Put all the ingredients for the rice into a pot, stir, and bring to a boil. Cover and lower heat. Let the rice simmer for about 20 minutes.
In a sauce pan, heat the olive oil over medium heat. When the oil is hot, add the onion, red and yellow peppers and a pinch of salt and cook until soft, about 5 minutes.
Add the garlic, scallion and paprika and stir for about 1 minute, being careful not to burn the garlic.
Add the tomatoes, coconut milk, and chicken broth and bring to a boil. Lower the heat and let the sauce simmer for about 10 minutes.
With an immersion blender or with a standing blender, carefully blend the sauce to desired consistency.
For the shrimp, heat a tablespoon of olive oil over medium heat and add garlic, stir until fragrant. Add the shrimp to the pan and add a pinch of salt. Cook shrimp until opaque, flipping once.
Divide the rice and shrimp between four bowls and ladle the sauce over the top. Garnish with basil, scallions and coconut shreds. Enjoy!