20 Emalangeni

Swaziland's P#21 20 Emalangeni series was issued during a politically constrained period — the kingdom operated under a royal decree banning political parties since 1973, and the Central Bank itself functioned under close royal oversight, which shaped who signed what and when. The two signature combinations reflect successive appointments within that structure, with J. Nxumalo replacing H.B.B. Oliver as one of the authorized signatories at some point in the early 1990s.

De La Rue produced this series during the same window they held contracts across much of southern and eastern Africa, and the watermark security on this issue is notably basic by the standards De La Rue was applying elsewhere at the time.