Combine dry spices: In a small bowl, mix the smoked paprika, cumin, chilli powder, garlic powder, onion powder, oregano, cayenne pepper, cocoa powder, sugar, salt, and pepper.
Add wet ingredients: Stir in the tomato paste and olive oil until everything is well combined.
Adjust consistency: Add 1-2 tablespoons of water to thin the paste to your desired consistency. It should be thick but spreadable.
Taste and adjust: Taste the paste and adjust the seasoning if needed. Add more chilli powder for heat, cocoa powder for richness, or sugar to balance the flavours.
Store: Transfer the paste to an airtight container or jar. It can be stored in the fridge for up to 1 week.