic, “Disinformation Status Report of Ghana.”

The study was aimed at understanding the threat posed by disinformation campaigns to Ghana’s 2024 general election as well as assessing the Ghanaian electorate’s knowledge of disinformation campaigns, their ability to detect fake news in the media, and ways to combat the spread of false information.

Out of the 2,000 people nationwide who participated in the survey, close to 90% proved to be exposed to fake news amidst preparation towards December polls.

“The findings disclosed that about 89.2% of respondents said they have encountered fake news in the media, 6.2% said they have not, and 4.6% answered “Maybe” to the question, “Have you encountered fake news in the media?” a part of the survey indicated.

The survey by the African Center for Quality Journalism and Research also found that about 64.4% of Ghanaians simply ignore fake news or false information they come across in the media without warning others or speaking out against it.

This discovery was made when respondents were asked what actions they take upon encountering fake news in the media.

“…64.4% of respondents say they ignore such news, 35.6% say they “comment on it, 19.7% say they “report it,” and 7.6% say they “send it to a friend.”

Additionally, the survey found television to be the most trusted source of news or information, chosen by 37.4% of the respondents.

Online news websites earned 26.7% trust, while social media followed closely with 26%, making them the next most trusted sources of information.

Newspapers were also trusted by 6.1% of respondents, while 3.1% said they trusted information from family and friends.

This highlights the varying levels of trust people place in different sources of information.

Speaker of Parliament, Alban Sumana Kingsford Bagbin, has expressed determination to transact all businesses of the 8th Parliament before the transition to the 9th Parliament.

This comes after he declined the request by the Majority Leader for Effutu Constituency in the Central Region, Alexander Afenyo-Markin, for him to recall the House to consider twenty-two (22) outstanding urgent government and public businesses two days ahead of the December 7 polls.

Speaker Bagbin said he is pessimistic that Parliament will be able to transact these businesses within two days. He also noted that recalling members of Parliament would interrupt campaign activities, which would not serve the national interest.

Nonetheless, the Speaker is resolute that all parliamentary business will be handled and completed before the transition to the next Parliament.

“I wonder how the proposed twenty-two items could be transacted within two days. I accordingly suggest that government prioritizes these businesses together with others not captured by your memo for consideration after the conduct of the General elections on the 7th of December 2024. The House will resume sitting after the elections to complete all essential matters before a seamless transition to the 9th Parliament of the Fourth Republic of Ghana,” Mr Bagbin assured.

Reacting to this, Mr Afenyo-Markin, said he cannot force the Speaker to reconvene the House if he chooses otherwise.

For him, he can only leverage constitutional means to address the NPP caucus’ grievances.

“I cannot force him. I would use constitutional means. If he shuts the door, it’s up to him. But I can tell you that for the next one week we will focus on our elections with a determined mind to win and win well for parliament and for our flagbearer, so that if they are still being difficult and acting undemocratic, we know that we have a government in waiting to implement these important policies ,” the Effutu MP indicated

Historically, Parliament suspends sittings before general elections to enable MPs to connect with their constituents and address pressing matters.

However, concerns have been raised about the potential implications of this hiatus, including a legislative backlog that could delay critical national decisions.

The Speaker has assured that pending matters will be prioritized when Parliament resumes, emphasizing the importance of continuity in governance after the electoral process.

Political analysts believe the Speaker’s stance reflects a broader understanding of the need for stability and focus during election periods.

A survey by the African Center for Quality Journalism and Research reveals that 64.4% of 2,000 Ghanaians contribute to the spread of fake news.

The survey found that many individuals who come across fake news fail to take any action, allowing it to continue spreading. Most do not respond to or challenge fake articles when they encounter them.

This insight comes from a two-month research study conducted between October and November 2024, known as the Disinformation Status Report of Ghana, carried out by the nonpartisan think tank.

The report notes, “When asked about their actions upon encountering fake news in the media, 64.4% of respondents said they ignore it, 35.6% comment on it, 19.7% report it, and 7.6% send it to a friend.

The study showed that radio is the least trusted source of information for the respondents, with 0.8% of respondents selecting it.

The African Center for Quality Journalism and Research conducted this survey between October and November 2024, and 2,000 people nationwide participated.

“The study aimed to understand the threat of disinformation campaigns to Ghana’s 2024 General Election.

“It also focused on assessing the Ghanaian electorate’s knowledge of disinformation campaigns, their ability to detect fake news in the media, and ways to combat the spread of false information,” the Disinformation Status Report of Ghana said.

Meanwhile, Ghanaian technology and political experts have warn prospective voters in the nation’s December elections to ensure that they are not victims of misinformation.

The Bank of Ghana has disclosed that its Quarterly Collateral Registry Brief recorded a total of 95,340 collateral registrations for Q3 2024.

In the same quarter of 2023, BoG recorded 56,314 to 95,340 reflecting a 69.3% year-on-year growth.

Savings and Loans Companies led the registrations with 82,737 in Q3 2024, an 81.4% increase from 45,601 in Q3 2023.

Rural and Community Banks also saw growth, with registrations rising from 6,278 in Q3 2023 to 8,235 in Q3 2024, a 31.2% increase.

However, banks recorded a decline of 12.7%, with registrations dropping from 2,019 in Q3 2023 to 1,763 in Q3 2024.

Leasing companies had the fewest registrations, recording only 7 in Q3 2024, down from 11 in Q3 2023.

The number of checks done at the Collateral Registry went up in the third quarter of 2024, reaching 17,727 compared to 15,204 in the same period of 2023—a 16.6% increase.

Savings and Loans Companies did the most searches, totaling 13,049, which made up 73.6% of all searches.

Rural and Community Banks came next with 3,229 searches, making up 18.2%, while banks conducted 885 searches, or 5% of the total.

Microfinance and Micro Credit Institutions performed the fewest checks, with just 1.2% and 0.1%, respectively.