It may be an imitation but someone went to a great deal of effort to create it. The "overprint" is not simply printed on top of the stamp, you can clearly see white space between and around the overprint and the stamp. waelshami, can you tell if the "overprint" is glued to the stamp?
Clearly it is as bookbndrbob surmises and rod22 states, with it also possibly being an illustration from an old stamp album.
The genuine basic French Colonies stamps are typographed and this looks lithographed to me. This has been all printed in one go, not with an overprint on an existing thing like the genuine. The white outline is typical of corrections/changes made to litho plates, which are flat. So parts of the design can easily be erased and the additional lettering added in. The white areas didn't need to be filled in since this was not intended to defraud collectors but to serve as a illustrated example.
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