Place cannellini beans into a large container and cover with several inches of cool water; let soak 8 hours to overnight. Drain and add to a large pot. Cover with fresh water and cook on low heat until beans are tender, 45 minutes to 1 hour.
Heat oil in a skillet over medium-high heat while beans are cooking. Add bacon and sausage and cook until browned, 5 to 10 minutes. Transfer meats to a bowl, reserving some of the grease in the skillet.
Cook onions in the reserved grease until browned, 5 to 10 minutes. Add to bowl with meats.
Stir meat mixture, bay leaves, and allspice into the cooked beans and bring to a simmer. Add tomatoes, marjoram, garlic, salt, and pepper and continue to simmer, 10 to 15 minutes. Add water if there is not enough liquid in the pot.
Melt butter in a small saucepan over low heat, add flour, and stir into a paste. Remove from heat and add to stew; stir in paprika powder. Simmer until stew has thickened, about 15 minutes.