Cut onion, bell pepper, potato, and beef into bite-sized pieces.
Heat oil in a pot and sauté the onions.
Add the beef and cook until browned.
Add bell pepper and potatoes, and stir-fry together.
Add paprika powder and mix well.
Add tomato paste and water.
Season with bay leaves, salt, and pepper.
Simmer on low heat for 40 to 50 minutes.