1.Heat oil in a large saucepan over high heat; cook onion, garlic, anchovy and chorizo, stirring, until onion softens. Add capsicum, paprika and saffron; cook, stirring, about 1 minute or until fragrant. Add tomatoes and the water; bring to the boil. Reduce heat; simmer, uncovered about 10 minutes or until capsicum is tender and sauce thickens.
2.Add prawns; cook, stirring occasionally, about 5 minutes or until prawns are cooked through.
3.Serve stew topped with olives and parsley.
The colour of olives depends on their level of ripeness. Green olives are picked before fully ripened, while black olives are those picked when ripe. Green olives, therefore, are generally denser, firmer and more bitter than black ones. Serving suggestion: Slices of grilled ciabatta or wood-fired bread.