Heat oil in a wide pan over medium heat. Put in potatoes and carrots and cook until lightly browned.
Remove potatoes and carrots from pot then transfer them onto a plate with a paper towel. Set aside
In the same pan, remove the excess oil and leave at least 2 tbsp of the oil. Saute garlic until golden brown, then add the onion and saute until softened, Toss bay leaf and mix for a minute.
Add beef, stir occasionally, and cook until lightly browned.
Add liver spread and stir,
Add tomato sauce, tomato paste, water and chili peppers. Bring to a boil.
Sprinkle with salt and pepper to taste.
Add coconut milk, stir.
Cover and cook for about 2 hours or until beef is tender over low heat.
Add potatoes, carrots and wait until tender.
Add cheese and cook until cheese is melted and sauce is thickened.
Add bell peppers and olives then wait for another 1 to 2 minutes until tender.
Then cover and simmer for at least 3 minutes.
Serve while hot. Share and enjoy!