Connect Ads, a leading digital media and technology solutions provider, has partnered with Argaam portal, a business and capital markets website, to become its sole representative for digital media solutions in the Mena region.

Argaam joins the list of global and regional pioneers in the digital sector that have appointed Connect Ads as the sole representative for their digital media solutions, a statement said.

This agreement is the first exclusive partnership with a specialised portal in the economic and financial information and news sector.

Mohamed El Mehairy, managing director of Connect Ads, an OTVentures portfolio company, said: "The partnership with Argaam portal is another significant milestone in the company’s regional reach and adds yet another quality offering to our customers in the region in terms of reach and communication with consumers."

"Connect Ads is committed to empowering companies to communicate with their audiences through multimedia and digital media. Argaam is considered one of the most important digital platforms focused on economic and financial industries, and it provides readers with the latest and most comprehensive economic and stock market news. The huge and dedicated followers’ base of Argaam is highly sought after by advertisers,” he added.

Argaam records more than 400,000 visitors a day and more than 60 million page views per month. The total number of monthly unique visitors is in the range of three million visitors. Each visit is timed 20 minutes, and is considered one of the best timings for sites with Arabic content.

Islam Zween, CEO of Argaam said: "The industry has witnessed a significant growth in online advertisements. Argaam has been working on expanding its online presence by attracting a wider range of international and regional brands to our portfolio. Our latest partnership with Connect Ads is in line with this strategy. Its strong regional and local network can develop new and diverse advertising models for brands interested to enter the Saudi market."

“Digital advertising in the Middle East and Africa is heading north,” El Mehairy said.

“The market is ripe for expansion, and digital ad spending stands at $1.5 billion this year, just over 1 percent of the $117.60 billion worldwide total. We know that user numbers are expected to surge in the coming few years and so is the digital advertising spend, and we will be there with our partners and clients to make things happen,” he added.

A study on online advertising spend in the region conducted by the Electronic Market Economy Center in Cairo stated that Saudi Arabia comes second place after the UAE, with Egypt in third place. The study showed that online advertising stood at around $1.5 billion annually and is expected to double in the next year. – TradeArabia News Service