It's not a listed variety in either SG or South African Colour Catalogue. As you suspect, it may be an inking problem. These are nice stamps for study, as you are discovering
Nor is it listed as a specific variety in the "Bible" of South African philately, The Union Handbook (actual title is "Handbook/Catalogue Union of South Africa Stamps" or "Stamps Of South Africa Handbook Catalogue" depending on edition). The UHB does however state with regard to this series: ... broken or missing letters in the place name arises from over-inking or solidifying of the ink in the recesses of the plate during the printing process. It takes many forms such as .. SOUIH ... AFNICA, AIRCA .. and many others, and because most are of a general nature and fairly numerous, these varieties have been grouped together and listed under each denomination as "Deformed letters due to inking" . Clive
AlbumEasy - Free software for creating custom stamp album pages ChromaMate - Compare, match, analyse, free colour matching software ImageSleuth - Images, hidden inside images, revealed. A retroReveal alternative PSGSA - The Philatelic Society for Greater Southern Africa
I really like this first Union issue. Not only do they look good, it's always worth looking out for interesting postmarks as well, either use in SWA or even 1st day of issue.
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