2) Heat the coffee, water and chocolate chips in a saucepan over low heat, stirring often until chocolate has melted entirely. Add the coffee-chocolate mixture to the creamed sugar and butter.
3) Beat in the eggs, 1 at a time until incorporated, and then mix in the vanilla essence. Combine the flour, baking powder, salt, cinnamon and nutmeg in a mixing bowl and stir together with a fork until incorporated. Gradually beat the dry mixture into the wet mixture. Finally, fold in the raisins and walnuts.
4) Butter and lightly dust a bundt pan with flour. Pour the cake batter into the pan and bake for about 45 to 50 minutes or until a sharp knife point inserted into the cake comes out clean.
5) Allow the cake to cool to room temperature on a rack before inverting. Dust with icing sugar and serve.