To use Arch Linux as a host, make sure to install minicom using pacman.
pacman -S minicom
Also install dosfstools for formating the SD card.
pacman -S dosfstools
To install bitbake (assuming you have yaourt installed)
yaourt -S bitbake
You might have to edit the package build to get the latest version.
To have ldd on your board run:
opkg install ldd