Preheat oven to 200ºC. Soak the almonds in boiling water and stand for 10 minutes to soften. Drain the water, remove the skins from the almonds and set aside.
Place the capsicums and red chillies in a small roasting pan and drizzle with olive oil. Roast for 30 minutes or until the capsicum starts to brown. Add the cherry tomatoes to the pan and roast for a further 15 minutes. Remove from the oven and stand for 5-10 minutes to cool.
Peel the capsicum, remove the seeds and transfer the flesh to a food processor. Deseed the chillies depending on how spicy you want the sauce and transfer to the food processor. Add the remaining ingredients and blend until smooth. Taste and adjust seasoning as necessary.
Transfer to a serving bowl and garnish with a pinch of smoked paprika. Serve immediately or refrigerate until required.