Prep all ingredients as listed above.
Prepare the Stew: In a medium bowl, toss the beef with flour, salt, and black pepper until evenly coated.
Heat half the olive oil in a Dutch oven or heavy pot over medium-high heat. Add the beef in a single layer (work in batches if needed) and brown on all sides, about 5–6 minutes total. Transfer the beef to a bowl.
Add 1/4 cup beef broth to the pot and scrape up the browned bits with a wooden spoon. Pour this liquid into the bowl with the beef.
Add the remaining olive oil, then add the onion. Cook for 4–5 minutes, stirring, until softened. Add garlic and cook for 30 seconds until fragrant.
Return the beef and its juices to the pot. Add the remaining beef broth, thyme, and bay leaf. Bring to a gentle boil, then reduce heat to low, cover, and simmer for 30 minutes.
Stir in the carrots, parsnip, and potato. Cover and simmer for 40–45 minutes, stirring occasionally, until the beef is very tender and the vegetables are cooked through. Season with salt and pepper.
Prepare the Rooibos Tea: Boil the water, then remove from heat. Steep rooibos tea bags (or loose tea) for 10 minutes. Let cool, then refrigerate until ready to serve over ice.
Serve: Serve the stew with sourdough bread and iced rooibos tea.