The history of Oguaa is invariably tied to the town  of Efutu, where the paramount stool of the Efutu people was lodged; which is believed to have attracted many Fante or Fantoid people.

A.L. Casely Hayford leads us to believe, that via the clan system,
the migrating Fante families most likely settled and become assimilated into Efutu equivalents of their own clan groups and new settlements, would have fallen under the paramountcy of  the Efutu Omanhin. It is clear, thus, that prior to the arrival of the Europeans, the Fante and other settlers in the region, were either the subjects or settlers of the Efutu. Therefore, it has been concluded by peer historians that during the mid-to-latefifteenth century, the inhabitants of Oguaa were an amalgam of different groups – including the Abora. The area was probably
dominated by the “so-called aboriginal Afutu (Fetu or Etsifu) and Asebu (Saboe) people.

The arrival of the Europeans in Oguaa and Elmina at the end of the fifteenth century, was quite a significant and in alienable part of our history. The introduction of European trade realigned the
relative importance of the coastal towns for the Efutu people.

The traditional indigenous trade between Efutu and the interior became increasingly supplanted by the new coastal trade. The Efutu and Fante naturally assumed the role of middlemen between the Europeans and the hinterlands. For the town (and nation) the initial accumulation of this commerce was steady and systemised over a period of time. By 1556, our city; “consisted of only some twenty houses, which were enclosed.