Three others, including the truck driver sustained various degrees of injury and were rushed to the Amasaman Government Hospital and the 37 Military Hospital in Accra, for treatment.
The dead, yet to be identified, are a trader and a taxi driver.
The other vehicles involved in the accident included Kia trucks and ford Explorer.
Eye-witnesses said the driver of the truck loaded with cement, was from Accra to Nsawam and on reaching the John Teye Senior High School, its brake failed and it hit seven vehicles in front, resulting in the death of the two people.
The accident resulted in heavy traffic on the road for almost an hour with a large crowd gathered to watch.
Personnel from the Ghana Police and the Fire Service arrived later to rescue the victims and ensure the free flow of traffic.
A policeman, who spoke to The Ghanaian Times on condition of anonymity, said all the seven vehicles involved in the accident were damaged.
He said the bodies have been deposited at the Police Hospital mortuary for autopsy.
By Anita Nyarko-Yirenkyi