Wash and pat dry the chicken breast. Season both sides with salt and pepper.
Heat oil in a large frying pan over medium-high heat. Brown the chicken breast on both sides for 4-5 minutes. The chicken does not need to be cooked through at this stage. Remove and set aside.
Cut the bell peppers into strips and the onions into cubes.
Cut the browned chicken into bite-sized pieces. Return to the pan and fry over medium heat for 2-3 minutes. Add the onions and fry for 5 minutes.
Add the tomato and broth. Simmer uncovered over medium heat for 10 minutes until the liquid reduces slightly. Add the processed cheese and stir until melted.
Add the bell peppers, cover, and simmer for 5 minutes over medium heat until the chicken is fully cooked through (internal temperature of 74°C / 165°F). Add more broth during cooking if you prefer a thinner sauce.
Season with salt, pepper, and paprika powder to taste.