It's a galaxy of savory meat and veggies!
Heat the oil in a big saucepan on medium heat. Add the bacon and cook for 5 to 6 minutes until crispy. Add the beef and cook and stir with a wooden spoon to break it up. Cook and stir for 15 minutes or until browned.
Add the onions, capsicums, garlic and chopped chillis. Cook for another 5 to 6 minutes until the veggies are soft. Add the chilli powder and continue to cook and stir for 1 minute or until fragrant.
Add the tomatoes and 1 cup of cold water. Get the mix up to a boil, then turn the heat down to medium-low. Let the pan simmer, partially covered, for 30 minutes.
Add the beans and crank the heat up to medium. Cook for for another 15 minutes or until beans are heated through and sauce is nice and thick.