Heat the vegetable oil in a large pot over medium heat.
Add the chopped onion and cook until softened and translucent.
Stir in the minced garlic and cook for another minute.
Add the meat chunks and cook until browned on all sides.
Stir in the chopped tomatoes, red bell pepper, and green bell pepper.
Cook until the vegetables are tender and the tomato starts to break down.
Add ground paprika, cumin, black pepper, and salt. Mix well.
Pour in the beef or chicken broth and add the bay leaf.
Bring to a boil, then reduce the heat to low.
Cover and simmer for about 1-1.5 hours, or until the meat is tender and cooked through. Stir occasionally and add more broth if necessary.
Remove the bay leaf and discard.
Garnish with chopped cilantro or parsley before serving.
Enjoy your meal!