Heat the olive oil in a large skillet over medium heat. Add the chopped onion, bell pepper, and minced garlic. Sauté until the vegetables are softened, about 10-15 minutes.
Add the ground beef to the skillet. Cook and stir until the beef is browned and crumbly, about 20-30 minutes.
Stir in the diced carrots. Cook for about 10 minutes, allowing them to start softening.
Add the tomato sauce, olives, raisins, cumin, salt, and pepper. Reduce the heat to low, cover, and let it simmer for about 30-40 minutes, or until the carrots are tender and the flavors have melded together.
Serve the Picadillo over brown rice and alongside black beans or a small green salad.