In a large skillet, heat 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 an additional 3-4 minutes until the peppers are tender.
Season the mixture with cumin, chili powder, salt, and pepper. Stir well to combine.
Pour in the beef broth and soy sauce, bringing the mixture to a simmer. Let it cook for about 5 minutes to allow the flavors to meld.
Stir in the lime juice and cooked rice, mixing everything together until well combined and heated through.
Serve the beef and pepper mixture in bowls, garnished with fresh cilantro.
