Heat olive oil in a large pot over medium heat.
Sauté the diced onions until translucent.
Add minced garlic and cook for another minute.
Add cubed beef and brown on all sides.
Stir in paprika, salt, and pepper.
Add chopped carrots and bell peppers.
Pour in diced tomatoes and beef broth, bring to a boil.
Reduce heat and let it simmer for at least 1.5 hours.
Stir occasionally, adding water if it gets too thick.
Serve hot, garnished with fresh parsley.