Heat the olive oil in a large skillet over medium-high heat. Add the ground beef and cook, breaking it up with a spoon, until browned. Drain off any excess grease.

Add the chopped onion and bell peppers to the skillet with the beef. Cook, stirring occasionally, until the vegetables begin to soften, about 5-7 minutes.

Stir in the minced garlic, smoked paprika, oregano, cumin, and cayenne pepper (if using). Cook for another minute until fragrant, stirring constantly to prevent the garlic from burning.

Pour in the undrained diced tomatoes, rinsed black beans, and beef broth. Stir everything together, scraping up any browned bits from the bottom of the skillet.

Bring the mixture to a simmer, then reduce the heat to low, cover the skillet, and let it cook for 15-20 minutes, or until the sauce has thickened slightly and the flavors have melded.

Season generously with salt and freshly ground black pepper to taste. Stir well.

Garnish with fresh chopped cilantro or parsley before serving.