Place the beef mince in the pressure cooker over medium high heat; cook until brown and crumbly, 8 to 10 minutes. Remove the beef mince, and drain off the excess fat.
Return the open pressure cooker to the hotplate over medium heat, pour in the olive oil and stir in the onion, green capsicum and red chilli. Cook and stir for 3 to 4 minutes until the onion is translucent. Add the garlic and cook and stir for about 30 more seconds. Return the meat to the pressure cooker; mix in the kidney beans, diced tomatoes, tomato paste, brown sugar, cocoa, chilli flakes, chilli powder, cumin, salt and water.
Lock the lid, bring the cooker up to pressure, reduce heat to maintain pressure and cook for 8 minutes. Remove cooker from the heat and let the pressure reduce on its own, 5 to 10 minutes.
When the pressure is fully released, remove the lid, stir and serve.
Seems very tasty however dish is still reducing in a pot as with the 500ml (two cups) water it was more like chilli con soup. New pressure cooker and this was the first dish so I don't know if it was my error somehow. I will try less water next time. - 08 Jul 2012