Chop the peppers and onion. Mince garlic cloves. Slice the potatoes into even pieces.
Heat olive oil and butter in a nonstick skillet over medium-high heat. Add sliced potatoes and cook until golden brown, about 6 minutes. Remove potatoes and set aside.
In the same skillet, sauté chopped peppers until soft, approximately 3 minutes. Add ground beef and cook until browned.
Stir in minced garlic and chopped onion; cook until fragrant. Incorporate sweet paprika, black pepper, Italian seasoning, salt, chili flakes, and tomato paste, mixing thoroughly.
Return the browned potatoes to the skillet along with chopped parsley. Pour in chicken broth and cover. Simmer for about 10 minutes or until potatoes are tender.
Sprinkle grated cheddar cheese evenly over the skillet contents. Cover again and allow cheese to melt completely. Serve hot garnished with extra parsley.
Notes
Feel free to add more vegetables like carrots or peas for extra nutrition.
For a spicier dish, increase the amount of chili flakes.