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Pour the olive oil into a large skillet over medium heat. Once hot, add the onion, garlic and bell peppers. Sauté until slightly softened, about 3-5 minutes then push to one side of the pan.
Add the ground beef to the empty side of the skillet and break into small pieces using a spatula until browned, about 5-7 minutes.
Mix the ingredients in the pan together then add the taco seasoning, tomato sauce, tomato paste, green chiles and beans. Stir until everything is well combined and let cook for 2 minutes.
Add the rice and broth. Stir until mix mixed and bring to a boil. Once boiling, reduce the heat to a low simmer, cover the skillet with a lid and cook until the rice is tender and fully cooked, about 12-15 minutes.
Remove the lid, add the olives and scatter the cheese over the top of the skillet. Cover again for just a couple of minutes until the cheese is melted.
Garnish with cilantro before serving.
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