Safaricom, Kenya’s biggest mobile operator, has moved a step closer to launching one of the biggest flotations in Africa after the government saw off a legal challenge from an opposition party seeking to scupper the initial public offering ahead of a presidential election.

The government intends to sell 25 per cent of the company, already part-owned by Vodafone, in an offering on Nairobi’s stock exchange forecast to raise KSh30bn-40bn ($450m-$600m).