In a large skillet, heat the olive oil over medium heat. Add the diced onion and cook for about 3-4 minutes until softened.

Add the ground beef to the skillet, breaking it apart with a spatula. Cook until browned, about 5-7 minutes. Drain excess fat if necessary.

Stir in the sliced red and green bell peppers and minced garlic. Cook for another 3-4 minutes until the peppers are tender.

Sprinkle in the chili powder, cumin, salt, and pepper. Mix well to combine.

Pour in the beef broth, soy sauce, and Worcestershire sauce. Bring the mixture to a simmer and let it cook for about 5 minutes, allowing the flavors to meld.

Serve the beef and pepper mixture over the cooked rice. Garnish with chopped cilantro if desired.