Add the flour, some cayenne, some white pepper and some paprika to the meat in a bowl. Stir it up until it is completely covered.
Put the bacon fat and the olive oil into the bottom of a dutch oven. Turn on the heat and when the oil is warm enough add the meat, shaking off any excess flour and saute it until it is nicely browned.
Put the browned meat into the instant pot. Mix the water and beef base thoroughly. Pour this over the beef and set the pot into the instant pot. Cover the top and set it to pressure for 20 minutes.
Meanwhile, saute the onion, pepper, shallot, and garlic until the end of the onion is translucent.
Add the tomato paste and mix it together with the vegetables.
Cover and set aside.
When the meat is cooked let it naturally release for 10 minutes and then quick release. Carefully remove the inner pot from the Instant Pot. Use a slotted spoon and put the meat into the Dutch oven.
Turn the heat up under the Dutch oven and let the meat cook a bit with the vegetables stirring constantly. Carefully add the liquid in the inner pot to the Dutch oven and mix to combine.
Add the pepper paste, cayenne, and white pepper. Taste for seasoning and cook on low heat until the mixture is nice and thick about 10 minutes.