20 Pula

P#27 spans the 2004–2006 signature transition from B. Gaolatihe to Mrs. L.K. Mohohlo, who served as Bank of Botswana Governor from 1999 to 2016 — one of the longer tenures for a central bank governor on the continent. Notes bearing the Gaolatihe signature are the earlier printings and slightly less common in high-grade circulation survivors.

De La Rue's relationship with Botswana dates to independence-era printings. The security package here is modest by mid-2000s standards — watermark and thread only, no optically variable ink — reflecting a calculated cost decision for a denomination that saw heavy day-to-day use in domestic commerce.