Some parts of ECOMOG at the Kwame Nkrumah Circle in Accra have been gutted by fire.
Wooden structures near the railway line were affected by the Wednesday evening inferno.
Eyewitnesses say the fire started around 5:00 pm.
Amateur footages making rounds on social media show residents - many of them squatters - running off after minor explosions were heard.
One of the affected residents told JoyNews that she lost about GHS3,100 in cash and some items.
"We are praying to God and hope that the government will help us," she said.
Some traders near the Odaw drain also salvaged what they could.
This caused a power cut in Adabraka, New Town, and its environs.
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