Several others also sustained various degrees of injury in the accident with some in critical condition.
Some of the eyewitnesses present at the incident said one of the drivers in a red unregistered car was speeding when he collided with two Okada riders.
The eyewitnesses said a red car dragged the two motor riders along and hit another car with registration number GE 2860-12, which was heading in the opposite direction.
Passengers in the car with registration number GE 2860-12 were believed to have gone for Christmas shopping and were returning when the accident occurred.
The two okada riders died on the spot and in all, three people died while two others died while on their way to the hospital.