According to reports, the fire which started at about 1:30am affected over 100 shops, most of which contained perfumes, cloths and artificial hair.
Eyewitnesses say it took fire service personnel a while to access the location of the fire due to the nature of market.
Several people who gathered at the scene, mainly owners of shops in the market amidst wailing and weeping lamented the occurrence.
It took firemen close to five hours to bring the inferno under total control.
The Ghana National Fire Service has began investigations into the matter to determine circumstances that led to the outbreak.