Heat the oil in a pan and fry the onions until soft and translucent. Add the chiles, garlic and half of the ginger (reserve the other half to add right at the end). Add the curry powder and stir to combine. Add the bell peppers and cook for another 2 minutes. Add the carrots and stir to make sure they are well combined with the other ingredients and coated in the curry powder. Add in the tomatoes and tomato paste and stir. Cook until the mixture is well combined and slightly thickened, 5 to 10 minutes.
Remove from the heat and add the baked beans, thyme and remaining ginger and stir to combine; season with salt and pepper. Serve hot or cold.