In a large pot, heat the olive oil over medium heat. Add the diced onion and sauté until translucent, about 5 minutes.
Add the minced garlic, bell pepper, and carrots to the pot. Sauté for an additional 5-7 minutes or until the veggies are tender.
Stir in the ground cumin, smoked paprika, and cayenne pepper. Cook for another minute until fragrant.
Add the black beans, vegetable broth, and diced tomatoes (with juices) to the pot. Stir to combine.
Bring the mixture to a boil, then reduce heat to low and simmer for 25-30 minutes, allowing flavors to meld.
Use an immersion blender to blend the soup until desired consistency (smooth or chunky). If you don’t have an immersion blender, carefully transfer part of the soup to a regular blender, blend, and return it to the pot.
Season with salt, black pepper, and lime juice. Adjust the heat as necessary if you prefer it spicier.
Serve hot, garnished with fresh cilantro.
Notes
Adjust the cayenne pepper to control the heat level.