Puree the ginger, small onion, garlic, and green onions in a blender with a small amount of water until smooth to form a paste.
Place the beef chunks in a large pot. Add the blended seasoning paste, bouillon powder, salt, pepper, dried thyme, and paprika. Mix well to coat the beef evenly.
Add 4-5 cups of water to the pot. Bring to a boil, then reduce the heat and simmer until the beef is tender. That may take about 1½-2 hours (less if using a pressure cooker). Once tender, remove the meat and reserve the stock.
Heat 2 tablespoons of canola oil in a large pot or Dutch oven over medium-high heat.
Add the cooked beef and sear it for 1-2 minutes (until it develops a rich brown color). Remove from the pot and set aside.
In the same pot, add the diced onion—sauté for about 5 minutes or until the onion is softened and translucent.
Add the minced garlic and thyme. Stir for another minute until fragrant.
Stir in the hot sauce (or chili sauce), paprika, allspice, brown sugar, and browning sauce. Mix well to combine.
Add the ketchup, sliced bell peppers, carrots, and potatoes. Cook for 2-3 minutes, stirring occasionally.
Return the browned beef to the pot. Pour in 2 cups of the reserved meat stock and 1 cup of water. Stir to combine.
Cover the pot and simmer for about 15 minutes or until the potatoes cook through and the sauce thickens slightly.
Check the seasoning and adjust with additional salt and pepper as needed. If the stew is too thick, add more broth or water to reach your desired consistency.
Turn off the heat once the stew is ready and the flavors are well combined. Serve hot.