One of them, Kofi Emmanuel, has already being identified by the wife of the deceased, Anthony Drobo, who witnessed the gruesome murder of her man.
The arrest came barely 24 hours after the robbery.
Assistant Commissioner of Police (ACP) Kwaku Osei Ampofo Duku, Deputy Ashanti Regional Commander, broke the news at a media briefing held at the regional police headquaters.
He gave the names of the other suspects as Kwadwo Addai, Moses Atoa, Mohammed Saddat and Power.
The gang had attacked the deceased and his family at about 0230 hours on Wednesday.
They forced open the door to the room where he was sleeping with the spouse and one of their sons, shot him in the thigh to immobilize him, slashed with a machete and hit several times in head with a stick until he dropped unconscious.
They escaped with unspecified amount of money and six mobile phones, seized from the late Drobo and his family.
ACP Ampofo Duku said the police had mounted a search for two other persons-Papa Djan and Kwaku Ababe, thought to be accomplices.
The suspects would be arraigned as soon as the police were done with their investigations, he added.