If using dried beans, soak them overnight and cook until tender. If using canned beans, rinse and drain them.

In a pot, heat olive oil over medium heat. Add chopped onion and bell pepper, and sauté until softened, about 5 minutes.

Add minced garlic and cook for an additional minute until fragrant.

Stir in the cooked black beans, vegetable broth, cumin, chili powder, salt, and black pepper.

Bring to a simmer and cook for about 20 minutes, stirring occasionally.

Serve hot, garnished with fresh cilantro and lime wedges.