Cook the chopped bacon in a large skillet over medium heat until it is crisp. Remove the bacon with a slotted spoon and set it aside, leaving the drippings in the pan.
Add the ground beef to the same skillet and cook until browned, breaking it up with a spoon. Stir in the diced onion and minced garlic and cook for 2 to 3 minutes until the onion softens.
Transfer the beef mixture and cooked bacon to the slow cooker. Add the drained kidney beans, diced tomatoes, beef broth, smoked paprika, and chili powder. Stir to combine.
Season with salt and pepper. Cover and cook on low for 6 to 8 hours.
Stir the stew before serving to distribute the ingredients evenly.