20 Rand

Pick 129 covers the Mboweni and Gill Marcus signature varieties of the 2005–2009 series — two governors whose tenures were separated by the brief appointment of Tito Mboweni's successor. Marcus had previously served as Deputy Governor and ANC MP before returning to the Bank as Governor in 2009, making her signature on this note a small footnote in South African monetary politics.

The colour-shifting ink on this issue was introduced partly in response to a wave of high-quality counterfeiting that had troubled earlier Rand series in the late 1990s. The shift from green to gold is pronounced enough to detect easily under normal lighting.