Heat the olive oil in a large skillet or pot over medium heat. Add the diced onion and cook for 2 to 3 minutes, until soft and translucent. Add the minced garlic and cook for 30 seconds, until fragrant.
Add the ground beef and cook it, breaking it apart with a spatula, until it's browned and cooked.
Add the diced bell peppers and tomatoes. Cook for 2 to 3 minutes, until slightly softened.
Add ginger, tomato paste, cayenne pepper, thyme, paprika, and season with salt and pepper to taste. Cook for 2-3 minutes until the tomato paste darkens and the spices are fragrant.
Stir in the rice until every grain is coated in the beef and spice mixture.
Pour in the chicken stock and add the bay leaves. Stir to combine, cover, and bring to a quick boil. Then reduce the heat to low and cook for 15 to 20 minutes, until all the stock is absorbed and the rice is cooked through.
Remove from heat and let it rest, covered, for 5 minutes. Remove the bay leaves, fluff with a fork, and serve.