Soak the beans
Rinse the dried white beans under cold water. Place them in a large bowl, cover with plenty of cold water, and soak for 12–16 hours. Drain and rinse before cooking.
Brown the beef
Heat olive oil in a large heavy-bottomed pot over medium heat. Add the beef cubes in a single layer and brown for 6–8 minutes, turning occasionally.
Cook the onion
Add the diced onion and cook for about 5 minutes until soft and translucent.
Add the pastes
Stir in the tomato paste and red pepper paste. Cook for 2 minutes to remove the raw paste flavor and deepen the color of the stew.
Add beans and liquid
Add the soaked beans, hot water or beef stock, and bay leaf if using. Bring to a gentle boil.
Simmer slowly
Reduce the heat to low, partially cover the pot, and simmer for 1½–2 hours, stirring occasionally.
Season near the end
When the beans are almost tender, add salt, black pepper, and paprika if using. Continue simmering for 10–15 minutes.
Adjust consistency
If the stew is too thick, add a little hot water. If it is too thin, simmer uncovered until the broth becomes rich and slightly thick.
Rest before serving
Remove from heat and let the stew rest for 10–15 minutes before serving.