Soak dried beans in a pot of water overnight. Rinse and drain in a colander before using.
In a large soup pot, heat oil on medium heat and saute onions, celery, and carrots for 10 minutes or until soft.
Add smoked sausage and cook for another few minutes. Add thyme, broth, tomato paste and beans. Cover and bring to boil. Reduce heat and simmer for 2 1/2 to 3 hours making sure to stir occasionally.
Add extra water if necessary if soup becomes too thick. Add salt and cayenne pepper to taste.