10 Emalangeni

P#A44 marks Eswatini's first hybrid substrate issue, a significant materials shift for a central bank that had issued on conventional cotton-linen stock since the country's rename from Swaziland in 2018. Hybrid polymer-paper composites were adopted by several smaller African issuers through the early 2020s as a durability compromise — longer-lived than pure paper without the full retooling costs of an all-polymer series. Giesecke+Devrient, who have supplied Eswatini since the early Lilangeni series, handled production in Leipzig.

The security package is relatively restrained for a 2024 issue — watermark and thread only, without the windowed foil elements now common at this denomination tier.