Heat the olive oil in a large skillet over medium heat.
Add the chopped onion and garlic; sauté until translucent.
Toss in the red and green bell peppers and cook for 5 minutes.
Stir in the chopped red chili, paprika, cumin, and cinnamon. Cook for 2 minutes.
Add the ground beef and cook until browned, breaking it apart with a spoon.
Mix in the tomato puree, chopped tomatoes, and brown sugar. Stir well.
Season with salt and pepper. Reduce the heat and let it simmer for 25–30 minutes.
Add the kidney beans and simmer for another 10 minutes.
Garnish with fresh cilantro if desired. Serve hot with rice or bread.