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20 Francs

Issuer Banque du Congo Belge
Year 1948
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Composition Cotton paper
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Reverse lettering BANK VAN BELGISCH CONGO TWINTIG FRANK BETAALBAAR OP ZICHT ZEVENDE UITGIFTE -1948 DE NAMAKER WORDT DOOR DE WET MET DWANGARBEID GESTRAFT
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Protection description Elephant's head watermark visible in the circular unprinted zone at lower right on obverse / lower left on reverse
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Comments

By 1948, the Banque du Congo Belge had been issuing notes through Thomas De La Rue for decades, a relationship that kept production entirely outside the colony itself — a common enough arrangement for Belgian colonial currency, but one that created real vulnerabilities during the Second World War when shipping routes were disrupted. The postwar P#15 series of which this is a part ran across multiple signature varieties (the "F" suffix indicating a specific signing combination), making complete set assembly harder than the denomination's relative availability might suggest.

The watermark is the sole mechanical security feature on this issue — no security thread, no UV-reactive elements.

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