Wash and clean the bell peppers, remove the seeds, and cut into large pieces. Peel the onions and cut into large pieces. Clean and chop the garlic.
Heat the olive oil in a large saucepan over medium-high heat. Add the bell peppers, onions, and garlic, and sauté for 10 minutes, stirring occasionally. Stir in the tomato paste and season with chili powder to taste. Add the canned tomatoes (roughly 2 small cans or 1 large can) and minced meat, breaking the meat into small pieces as you stir. Add the instant broth to taste. Simmer for 10 minutes, breaking up the tomatoes with a wooden spoon. If the mixture becomes too thick, add water as needed.