Heat olive oil in a deep skillet over high heat. Add onions and garlic; cook and stir until onions are softened, about 5 minutes. Stir in red and green bell peppers; cook and stir until peppers are firm but tender, 5 to 7 minutes. Mix in beef broth, cumin, curry powder, seasoning salt, garlic powder, turmeric, pimenton, oregano, and pepper.
Submerge chicken thighs, skin side down, half way into broth mixture; stir to coat chicken. Bring to a boil; cover and reduce heat to low. Simmer until chicken is no longer pink, about 40 minutes.
Stir potatoes into the chicken mixture until mostly submerged; check that chicken thighs are still skin side down. Bring to a boil; cover. Reduce heat; simmer until potatoes are soft and chicken is cooked through, about 1 hour.