Rinse the rice under cold water until the water runs clear. Set aside.
In a large skillet or pan, heat the olive oil over medium heat. Add the diced onion, green bell pepper, and minced garlic. Sauté for 5-7 minutes, until the vegetables are softened.
Stir in the tomato paste, ground cumin, paprika, dried oregano, cayenne pepper (if using), salt, and pepper. Cook for another minute to toast the spices and incorporate the flavors.
Add the rinsed rice to the skillet and stir to coat it with the sofrito mixture.
Pour in 2 cups of water and bring the mixture to a boil. Reduce the heat to low, cover the skillet, and simmer for about 15-20 minutes, or until the rice is cooked and the liquid is absorbed. Be sure to follow the recommended cooking time for your specific rice type.
Once the rice is cooked, fluff it with a fork. Gently fold in the black beans, ensuring they are evenly distributed.
Cover the skillet again and let the rice and beans heat through for an additional 5 minutes.
Remove from heat and let it sit, covered, for a few minutes before serving.
Garnish with fresh cilantro or parsley.
Serve hot as a main dish or perfect side dish for the whole family. Enjoy!