According to NADMO, the district director in Bole, Mr. Kipo Sulemana said one person had died, two others survived the incident and about 5 others remained missing.
NADMO said the boat was overloaded with passengers and some goods which resulted in the disaster.
Management of the rescue team has launched a search operation and relying on local people to help rescue those missing.
There have previous incidents of travelers who get drowned on the Volta River.