Fire has ravaged at least eight shops in the Central Business District of the the Eastern regional capital, Koforidua.
The sad incident happened in the early hours of Tuesday.
It is believed that an electrical fault on the main power feed from the Electricity Company of Ghana was the origin of the fire.
It affected shops which deal in jewelry, brand new clothes, second hand clothes and toiletries.
Properties worth thousands of Ghana cedis are believed to have been destroyed in the fire.
Eyewitnesses say personnel from the Ghana National Fire Service (GNFS) arrived at the scene late but they managed to bring the fire under control and prevented it from spreading to other shops.
The late arrival for the GNFS personnel was allegedly because the New Juabeng office of the GNFS has a faulty fire tender so they had to request one from the Eastern Regional Head Office.
Meanwhile, the GNFS has commenced investigations into what might have brought the fire as victims count their losses.