I must agree that this is most likely an African piece. The clenched fist was a common symbol used there as a sign of resistance and defiance just as it was in many countries other than the Philippines. The only thing that even looks remotely Philippine to me is the general styling of the leather sheath, but with the use of the brass eyelets, the manner in which the belt loops are attached and the tooling I think that the sheath was made post WWII and most likely somewhere south of the border as a replacement.
Best,
Robert
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