Brown beef cubes in cooking oil. Set aside—brown onions and garlic in the same pot. Sprinkle paprika, cumin powder, and white pepper, and add the oyster sauce.
Cook the onions and garlic with spices for five to eight minutes. Sprinkle the flour over onion and spice. Stir well to incorporate the flour and form a thick paste. Gradually add in 900 millilitres of water. Stir to prevent lumps. Add sliced carrots and potatoes and combine. Add the thyme, rosemary and basil. Bring the stew to boil on medium low heat.
Crumble in the beef stock cubes for added flavour. Stir in the tomato paste for depth. Let the stew simmer for 50 minutes. Stir occasionally to prevent sticking and to ensure even-cooking.