In a large skillet, heat olive oil over medium heat. Add diced onion and cook until translucent, about 3-4 minutes.

Add minced garlic and cook for an additional 1 minute until fragrant.

Increase the heat to medium-high and add the ground beef. Cook until browned and fully cooked, breaking it apart with a spatula, about 5-7 minutes. Drain excess fat if necessary.

Stir in the diced red and green bell peppers, salt, black pepper, paprika, and crushed red pepper flakes (if using). Cook for another 5 minutes until the peppers are tender.

While the beef and peppers are cooking, prepare the rice. In a separate pot, bring the beef broth to a boil. Add the uncooked rice, reduce heat to low, cover, and simmer for about 18-20 minutes or until the rice is tender and the liquid is absorbed.

Once the rice is cooked, fluff it with a fork and stir in the soy sauce.

To serve, place a scoop of rice in a bowl and top with the beef and pepper mixture. Garnish with fresh cilantro.