http://homepage.ntlworld.com/davebulow/wow/key_ideas_-_a&o.htm has some interesting information on the Melodians song.

In Rastafarian terms, the title 'King Alpha' refers to Emperor Haile Selassie I (identified with the Almighty God Jah Rastafari), and is often used in conjunction with the name 'Queen Omega' referring to the Emperor's consort Empress Woizero Menen Asfaw.

Does "O Fari" refer to Prince Far I, a Rastafarian disc jockey?

The Wikipedia article on "Rivers of Babylon" adds a bit of information to what we have above.
-Joe-