Combine rice and water in a medium saucepan. Bring to a boil over high heat. Reduce heat to low, cover with lid, and allow to steam until tender, about 20 minutes.
While rice is cooking, pulverize peanuts in a blender and set aside. Melt margarine in a large skillet over medium-high heat. Saute onions until golden brown. Stir in ginger, carrots, and salt to taste. Reduce heat to low and cover to steam 5 minutes. Stir in cayenne pepper and peanuts.
When rice is done, add it to skillet and stir gently to combine with other ingredients. Garnish with chopped cilantro.