01 - Heat olive oil in a large pot over medium heat. Add chopped onion and cook until softened, about 3 to 4 minutes.
02 - Add minced garlic and diced red and green bell peppers. Sauté for 3 more minutes until tender.
03 - Incorporate ground beef and cook until browned and no longer pink, breaking it apart with a spoon. Drain excess fat if necessary.
04 - Sprinkle chili powder, ground cumin, smoked paprika, dried oregano, cayenne pepper, salt, and black pepper over the meat. Stir and cook for 1 minute until aromatic.
05 - Stir in tomato paste, then add canned tomatoes and beef stock. Mix thoroughly to combine.
06 - Bring the mixture to a simmer. Reduce heat to low, cover, and cook for 20 minutes, stirring occasionally.
07 - Stir in drained kidney beans and simmer uncovered for 10 to 15 minutes until the stew thickens to desired consistency.
08 - Taste and adjust seasoning as needed. Serve hot, optionally garnished with fresh coriander, sour cream, or grated cheddar cheese.