Begin by washing your ingredients thoroughly. Cut the stew beef into smaller, bite-sized pieces for even cooking. Dice the onion finely and chop the red bell pepper into small squares.

Heat 2 tablespoons of olive oil in a large saucepan over medium heat. Once the oil shimmers, add the cubed beef, seasoning it generously with salt and black pepper. Sauté for about 8-10 minutes until well-browned.

Toss in the diced onion and chopped red bell pepper. Cook together for approximately 3 minutes until the onions become translucent.

Stir in 2 tablespoons of tomato paste, blending it with the meat and vegetables, and allow it to cook for about 5 minutes.

Pour in 3 cups of water or beef stock, sprinkle in 1 tablespoon of beef bouillon powder and cayenne pepper to taste. Bring to a boil, then reduce the heat to a simmer.

Stir in ½ cup of creamy peanut butter, mixing until it dissolves completely into the broth. Let simmer for an additional 2-5 minutes.

Serve the stew into bowls and consider pairing it with cauliflower rice or traditional white rice.