Heat olive oil in a large pot over low heat and sauté your diced onion for about 3–4 minutes until softened.
Toss in your diced bell pepper and cook for another 4 minutes, stirring now and then. Then add the garlic and let it cook for about a minute.
Stir in the tomato paste and cook for 2 more minutes to bring out that deep tomato flavor.
Toss in the ground beef and cook for around 10 minutes, breaking it up and stirring as you go until it’s browned.
Pour in the beef broth and canned tomatoes. Give it a good stir and bring everything to a boil.
Add the remaining tomato paste, brown sugar, salt, pepper, paprika, chili powder, and cumin. Stir it all together and let it simmer for 30 minutes.
Stir in the red beans and simmer for another 10 minutes. If it’s looking a little too thick, you can always splash in some extra broth.