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Equatorial Guinea buys shares after massive explosion

Kampala, Uganda, hundreds of rescuers and volunteers wander through the devastated neighborhoods in Equatorial Guinea’s largest city on Monday to search for survivors a day after the blast. Big time erupted in Central African countries.

Television footage showed pickup trucks, taxis, vans and ambulances crossing Baja port carrying people injured in Sunday’s blast. The explosion occurred from improperly stored landmines stored at a military base near the Atlantic coast, President Teodoro Obiang Nguema Mbasogo said on Sunday.

On Monday, the clinic had no beds, according to state media. The country’s health ministry said the death toll rose to 98, with more than 600 hospitalized. Officials said they expected the dead to climb.

The blast was compared to the massive Lebanon blast at the port of Beirut in August, which killed 21

0 people and damaged approximately $ 15 billion in property and the 2002 explosion at the Armed Forces in Lagos, Nigeria, where Killing more than 1,000 people.

The Equatorial Guinea disaster was a major test for the world’s longest-serving president, Obien. On Monday, the main opposition party accused him of mismanaging the crisis, which it said was revealing the dire state of the oil-rich nation’s health care system, a small country of 1.5 million people it source. Africa’s third-largest crude reserve has been hit by years of widespread corruption under Mr Obien, who has been in power since 1979 when Jimmy Carter served as US president.

Oil income and a small population have driven the country to rank among the highest per capita income countries on the continent, although economists and human rights groups have long said the majority of the population lives at just under $ 2. Per day Mishandling and corruption left the country unprepared for last year’s oil price slump.

“Seeing the injured arriving in taxis and vans without an ambulance is a sufficient indicator that Equatorial Guinea is in terrible hands,” said the main opposition party, Convergence for Social Democracy. “No government”

Equatorial Guinea’s health ministry said the government had sent a team of psychiatrists to care for those injured in the blast, which began on Sunday afternoon and continued into late night. The government has not addressed concerns raised by the opposition about providing shelter to large numbers of people whose homes were destroyed.

In 2019, the country reached out to the International Monetary Fund for a $ 280 million grant loan, with criticism from rights groups that the country was too rich to borrow money. Equatorial Guinea earns more than $ 10,000 per capita, higher than countries such as Brazil and China, according to the World Bank.

Authorities in Switzerland, the US, South Africa and France are investigating Obien over corruption, claiming that the president and close allies have pumped hundreds of millions of dollars from public funds in the country it has. About half a million people remain in poverty.In 2019, Swiss authorities seized and auctioned 25 super cars belonging to Teodorin Obiang Nguema, President Obiang’s son, defense minister and apparent heir.

Mr Obien faces growing pressure from international rights groups and lenders to uproot corruption with little success. His soldiers, which consist of some 1,500 service members, are poorly trained and poorly equipped, and Mr Obien has been using foreign forces to secure his personal safety.

Over the past three years, Uganda has retained some 300 troops in Equatorial Guinea, providing security to Mr Obiang and the nation’s major work sites.The Obiang family also hired security personnel. Of Israel, who walked with the president’s son as he explored the ruins on Sunday.

Write to Nicholas Bariyo at nicholas.bariyo@wsj.com.

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