Warm the oil in a large Dutch oven over medium-low heat. Add the onion, season with salt and pepper, and turn to coat. Cover and cook for 10 minutes.
Uncover, stir, and reduce heat to low. Continue cooking about 10 minutes until golden and very soft.
Add the garlic, paprika, hot paprika or cayenne pepper, and tomato paste, and cook stirring constantly for 1 minute. Add the beef and season with salt and pepper. Cook for 2 minutes, stirring a couple of times.
Stir in broth and bring to a boil; then cover and reduce heat to simmer until tender, about 3 hours. Season to taste and serve hot.