In a large skillet, heat the olive oil over medium heat. Add the diced onion and sauté for about 3-4 minutes until translucent. Add the minced garlic and cook for an additional 1 minute until fragrant.

Add the ground beef to the skillet, breaking it apart with a spatula. Cook until browned, about 5-7 minutes. Drain any excess fat if necessary.

Stir in the chili powder, paprika, salt, and pepper. Mix well to combine.

Add the uncooked rice, diced tomatoes (with their juice), and beef broth to the skillet. Stir to combine all ingredients.

Bring the mixture to a boil, then reduce the heat to low. Cover the skillet and let it simmer for about 20 minutes, or until the rice is cooked and has absorbed most of the liquid.

Once the rice is tender, remove the skillet from heat and stir in the shredded cheddar cheese until melted and creamy.

Garnish with chopped fresh parsley before serving.