Man with boombox walked on the beach. He has red swimming trunks and sings "Ummala, ummala" . Then other people sings "Hey! Ho! Hey!". This is probably chorus of this song.

Similar to this song:
http://www.youtube.com/watch?v=Zru1zXJvuqU&t=3m38s

His was something from "VIVA Hits" or "Summer Hits". I saw videoclip in VIVA.
I remember that (probably) angry people sings (behind barriers): "Hey! Ho! Hey!" and then Afro-American sings "Umbala, umbala" (or "Ummala, ummala").
VIVA Hits/Summer Hits/Bravo Hits - there were this track with lyrics "Ummala, ummala hey hey". VIVA/MTV - as well. This isn't "Cocojambo", but something unpopular maybe.