I think these letters may have been latten filled, and it seems a good possibility this is a late 17th century cavalry (probably schiavona) blade .
The fact that the latten filled crescent arcs are there suggests more that this blade was inscribed in Europe.
These letters are too deeply stamped to have been done in the native perameters, and while the apparently poorly struck letters bear some resemblance to native alphabets, I am inclined more to European origin.
Still, this entire assemblage gives us great perspective to the kinds of influences which native armourers experienced, and it is hard sometimes to discern where European style ends and native takes over.
Frankly, this places this blade in 'jackpot' category!!!
It has become ever harder to find early blades in these contexts.
Ibrahiim, your notes and observations continue to perfectly illustrate the close parallels between European influence and these native interpretations. The undulating lines which are known in European context as serpents on blades in Italy and I think Spain in degree surely must have been seen by armourers in the Sahara. In their native folk religion it seems I have seen references suggesting the snake and magic of holy men were synonymous.
Blue Lander, again, thank you for sharing this amazing sword here!