Heat 1 tablespoon of olive oil in a medium saucepan. Saute the onion and cook for 3-4 minutes on medium heat, then add the garlic and cook for further 30 seconds.
Pour in the chopped peppers, cumin powder and sweet paprika. Cook for one more minute and add the chopped tomatoes, water and beans.
Cook for 15-20 minutes until the sauce has thickened, stirring frequently.
For a smoother consistency, add 1/4 of the chili sin carne to a blender, blend for a few seconds and pour it back into the dish.
Serve with tortilla chips, avocado, or over rice.