1. Begin by heating the vegetable oil in a large pot over medium heat. Add the beef pieces, browning them on all sides. This should take about 5-7 minutes. Remove the beef and set aside.
2. In the same pot, add the chopped onion, garlic, and ginger. Sauté until the onion becomes translucent, about 3-4 minutes.
3. Add the red bell peppers and cook for another 5 minutes to let the flavors meld together.
4. Stir in the crushed tomatoes, tomato paste, paprika, cayenne pepper, thyme, and beef broth. Bring the mixture to a simmer.
5. Return the beef to the pot, ensuring it’s covered by the liquid. Season with salt, pepper, and a teaspoon of sugar if desired to balance the acidity of the tomatoes.
6. Cover the pot and let the stew simmer for about 1.5 to 2 hours, or until the beef is tender and the flavors are fully developed. Stir occasionally to prevent sticking.
7. Taste and adjust seasoning as needed before serving.

Personal tip: If you find yourself with a few extra minutes, let the stew sit off the heat for a bit before serving. This allows the flavors to marry even further, just like my mom used to do with her magical tomato concoctions.