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10 Rand

Issuer South African Reserve Bank / Suid-Afrikaanse Reserwebank / Libhangesilulu LeNingizimu Afrika
Year 2023
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Composition Cotton paper
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Reverse description The reverse is dominated by a large intaglio vignette of two white rhinoceroses — an adult and a calf — rendered in fine line engraving against a green and teal underprint with geometric guilloche patterns. The denomination numeral '10' appears in blue at lower centre, while decorative Ndebele-inspired geometric motifs occupy the corners. The bank name appears in Afrikaans at upper right and in Zulu/Swati at lower centre.
Reverse lettering SUID-AFRIKAANSE RESERWEBANK
LIBHANGESILULU LeNINGIZIMU AFRIKA
10 RAND
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P#148 sits within the current Mandela series, which the Reserve Bank has incrementally updated since the centenary notes of 2018 — the 2023 revision introduced subtle security upgrades rather than a full redesign, keeping production costs manageable while addressing counterfeiting vulnerabilities identified in the field. SABN has printed South African notes domestically since 1984, an arrangement the Reserve Bank has defended against periodic privatisation pressure.

Cotton substrate was retained over polymer, a decision that continues to draw debate given the Reserve Bank's own trials with polymer alternatives.