The deceased, identified as 35-year-old Fati Mohammed, was returning from the hospital when the vehicle hit and dragged her with other victims.
It took the intervention of volunteers to rescue and convey them to the Komfo Anokye Teaching Hospital, where Fati was later pronounced dead.
Manhyia Divisional Commander of the Motor Traffic and Transport Department, DSP Mary Nana Adwoa Affanyi, confirmed the death to Nhyira FM.
She says three other women who suffered varying degrees of injury, are still on admission after six others were treated and discharged.
Police say the driver of the vehicle who was slightly injured, lost control of the steering wheel after brake failure.
It was a chaotic scene, amid shouts, as traders and others ran for dear lives as the uncontrolled van, with registration AS 6404 – Y, moved towards them.
It was too late for the victims, some of whom were transacting business, to escape.