Heat the oil in a large skillet over medium heat. When the oil is hot and shimmering, add the chicken. Season with black pepper. Cook chicken for about 5 minutes or until cooked through, breaking up into crumbles as it cooks. Add the garlic, ginger, peppers, and cashews; cook an additional 2-3 minutes, until the garlic is fragrant.
Pour in the soy sauce, fish sauce, chili paste, and honey. Bring the sauce to a boil over medium-high heat and cook until the sauce thickens, about 5-8 minutes.
Remove from the heat and stir in the basil. Serve the chicken and sauce over rice.